Stokes Family Office LLC Cuts Stock Holdings in Sysco Co. (NYSE:SYY)

Stokes Family Office LLC trimmed its stake in shares of Sysco Co. (NYSE:SYY) by 7.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,600 shares of the company’s stock after selling 1,475 shares during the period. Stokes Family Office LLC’s holdings in Sysco were worth $1,287,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Hunter Associates Investment Management LLC lifted its holdings in Sysco by 1.5% during the 4th quarter. Hunter Associates Investment Management LLC now owns 8,275 shares of the company’s stock valued at $606,000 after buying an additional 125 shares in the last quarter. Hazlett Burt & Watson Inc. lifted its holdings in Sysco by 6.4% during the 4th quarter. Hazlett Burt & Watson Inc. now owns 2,246 shares of the company’s stock valued at $165,000 after buying an additional 135 shares in the last quarter. Quent Capital LLC increased its position in Sysco by 5.0% during the 4th quarter. Quent Capital LLC now owns 2,948 shares of the company’s stock valued at $216,000 after purchasing an additional 140 shares during the period. GHE LLC increased its position in Sysco by 1.0% during the 4th quarter. GHE LLC now owns 14,718 shares of the company’s stock valued at $1,076,000 after purchasing an additional 146 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in Sysco by 0.5% during the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 30,360 shares of the company’s stock valued at $2,457,000 after purchasing an additional 149 shares during the period. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Sysco news, CAO Neil Russell sold 1,722 shares of the business’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 transaction of $137,760.00. Following the sale, the chief accounting officer now owns 24,082 shares of the company’s stock, valued at approximately $1,926,560. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.58% of the stock is owned by insiders.

Sysco Stock Performance

NYSE:SYY traded up $1.11 during trading hours on Friday, hitting $75.36. 2,709,189 shares of the company were exchanged, compared to its average volume of 2,970,944. The stock has a market capitalization of $37.52 billion, a price-to-earnings ratio of 18.38, a PEG ratio of 1.48 and a beta of 1.16. Sysco Co. has a 52-week low of $62.24 and a 52-week high of $82.89. The company has a debt-to-equity ratio of 5.77, a current ratio of 1.34 and a quick ratio of 0.80. The company’s 50 day moving average price is $78.76 and its 200-day moving average price is $75.09.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, April 30th. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.01. The company had revenue of $19.38 billion for the quarter, compared to the consensus estimate of $19.74 billion. Sysco had a net margin of 2.66% and a return on equity of 99.88%. Sysco’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.90 EPS. As a group, research analysts forecast that Sysco Co. will post 4.33 earnings per share for the current year.

Sysco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.71%. The ex-dividend date of this dividend is Friday, July 5th. This is an increase from Sysco’s previous quarterly dividend of $0.50. Sysco’s payout ratio is currently 48.78%.

Analyst Upgrades and Downgrades

SYY has been the topic of a number of research reports. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. Truist Financial cut their target price on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a research report on Thursday. BMO Capital Markets raised their target price on shares of Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Piper Sandler cut their target price on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, UBS Group cut their target price on shares of Sysco from $92.00 to $87.00 and set a “buy” rating on the stock in a research report on Wednesday. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.90.

Sysco Company Profile

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.