Hummer Financial Advisory Services Inc trimmed its position in SYSCO Co. (NYSE:SYY) by 5.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,615 shares of the company’s stock after selling 225 shares during the quarter. Hummer Financial Advisory Services Inc’s holdings in SYSCO were worth $225,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Advisors Asset Management Inc. increased its holdings in shares of SYSCO by 57.7% in the first quarter. Advisors Asset Management Inc. now owns 32,060 shares of the company’s stock worth $1,463,000 after purchasing an additional 11,734 shares during the last quarter. ETRADE Capital Management LLC grew its position in SYSCO by 291.3% in the second quarter. ETRADE Capital Management LLC now owns 17,415 shares of the company’s stock worth $952,000 after acquiring an additional 12,965 shares in the last quarter. Financial Counselors Inc. grew its position in SYSCO by 79.7% in the second quarter. Financial Counselors Inc. now owns 25,793 shares of the company’s stock worth $1,410,000 after acquiring an additional 11,440 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new position in SYSCO in the second quarter worth about $203,000. Finally, Bank of New York Mellon Corp grew its position in SYSCO by 0.9% in the second quarter. Bank of New York Mellon Corp now owns 3,914,474 shares of the company’s stock worth $213,965,000 after acquiring an additional 33,745 shares in the last quarter. 79.58% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:SYY opened at $65.78 on Friday. The business’s 50 day moving average is $63.45 and its 200 day moving average is $55.98. The stock has a market cap of $33.49 billion, a P/E ratio of 173.11, a price-to-earnings-growth ratio of 3.04 and a beta of 1.23. SYSCO Co. has a 52-week low of $26.00 and a 52-week high of $85.98. The company has a quick ratio of 1.38, a current ratio of 1.84 and a debt-to-equity ratio of 11.14.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Friday, October 2nd will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Thursday, October 1st. SYSCO’s dividend payout ratio is 89.55%.
Several research firms recently commented on SYY. Wolfe Research began coverage on SYSCO in a research report on Wednesday, September 23rd. They issued a “market perform” rating for the company. Credit Suisse Group lifted their price target on SYSCO from $65.00 to $76.00 and gave the stock an “outperform” rating in a research report on Monday, September 21st. Piper Sandler reiterated a “buy” rating and issued a $64.00 price target on shares of SYSCO in a research report on Wednesday, July 1st. Edward Jones upgraded SYSCO from a “hold” rating to a “buy” rating in a research report on Thursday, September 10th. Finally, BMO Capital Markets boosted their target price on SYSCO from $51.00 to $60.00 and gave the company a “market perform” rating in a research report on Wednesday, August 12th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $70.90.
In other SYSCO news, EVP Greg D. Bertrand sold 1,134 shares of the company’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $57.95, for a total value of $65,715.30. Following the completion of the sale, the executive vice president now directly owns 38,403 shares in the company, valued at approximately $2,225,453.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Nancy Newcomb sold 10,000 shares of the company’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $60.38, for a total value of $603,800.00. Following the completion of the sale, the director now owns 61,873 shares of the company’s stock, valued at $3,735,891.74. The disclosure for this sale can be found here. 5.24% of the stock is currently owned by corporate insiders.
Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.
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