Richard W. Paul & Associates LLC Cuts Stock Holdings in Sysco Co. (NYSE:SYY)

Richard W. Paul & Associates LLC trimmed its position in shares of Sysco Co. (NYSE:SYY) by 5.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,776 shares of the company’s stock after selling 200 shares during the quarter. Richard W. Paul & Associates LLC’s holdings in Sysco were worth $289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in shares of Sysco in the 3rd quarter worth about $26,000. Valley Wealth Managers Inc. purchased a new position in shares of Sysco in the 3rd quarter worth about $31,000. Stonebridge Financial Group LLC purchased a new position in shares of Sysco in the 4th quarter worth about $31,000. Focused Wealth Management Inc purchased a new position in shares of Sysco in the 3rd quarter worth about $37,000. Finally, HHM Wealth Advisors LLC boosted its holdings in shares of Sysco by 107.4% in the 4th quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock worth $47,000 after buying an additional 321 shares during the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, 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 transaction of $519,920.00. Following the completion of the sale, the senior vice president now owns 48,451 shares of the company’s stock, valued at approximately $3,876,080. This represents a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Greg D. Bertrand sold 21,844 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $1,747,520.00. Following the sale, the executive vice president now directly owns 60,581 shares of the company’s stock, valued at approximately $4,846,480. This trade represents a 26.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 76,370 shares of company stock valued at $5,965,519 over the last quarter. 0.54% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on SYY shares. UBS Group cut their price target on shares of Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. JPMorgan Chase & Co. lowered their price objective on Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 25th. 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 note on Wednesday, January 29th. Finally, Wells Fargo & Company boosted their price objective on Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.77.

Sysco Trading Up 1.1 %

Shares of SYY opened at $75.53 on Friday. The business’s 50-day moving average price is $73.66 and its 200-day moving average price is $75.65. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.33. The stock has a market cap of $36.95 billion, a PE ratio of 19.42, a P/E/G ratio of 1.88 and a beta of 1.17. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period in the previous year, the business earned $0.89 EPS. On average, equities analysts forecast that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s dividend payout ratio is currently 52.44%.

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.