Carl P. Sherr & Co. LLC Lowers Holdings in Sysco Co. (NYSE:SYY)

Carl P. Sherr & Co. LLC trimmed its holdings in Sysco Co. (NYSE:SYY) by 16.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 4,715 shares of the company’s stock after selling 918 shares during the period. Carl P. Sherr & Co. LLC’s holdings in Sysco were worth $345,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Brinker Capital Investments LLC grew its holdings in shares of Sysco by 3.2% during the first quarter. Brinker Capital Investments LLC now owns 3,851 shares of the company’s stock worth $314,000 after buying an additional 121 shares during the last quarter. Hazlett Burt & Watson Inc. grew its holdings in shares of Sysco by 6.4% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 2,246 shares of the company’s stock worth $165,000 after buying an additional 135 shares during the last quarter. Geller Advisors LLC grew its holdings in shares of Sysco by 4.2% during the first quarter. Geller Advisors LLC now owns 3,362 shares of the company’s stock worth $276,000 after buying an additional 136 shares during the last quarter. Quent Capital LLC grew its holdings in shares of Sysco by 5.0% during the fourth quarter. Quent Capital LLC now owns 2,948 shares of the company’s stock worth $216,000 after buying an additional 140 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in shares of Sysco by 1.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 8,972 shares of the company’s stock worth $666,000 after buying an additional 153 shares during the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Price Performance

Shares of NYSE:SYY traded up $0.18 during trading on Wednesday, hitting $75.83. 2,269,815 shares of the stock were exchanged, compared to its average volume of 2,354,034. The company has a fifty day moving average price of $79.60 and a two-hundred day moving average price of $74.22. The company has a market cap of $37.75 billion, a PE ratio of 18.54, a P/E/G ratio of 1.54 and a beta of 1.15. The company has a current ratio of 1.37, a quick ratio of 0.80 and a debt-to-equity ratio of 5.00. Sysco Co. has a 12-month low of $62.24 and a 12-month high of $82.89.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, January 30th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.01. Sysco had a return on equity of 105.22% and a net margin of 2.69%. The firm had revenue of $19.29 billion during the quarter, compared to the consensus estimate of $19.32 billion. During the same period in the previous year, the firm posted $0.80 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, analysts forecast that Sysco Co. will post 4.3 EPS for the current year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 5th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.00 annualized dividend and a dividend yield of 2.64%. Sysco’s dividend payout ratio is currently 48.90%.

Wall Street Analysts Forecast Growth

SYY has been the topic of a number of research reports. Barclays raised their price target on Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. JPMorgan Chase & Co. lifted their price objective on Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 1st. BMO Capital Markets lifted their price objective on Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Finally, Stephens lifted their price objective on Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. One 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, Sysco presently has an average rating of “Moderate Buy” and an average price target of $85.38.

Insider Buying and Selling

In related news, CAO Neil Russell sold 1,722 shares of Sysco stock in a transaction that occurred on 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 transaction, the chief accounting officer now directly owns 24,082 shares in the company, valued at approximately $1,926,560. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.