Sysco Co. (NYSE:SYY) Stock Position Lowered by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC lowered its stake in shares of Sysco Co. (NYSE:SYY - Free Report) by 8.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,714 shares of the company's stock after selling 3,871 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in Sysco were worth $3,419,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Buckley Wealth Management LLC lifted its stake in Sysco by 0.8% during the fourth quarter. Buckley Wealth Management LLC now owns 18,188 shares of the company's stock worth $1,391,000 after purchasing an additional 150 shares during the last quarter. WR Wealth Planners LLC lifted its stake in Sysco by 9.9% during the fourth quarter. WR Wealth Planners LLC now owns 4,270 shares of the company's stock worth $326,000 after purchasing an additional 386 shares during the last quarter. Clark & Stuart Inc bought a new position in Sysco during the fourth quarter worth $7,613,000. Boston Trust Walden Corp lifted its stake in Sysco by 179.5% during the fourth quarter. Boston Trust Walden Corp now owns 804,345 shares of the company's stock worth $61,500,000 after purchasing an additional 516,585 shares during the last quarter. Finally, Lmcg Investments LLC bought a new position in Sysco during the fourth quarter worth $3,668,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Sysco Price Performance

NYSE:SYY traded down $1.68 during mid-day trading on Friday, reaching $70.86. 3,719,482 shares of the stock were exchanged, compared to its average volume of 3,362,262. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The business has a fifty day moving average price of $72.80 and a 200 day moving average price of $74.44. Sysco Co. has a 1-year low of $67.12 and a 1-year high of $82.23. The firm has a market capitalization of $34.67 billion, a PE ratio of 18.22, a PEG ratio of 1.88 and a beta of 0.91.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period in the previous year, the firm earned $0.89 EPS. Research analysts expect that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be given a $0.54 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This is a boost from Sysco's previous quarterly dividend of $0.51. This represents a $2.16 annualized dividend and a yield of 3.05%. Sysco's payout ratio is 55.53%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SYY. Truist Financial reduced their price objective on Sysco from $85.00 to $83.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. StockNews.com cut Sysco from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. cut their target price on Sysco from $86.00 to $82.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 4th. Guggenheim reiterated a "buy" rating and issued a $85.00 target price on shares of Sysco in a research note on Wednesday, January 29th. Finally, Barclays raised their target price on Sysco from $85.00 to $87.00 and gave the company an "overweight" rating in a research note on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Sysco has a consensus rating of "Moderate Buy" and a consensus target price of $85.07.

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.