Coho Partners Ltd. Has $67.75 Million Stock Holdings in Sysco Corporation (NYSE:SYY)

Coho Partners Ltd. cut its stake in shares of Sysco Corporation (NYSE:SYY - Free Report) by 27.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 902,830 shares of the company's stock after selling 348,113 shares during the quarter. Sysco makes up approximately 4.1% of Coho Partners Ltd.'s holdings, making the stock its 3rd biggest position. Coho Partners Ltd. owned about 0.18% of Sysco worth $67,748,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SYY. Rialto Wealth Management LLC boosted its stake in Sysco by 188.7% in the 1st quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock worth $25,000 after purchasing an additional 217 shares during the period. Parvin Asset Management LLC bought a new position in Sysco in the 4th quarter worth approximately $29,000. Sherman Asset Management Inc. bought a new position in Sysco in the 4th quarter worth approximately $31,000. Flagship Wealth Advisors LLC bought a new position in Sysco in the 4th quarter worth approximately $31,000. Finally, SRS Capital Advisors Inc. boosted its stake in Sysco by 53.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock worth $33,000 after purchasing an additional 149 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Sanford C. Bernstein set a $87.00 price target on Sysco and gave the stock an "overweight" rating in a research note on Tuesday, April 22nd. BMO Capital Markets decreased their price objective on Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. JPMorgan Chase & Co. upped their price objective on Sysco from $82.00 to $85.00 and gave the stock an "overweight" rating in a report on Tuesday, May 20th. Citigroup initiated coverage on Sysco in a report on Thursday, May 22nd. They set a "neutral" rating and a $78.00 price objective on the stock. Finally, Wall Street Zen cut Sysco from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 20th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Sysco currently has a consensus rating of "Moderate Buy" and an average price target of $83.00.

Sysco Stock Performance

NYSE:SYY opened at $74.71 on Friday. The stock's fifty day moving average is $72.41 and its 200 day moving average is $73.54. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $82.23. The firm has a market capitalization of $36.21 billion, a PE ratio of 19.35, a PEG ratio of 2.42 and a beta of 0.81. The company has a debt-to-equity ratio of 6.37, a quick ratio of 0.76 and a current ratio of 1.26.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings results 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 net margin of 2.36% and a return on equity of 107.96%. The company had revenue of $19.60 billion for the quarter, compared to analysts' expectations of $20.11 billion. During the same quarter in the previous year, the company posted $0.96 EPS. The business's quarterly revenue was up 1.1% on a year-over-year basis. On average, sell-side analysts anticipate that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Increases Dividend

The business 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 annualized dividend and a yield of 2.89%. The ex-dividend date is Thursday, July 3rd. This is a positive change from Sysco's previous quarterly dividend of $0.51. Sysco's dividend payout ratio is presently 52.85%.

Insider Buying and Selling at Sysco

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

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.

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