Sandhill Capital Partners LLC Reduces Stock Position in Sysco Co. (NYSE:SYY)

Sandhill Capital Partners LLC lowered its holdings in shares of Sysco Co. (NYSE:SYY) by 8.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,520 shares of the company’s stock after selling 4,728 shares during the quarter. Sandhill Capital Partners LLC’s holdings in Sysco were worth $3,768,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. AdvisorNet Financial Inc boosted its holdings in Sysco by 74.0% during the 4th quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock valued at $27,000 after acquiring an additional 159 shares during the period. Hexagon Capital Partners LLC lifted its holdings in shares of Sysco by 74.6% in the 3rd quarter. Hexagon Capital Partners LLC now owns 419 shares of the company’s stock worth $28,000 after buying an additional 179 shares during the period. BluePath Capital Management LLC purchased a new stake in shares of Sysco in the 3rd quarter worth $38,000. Milestone Investment Advisors LLC purchased a new stake in shares of Sysco in the 3rd quarter worth $40,000. Finally, AllSquare Wealth Management LLC purchased a new stake in shares of Sysco in the 3rd quarter worth $42,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SYY. Stephens upped their target price on Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. JPMorgan Chase & Co. boosted their price target on Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Barclays boosted their price target on Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. Finally, BMO Capital Markets boosted their price target on Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $85.38.

Sysco Stock Performance

Shares of SYY stock traded down $0.22 during mid-day trading on Thursday, reaching $77.07. The stock had a trading volume of 2,295,710 shares, compared to its average volume of 2,894,744. The business’s fifty day moving average is $79.26 and its 200-day moving average is $74.67. The company has a current ratio of 1.37, a quick ratio of 0.80 and a debt-to-equity ratio of 5.00. The firm has a market cap of $38.37 billion, a price-to-earnings ratio of 18.90, a PEG ratio of 1.57 and a beta of 1.15. Sysco Co. has a 1-year low of $62.24 and a 1-year high of $82.89.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, January 30th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $19.29 billion for the quarter, compared to analyst estimates of $19.32 billion. Sysco had a return on equity of 105.22% and a net margin of 2.69%. The company’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.80 earnings per share. On average, research analysts forecast that Sysco Co. will post 4.3 earnings per share for the current year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 5th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.60%. Sysco’s payout ratio is 48.90%.

Insider Transactions at Sysco

In other news, CAO Neil Russell sold 1,722 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total value of $137,760.00. Following the sale, the chief accounting officer now owns 24,082 shares in the company, valued at $1,926,560. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.58% of the company’s stock.

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.