Schnieders Capital Management LLC Cuts Holdings in Sysco Co. (NYSE:SYY)

Schnieders Capital Management LLC trimmed its position in Sysco Co. (NYSE:SYY) by 30.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,024 shares of the company’s stock after selling 7,303 shares during the quarter. Schnieders Capital Management LLC’s holdings in Sysco were worth $1,245,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SYY. Wealthfront Advisers LLC increased its stake in Sysco by 263.4% in the 3rd quarter. Wealthfront Advisers LLC now owns 34,007 shares of the company’s stock worth $2,246,000 after acquiring an additional 24,650 shares during the last quarter. Professional Advisory Services Inc. purchased a new stake in Sysco during the fourth quarter valued at $20,057,000. Harbour Trust & Investment Management Co bought a new position in Sysco during the fourth quarter valued at $4,623,000. Pacer Advisors Inc. grew its stake in shares of Sysco by 40.1% in the 4th quarter. Pacer Advisors Inc. now owns 82,239 shares of the company’s stock worth $6,014,000 after buying an additional 23,558 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Sysco by 16.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 298,982 shares of the company’s stock worth $21,865,000 after buying an additional 41,618 shares in the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SYY shares. Barclays lifted their price target on Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Stephens boosted their target price on Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. JPMorgan Chase & Co. raised their price target on Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. BMO Capital Markets increased their target price on shares of Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Finally, StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 1st. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Sysco presently has a consensus rating of “Moderate Buy” and an average target price of $85.38.

Sysco Stock Down 0.5 %

Shares of NYSE SYY traded down $0.38 during midday trading on Tuesday, reaching $76.94. 2,129,608 shares of the company’s stock traded hands, compared to its average volume of 2,916,517. The company has a market cap of $38.30 billion, a price-to-earnings ratio of 18.81, a P/E/G ratio of 1.56 and a beta of 1.15. The stock’s 50 day simple moving average is $79.29 and its 200-day simple moving average is $74.65. The company has a quick ratio of 0.80, a current ratio of 1.37 and a debt-to-equity ratio of 5.00. Sysco Co. has a one year low of $62.24 and a one year high of $82.89.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, January 30th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.01. The business had revenue of $19.29 billion for the quarter, compared to analysts’ expectations of $19.32 billion. Sysco had a return on equity of 105.22% and a net margin of 2.69%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.80 EPS. On average, analysts predict that Sysco Co. will post 4.3 EPS for the current fiscal year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 5th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Thursday, April 4th. Sysco’s payout ratio is currently 48.90%.

Insider Buying and Selling

In other Sysco news, CAO Neil Russell sold 1,722 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total value of $137,760.00. Following the completion of the sale, the chief accounting officer now directly owns 24,082 shares in the company, valued at $1,926,560. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.58% of the stock is currently owned by company insiders.

About Sysco

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products 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.