Steigerwald Gordon & Koch Inc. Has $14.70 Million Position in Sysco Co. (NYSE:SYY)

Steigerwald Gordon & Koch Inc. lowered its position in Sysco Co. (NYSE:SYY) by 0.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 195,845 shares of the company’s stock after selling 693 shares during the period. Sysco accounts for 1.6% of Steigerwald Gordon & Koch Inc.’s portfolio, making the stock its 29th largest holding. Steigerwald Gordon & Koch Inc.’s holdings in Sysco were worth $14,696,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC increased its position in Sysco by 188.7% during the first quarter. Rialto Wealth Management LLC now owns 332 shares of the company’s stock worth $25,000 after buying an additional 217 shares during the last quarter. Parvin Asset Management LLC acquired a new position in shares of Sysco during the 4th quarter valued at about $29,000. Stonebridge Financial Group LLC acquired a new position in shares of Sysco during 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 approximately $31,000. Finally, Flagship Wealth Advisors LLC acquired a new position in Sysco during the fourth quarter valued at approximately $31,000. Institutional investors own 83.41% of the company’s stock.

Sysco Trading Down 1.0%

Shares of SYY opened at $72.93 on Thursday. Sysco Co. has a 1 year low of $67.12 and a 1 year high of $82.23. The stock has a market cap of $35.35 billion, a PE ratio of 18.75, a PEG ratio of 1.88 and a beta of 0.80. The stock has a 50 day simple moving average of $71.71 and a 200-day simple moving average of $73.72. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.06). Sysco had a return on equity of 106.30% and a net margin of 2.40%. The firm had revenue of $19.60 billion for the quarter, compared to the consensus estimate of $20.11 billion. During the same period in the prior year, the company posted $0.96 earnings per share. Sysco’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, sell-side analysts predict that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.96%. This is a boost from Sysco’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Thursday, July 3rd. Sysco’s dividend payout ratio (DPR) is currently 55.96%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SYY. Barclays reduced their price objective on shares of Sysco from $87.00 to $77.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Wells Fargo & Company decreased their target price on Sysco from $87.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Wall Street Zen lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. JPMorgan Chase & Co. boosted their price target on Sysco from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, May 20th. Finally, BMO Capital Markets reduced their price objective on Sysco from $82.00 to $77.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $83.00.

Insider Buying and Selling at Sysco

In other Sysco news, Director Sheila Talton sold 356 shares of the business’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $70.84, for a total value of $25,219.04. Following the completion of the transaction, the director now directly owns 12,738 shares of the company’s stock, valued at approximately $902,359.92. The trade was a 2.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

About Sysco

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.