SeaBridge Investment Advisors LLC Has $2.50 Million Position in Sysco Co. (NYSE:SYY)

SeaBridge Investment Advisors LLC lessened its holdings in shares of Sysco Co. (NYSE:SYY) by 11.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 30,797 shares of the company’s stock after selling 3,989 shares during the period. SeaBridge Investment Advisors LLC’s holdings in Sysco were worth $2,500,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. TFC Financial Management Inc. grew its position in Sysco by 11.1% in the 1st quarter. TFC Financial Management Inc. now owns 2,008 shares of the company’s stock worth $163,000 after purchasing an additional 200 shares during the last quarter. Hartline Investment Corp acquired a new stake in Sysco during the first quarter worth about $2,121,000. Norden Group LLC bought a new position in Sysco during the first quarter valued at about $434,000. Van ECK Associates Corp raised its holdings in Sysco by 9.3% in the 1st quarter. Van ECK Associates Corp now owns 68,097 shares of the company’s stock valued at $5,528,000 after acquiring an additional 5,781 shares in the last quarter. Finally, HB Wealth Management LLC lifted its position in shares of Sysco by 2.4% in the 1st quarter. HB Wealth Management LLC now owns 18,040 shares of the company’s stock worth $1,465,000 after acquiring an additional 423 shares during the period. Institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

Shares of NYSE:SYY traded down $0.31 during midday trading on Friday, reaching $69.74. The company’s stock had a trading volume of 2,308,654 shares, compared to its average volume of 3,160,429. The business’s fifty day simple moving average is $73.38 and its 200-day simple moving average is $76.27. The company has a debt-to-equity ratio of 5.77, a current ratio of 1.34 and a quick ratio of 0.77. Sysco Co. has a fifty-two week low of $62.24 and a fifty-two week high of $82.89. The company has a market capitalization of $34.73 billion, a P/E ratio of 17.01, a P/E/G ratio of 1.88 and a beta of 1.18.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.01. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The firm had revenue of $19.38 billion during the quarter, compared to analysts’ expectations of $19.74 billion. During the same quarter last year, the company posted $0.90 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, equities research analysts expect that Sysco Co. will post 4.3 EPS for the current fiscal year.

Sysco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.93%. This is a positive change from Sysco’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, July 5th. Sysco’s dividend payout ratio (DPR) is presently 48.78%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SYY shares. Guggenheim upgraded Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective on the stock in a research report on Tuesday, May 28th. JPMorgan Chase & Co. dropped their price objective on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. Barclays decreased their target price on shares of Sysco from $88.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, May 23rd. UBS Group dropped their price target on shares of Sysco from $92.00 to $87.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Finally, Truist Financial decreased their price objective on Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, June 24th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $84.90.

Sysco 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.