Trillium Asset Management LLC Trims Stock Position in Sysco Co. (NYSE:SYY)

Trillium Asset Management LLC trimmed its holdings in shares of Sysco Co. (NYSE:SYY) by 1.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 164,595 shares of the company’s stock after selling 2,937 shares during the period. Trillium Asset Management LLC’s holdings in Sysco were worth $12,037,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of SYY. First United Bank & Trust acquired a new stake in shares of Sysco during the 4th quarter worth about $26,000. AdvisorNet Financial Inc grew its stake in Sysco by 74.0% in the 4th quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock worth $27,000 after acquiring an additional 159 shares during the period. Headlands Technologies LLC acquired a new position in Sysco in the 4th quarter valued at $34,000. JFS Wealth Advisors LLC raised its holdings in Sysco by 39.3% in the 4th quarter. JFS Wealth Advisors LLC now owns 500 shares of the company’s stock valued at $37,000 after acquiring an additional 141 shares during the last quarter. Finally, Milestone Investment Advisors LLC acquired a new stake in shares of Sysco during the third quarter worth $40,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Stock Down 0.4 %

NYSE:SYY traded down $0.33 during mid-day trading on Friday, hitting $75.91. The company had a trading volume of 3,781,607 shares, compared to its average volume of 2,924,661. Sysco Co. has a 1 year low of $62.24 and a 1 year high of $82.89. The business has a fifty day simple moving average of $77.75 and a 200-day simple moving average of $75.95. The company has a current ratio of 1.34, a quick ratio of 0.77 and a debt-to-equity ratio of 5.77. The firm has a market capitalization of $37.80 billion, a price-to-earnings ratio of 18.51, a PEG ratio of 2.05 and a beta of 1.16.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.95 by $0.01. Sysco had a return on equity of 99.88% and a net margin of 2.66%. The firm had revenue of $19.38 billion for the quarter, compared to analyst estimates of $19.74 billion. During the same period in the previous year, the company posted $0.90 EPS. Sysco’s revenue for the quarter was up 2.7% on a year-over-year basis. Equities analysts forecast that Sysco Co. will post 4.31 earnings per share for the current fiscal year.

Sysco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.69%. This is a positive change from Sysco’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, July 5th. Sysco’s dividend payout ratio (DPR) is presently 48.78%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on SYY shares. UBS Group dropped 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. Piper Sandler decreased their target price on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Stephens upped their price target on shares of Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Barclays lifted their price target on shares of Sysco from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. Finally, JPMorgan Chase & Co. upped their price objective on Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $84.56.

Insider Buying and Selling

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

Sysco Company 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.