Gilman Hill Asset Management LLC Has $2.94 Million Stock Holdings in Sysco Co. (NYSE:SYY)

Gilman Hill Asset Management LLC grew its position in Sysco Co. (NYSE:SYYGet Rating) by 14.7% during the 2nd quarter, Holdings Channel reports. The firm owned 34,734 shares of the company’s stock after purchasing an additional 4,445 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in Sysco were worth $2,942,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SYY. Norges Bank acquired a new stake in shares of Sysco in the 4th quarter valued at $356,291,000. Wellington Management Group LLP increased its stake in shares of Sysco by 11.1% in the 1st quarter. Wellington Management Group LLP now owns 35,539,582 shares of the company’s stock valued at $2,901,806,000 after acquiring an additional 3,536,646 shares during the last quarter. CFS Investment Advisory Services LLC increased its stake in shares of Sysco by 8,046.2% in the 1st quarter. CFS Investment Advisory Services LLC now owns 2,049,905 shares of the company’s stock valued at $25,000 after acquiring an additional 2,024,741 shares during the last quarter. BlackRock Inc. increased its stake in Sysco by 5.6% during the 4th quarter. BlackRock Inc. now owns 31,519,868 shares of the company’s stock worth $2,475,887,000 after purchasing an additional 1,677,431 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its stake in Sysco by 1,494.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,195,433 shares of the company’s stock worth $99,233,000 after purchasing an additional 1,120,437 shares in the last quarter. Institutional investors and hedge funds own 82.43% of the company’s stock.

Sysco Stock Down 2.4 %

Shares of NYSE SYY traded down $1.85 during trading hours on Friday, hitting $75.53. The company had a trading volume of 26,157 shares, compared to its average volume of 1,773,847. The stock has a market capitalization of $38.23 billion, a P/E ratio of 29.31, a price-to-earnings-growth ratio of 2.07 and a beta of 1.01. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 7.28. Sysco Co. has a 1-year low of $68.05 and a 1-year high of $91.53. The firm’s 50 day moving average is $83.98 and its 200-day moving average is $83.51.

Sysco (NYSE:SYYGet Rating) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.03. Sysco had a return on equity of 119.55% and a net margin of 1.98%. The business had revenue of $18.96 billion for the quarter, compared to analysts’ expectations of $18.29 billion. During the same quarter in the prior year, the business earned $0.71 EPS. The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. On average, analysts expect that Sysco Co. will post 4.2 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 7th will be given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend is Thursday, October 6th. Sysco’s payout ratio is 74.24%.

Analyst Ratings Changes

A number of research firms recently issued reports on SYY. Truist Financial lowered their target price on Sysco from $98.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, August 10th. JPMorgan Chase & Co. raised Sysco from a “neutral” rating to an “overweight” rating and set a $98.00 target price for the company in a research note on Thursday, May 26th. Stephens assumed coverage on Sysco in a research report on Thursday. They set an “overweight” rating and a $90.00 price target for the company. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 14th. Finally, Barclays reduced their price target on Sysco to $100.00 in a research report on Monday, August 15th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.67.

Sysco Profile

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Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products primarily to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.

See Also

Want to see what other hedge funds are holding SYY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sysco Co. (NYSE:SYYGet Rating).

Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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