Chesley Taft & Associates LLC Has $5.91 Million Holdings in Sysco Co. (NYSE:SYY)

Chesley Taft & Associates LLC cut its position in Sysco Co. (NYSE:SYY) by 2.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 72,775 shares of the company’s stock after selling 1,850 shares during the period. Chesley Taft & Associates LLC’s holdings in Sysco were worth $5,908,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SYY. First United Bank & Trust acquired a new position in shares of Sysco during the fourth quarter worth approximately $26,000. AdvisorNet Financial Inc lifted its position in shares of Sysco by 74.0% during the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock worth $27,000 after purchasing an additional 159 shares in the last quarter. Burkett Financial Services LLC acquired a new position in shares of Sysco during the fourth quarter worth approximately $30,000. Headlands Technologies LLC acquired a new position in Sysco in the fourth quarter valued at approximately $34,000. Finally, JFS Wealth Advisors LLC lifted its holdings in Sysco by 39.3% in the fourth quarter. JFS Wealth Advisors LLC now owns 500 shares of the company’s stock valued at $37,000 after buying an additional 141 shares during the period. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on SYY. Barclays cut their price objective on shares of Sysco from $88.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, May 23rd. UBS Group cut their price objective on shares of Sysco from $92.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Guggenheim upgraded shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective on the stock in a report on Tuesday, May 28th. Finally, Morgan Stanley cut their price objective on shares of Sysco from $84.00 to $82.00 and set an “equal weight” rating on the stock in a report on Thursday, May 23rd. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Sysco has a consensus rating of “Moderate Buy” and an average price target of $84.90.

Sysco Stock Up 0.3 %

Shares of SYY stock traded up $0.19 during trading hours on Thursday, hitting $72.47. 2,393,015 shares of the company were exchanged, compared to its average volume of 3,091,537. The business has a 50 day moving average of $74.11 and a two-hundred day moving average of $76.43. The company has a current ratio of 1.34, a quick ratio of 0.77 and a debt-to-equity ratio of 5.77. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89. The company has a market capitalization of $36.09 billion, a PE ratio of 17.67, a PEG ratio of 2.14 and a beta of 1.17.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.96 earnings per share (EPS) for the quarter, topping 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 company had revenue of $19.38 billion during the quarter, compared to the consensus estimate of $19.74 billion. During the same quarter in the prior year, the firm earned $0.90 earnings per share. The firm’s revenue was up 2.7% compared to the same quarter last year. Analysts anticipate that Sysco Co. will post 4.29 earnings per share for the current fiscal year.

Sysco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be given a dividend of $0.51 per share. This is an increase from Sysco’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, July 5th. This represents a $2.04 annualized dividend and a dividend yield of 2.81%. Sysco’s dividend payout ratio is currently 48.78%.

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.