Hohimer Wealth Management LLC Decreases Position in Sysco Co. (NYSE:SYY)

Hohimer Wealth Management LLC trimmed its position in shares of Sysco Co. (NYSE:SYY) by 24.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 25,776 shares of the company’s stock after selling 8,192 shares during the quarter. Hohimer Wealth Management LLC’s holdings in Sysco were worth $1,885,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SYY. Norges Bank acquired a new position in Sysco in the fourth quarter valued at $450,794,000. Trian Fund Management L.P. acquired a new stake in Sysco during the third quarter worth about $80,812,000. Invesco Ltd. increased its stake in Sysco by 11.0% during the third quarter. Invesco Ltd. now owns 10,859,690 shares of the company’s stock worth $717,283,000 after acquiring an additional 1,076,287 shares during the last quarter. Acadian Asset Management LLC increased its stake in Sysco by 1,591.5% during the third quarter. Acadian Asset Management LLC now owns 764,235 shares of the company’s stock worth $50,462,000 after acquiring an additional 719,054 shares during the last quarter. Finally, Becker Capital Management Inc. increased its stake in Sysco by 3,671.0% during the third quarter. Becker Capital Management Inc. now owns 470,888 shares of the company’s stock worth $31,102,000 after acquiring an additional 458,401 shares during the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Sysco

In other Sysco news, CAO Neil Russell sold 1,722 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total value of $137,760.00. Following the completion of the transaction, 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 is available at this hyperlink. Insiders own 0.58% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SYY shares. Stephens upped their price target on Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. Truist Financial lowered their target price on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. UBS Group lowered their target price on Sysco from $92.00 to $87.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Morgan Stanley reduced their price target on Sysco from $84.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday. Finally, StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 1st. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $85.11.

Sysco Stock Performance

Shares of NYSE SYY traded down $0.08 during mid-day trading on Thursday, hitting $72.65. The company had a trading volume of 2,315,980 shares, compared to its average volume of 2,953,636. The stock has a market cap of $36.18 billion, a price-to-earnings ratio of 17.85, a PEG ratio of 2.00 and a beta of 1.16. Sysco Co. has a 12 month low of $62.24 and a 12 month 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 0.77. The firm’s 50 day simple moving average is $77.39 and its two-hundred day simple moving average is $76.13.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 99.88% and a net margin of 2.66%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.90 EPS. As a group, equities research analysts forecast that Sysco Co. will post 4.31 earnings per share for the current year.

Sysco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be issued a $0.51 dividend. This is a boost from Sysco’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, July 5th. This represents a $2.04 annualized dividend and a yield of 2.81%. Sysco’s dividend payout ratio is 48.78%.

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.