Hummer Financial Advisory Services Inc Decreases Stake in Sysco Co. (NYSE:SYY)

Hummer Financial Advisory Services Inc trimmed its position in shares of Sysco Co. (NYSE:SYY) by 4.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,450 shares of the company’s stock after selling 165 shares during the period. Hummer Financial Advisory Services Inc’s holdings in Sysco were worth $246,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Capital World Investors increased its holdings in Sysco by 17.5% in the first quarter. Capital World Investors now owns 10,984,950 shares of the company’s stock valued at $891,758,000 after buying an additional 1,637,232 shares during the last quarter. Capital Research Global Investors increased its position in Sysco by 112.8% during the first quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock worth $536,770,000 after buying an additional 3,504,740 shares during the period. Norges Bank acquired a new stake in shares of Sysco in the fourth quarter valued at approximately $450,794,000. The Manufacturers Life Insurance Company grew its position in shares of Sysco by 132.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,653,446 shares of the company’s stock worth $267,177,000 after acquiring an additional 2,084,501 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Sysco by 8.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,036,100 shares of the company’s stock valued at $222,029,000 after acquiring an additional 240,671 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

Shares of NYSE SYY traded up $0.08 during midday trading on Friday, hitting $75.63. The company had a trading volume of 2,258,827 shares, compared to its average volume of 3,140,584. The firm has a market capitalization of $37.66 billion, a price-to-earnings ratio of 18.45, a price-to-earnings-growth ratio of 1.96 and a beta of 1.18. Sysco Co. has a twelve month low of $62.24 and a twelve month high of $82.89. The business has a 50-day simple moving average of $72.77 and a two-hundred day simple moving average of $76.09. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.01. Sysco had a net margin of 2.48% and a return on equity of 102.09%. The company had revenue of $20.56 billion during the quarter, compared to the consensus estimate of $20.51 billion. During the same period last year, the firm earned $1.34 EPS. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. Equities research analysts anticipate that Sysco Co. will post 4.6 earnings per share for the current year.

Analyst Upgrades and Downgrades

SYY has been the topic of several research reports. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a research report on Thursday, May 23rd. BMO Capital Markets lowered their target price on Sysco from $90.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, May 23rd. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research note on Friday. Piper Sandler decreased their price target on Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Finally, Barclays raised their target price on shares of Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $85.27.

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.