Sysco Co. (NYSE:SYY) Shares Sold by ICW Investment Advisors LLC

ICW Investment Advisors LLC lessened its stake in shares of Sysco Co. (NYSE:SYY) by 6.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 3,998 shares of the company’s stock after selling 274 shares during the quarter. ICW Investment Advisors LLC’s holdings in Sysco were worth $292,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. AdvisorNet Financial Inc lifted its position in shares of 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 last quarter. Hexagon Capital Partners LLC lifted its position in shares of Sysco by 74.6% during the 3rd quarter. Hexagon Capital Partners LLC now owns 419 shares of the company’s stock valued at $28,000 after acquiring an additional 179 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Sysco during the 4th quarter valued at $34,000. BluePath Capital Management LLC acquired a new stake in shares of Sysco during the 3rd quarter valued at $38,000. Finally, BKM Wealth Management LLC acquired a new stake in shares of Sysco during the 4th quarter valued at $42,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on SYY. Piper Sandler cut their price objective on Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a research report on Wednesday. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 1st. JPMorgan Chase & Co. increased their target price on Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. BMO Capital Markets increased their target price on Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Finally, Stephens increased their target price on Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.90.

Sysco Trading Down 1.7 %

Shares of NYSE:SYY opened at $73.04 on Thursday. The company has a market cap of $36.36 billion, a P/E ratio of 17.81, a P/E/G ratio of 1.50 and a beta of 1.16. The stock’s 50-day moving average is $78.89 and its 200-day moving average is $75.09. Sysco Co. has a 52-week low of $62.24 and a 52-week high of $82.89. The company has a debt-to-equity ratio of 5.77, a quick ratio of 0.80 and a current ratio of 1.34.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, April 30th. The company reported $0.96 earnings per share for the quarter, beating 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 business had revenue of $19.38 billion during the quarter, compared to analysts’ expectations of $19.74 billion. During the same quarter last year, the company earned $0.90 earnings per share. The firm’s revenue was up 2.7% on a year-over-year basis. Equities research analysts predict that Sysco Co. will post 4.33 earnings per share for the current year.

Sysco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Friday, July 5th. This is a boost from Sysco’s previous quarterly dividend of $0.50. Sysco’s dividend payout ratio (DPR) is presently 48.78%.

Insiders Place Their Bets

In other Sysco news, CAO Neil Russell sold 1,722 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total transaction of $137,760.00. Following the completion of the transaction, the chief accounting officer now owns 24,082 shares in the company, valued at $1,926,560. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate 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.