Evermay Wealth Management LLC Decreases Holdings in Sysco Co. (NYSE:SYY)

Evermay Wealth Management LLC reduced its position in Sysco Co. (NYSE:SYY) by 21.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 900 shares of the company’s stock after selling 250 shares during the period. Evermay Wealth Management LLC’s holdings in Sysco were worth $69,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. National Pension Service grew its stake in shares of Sysco by 15.6% during the 3rd quarter. National Pension Service now owns 1,237,017 shares of the company’s stock valued at $96,562,000 after purchasing an additional 166,798 shares during the period. New England Asset Management Inc. boosted its holdings in shares of Sysco by 12.7% in the third quarter. New England Asset Management Inc. now owns 131,360 shares of the company’s stock worth $10,254,000 after buying an additional 14,810 shares during the last quarter. Empowered Funds LLC increased its holdings in Sysco by 29.0% during the third quarter. Empowered Funds LLC now owns 78,333 shares of the company’s stock valued at $6,115,000 after buying an additional 17,587 shares during the last quarter. Diamond Hill Capital Management Inc. raised its position in Sysco by 11.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after acquiring an additional 672,940 shares during the period. Finally, Captrust Financial Advisors boosted its stake in shares of Sysco by 7.7% during the 3rd quarter. Captrust Financial Advisors now owns 124,341 shares of the company’s stock worth $9,706,000 after acquiring an additional 8,891 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Sysco Trading Down 0.7 %

SYY opened at $72.79 on Friday. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.89. The company has a current ratio of 1.20, a quick ratio of 0.73 and a debt-to-equity ratio of 5.66. The stock has a 50-day moving average of $76.30 and a 200 day moving average of $75.99. The firm has a market cap of $35.76 billion, a P/E ratio of 18.71, a P/E/G ratio of 1.96 and a beta of 1.18.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same quarter in the prior year, the company posted $0.89 EPS. As a group, research analysts forecast that Sysco Co. will post 4.57 EPS for the current year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 3rd were issued a $0.51 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.04 annualized dividend and a dividend yield of 2.80%. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Insider Buying and Selling at Sysco

In other news, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total transaction of $216,427.00. Following the completion of the sale, the director now owns 12,955 shares of the company’s stock, valued at approximately $966,831.65. The trade was a 18.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Eve M. Mcfadden sold 6,499 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $519,920.00. Following the completion of the transaction, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,876,080. This trade represents a 11.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,270 shares of company stock worth $6,181,946 over the last 90 days. Company insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Barclays reduced their price objective on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday. Morgan Stanley cut their price target on Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday. Truist Financial lowered their price objective on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday. Jefferies Financial Group increased their target price on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Finally, Melius assumed coverage on Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price target for the company. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Sysco has an average rating of “Moderate Buy” and an average target price of $84.85.

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.