Taylor Hoffman Capital Management LLC Sells 1,000 Shares of Sysco Co. (NYSE:SYY)

Taylor Hoffman Capital Management LLC lessened its stake in shares of Sysco Co. (NYSE:SYY) by 15.2% in the 4th quarter, Holdings Channel reports. The firm owned 5,579 shares of the company’s stock after selling 1,000 shares during the period. Taylor Hoffman Capital Management LLC’s holdings in Sysco were worth $427,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SYY. Parvin Asset Management LLC bought a new position in shares of Sysco in the 4th quarter valued at about $29,000. Stonebridge Financial Group LLC bought a new position in shares of Sysco in the 4th quarter valued at about $31,000. Flagship Wealth Advisors LLC bought a new position in shares of Sysco in the 4th quarter valued at about $31,000. Sherman Asset Management Inc. bought a new position in shares of Sysco in the 4th quarter valued at about $31,000. Finally, SRS Capital Advisors Inc. lifted its holdings in shares of Sysco by 53.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after acquiring an additional 149 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on SYY. UBS Group lowered their price target on shares of Sysco from $86.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. Truist Financial lowered their price target on shares of Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 20th. Morgan Stanley decreased their price objective on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Finally, Sanford C. Bernstein set a $87.00 price objective on shares of Sysco and gave the stock an “overweight” rating in a research note on Tuesday, April 22nd. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and an average target price of $83.62.

Sysco Stock Performance

Shares of NYSE:SYY opened at $73.70 on Wednesday. The firm has a market cap of $35.73 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 1.88 and a beta of 0.80. The firm’s 50 day simple moving average is $71.79 and its 200-day simple moving average is $74.02. Sysco Co. has a one year low of $67.12 and a one year high of $82.23. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, April 29th. The company reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.06). The company had revenue of $19.60 billion for the quarter, compared to analysts’ expectations of $20.11 billion. Sysco had a return on equity of 106.30% and a net margin of 2.40%. The business’s revenue was up 1.1% compared to the same quarter last year. During the same period last year, the business posted $0.96 earnings per share. As a group, equities analysts predict that Sysco Co. will post 4.58 EPS for the current year.

Sysco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.54 per share. The ex-dividend date is Thursday, July 3rd. This is a positive change from Sysco’s previous quarterly dividend of $0.51. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.93%. Sysco’s dividend payout ratio (DPR) is 55.96%.

Insider Activity at Sysco

In related news, Director Sheila Talton sold 356 shares of Sysco stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $70.84, for a total transaction of $25,219.04. Following the transaction, the director now directly owns 12,738 shares of the company’s stock, valued at $902,359.92. This trade represents a 2.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.54% of the stock is currently owned by corporate 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.