NewEdge Advisors LLC Sells 16,472 Shares of Sysco Co. (NYSE:SYY)

NewEdge Advisors LLC decreased its position in Sysco Co. (NYSE:SYY - Free Report) by 41.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,040 shares of the company's stock after selling 16,472 shares during the quarter. NewEdge Advisors LLC's holdings in Sysco were worth $1,762,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Stonebridge Financial Group LLC bought a new position in Sysco during the fourth quarter valued at about $31,000. Sherman Asset Management Inc. purchased a new stake in Sysco during the 4th quarter worth about $31,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Sysco in the 4th quarter valued at about $31,000. SRS Capital Advisors Inc. raised its holdings in shares of Sysco by 53.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock valued at $33,000 after acquiring an additional 149 shares in the last quarter. Finally, HHM Wealth Advisors LLC raised its holdings in shares of Sysco by 107.4% in the 4th quarter. HHM Wealth Advisors LLC now owns 620 shares of the company's stock valued at $47,000 after acquiring an additional 321 shares in the last quarter. Institutional investors own 83.41% of the company's stock.

Sysco Stock Down 1.0 %

SYY stock traded down $0.69 during trading on Monday, hitting $70.24. 5,022,406 shares of the stock traded hands, compared to its average volume of 3,368,906. Sysco Co. has a 1 year low of $67.12 and a 1 year high of $82.23. The firm's 50 day moving average is $72.79 and its two-hundred day moving average is $74.41. The stock has a market cap of $34.36 billion, a price-to-earnings ratio of 18.06, a price-to-earnings-growth ratio of 1.88 and a beta of 0.91. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting 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 quarter in the prior year, the business posted $0.89 EPS. On average, sell-side analysts anticipate that Sysco Co. will post 4.58 EPS for the current year.

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders 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 dividend yield of 3.08%. The ex-dividend date is Thursday, July 3rd. This is an increase from Sysco's previous quarterly dividend of $0.51. Sysco's dividend payout ratio (DPR) is presently 55.53%.

Analyst Ratings Changes

SYY has been the topic of several recent research reports. Truist Financial reduced their price target on Sysco from $85.00 to $83.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Sanford C. Bernstein set a $87.00 price objective on Sysco and gave the stock an "overweight" rating in a research report on Tuesday, April 22nd. Guggenheim reiterated a "buy" rating and issued a $85.00 price objective on shares of Sysco in a research report on Wednesday, January 29th. StockNews.com lowered Sysco from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. Finally, Morgan Stanley cut their price objective on Sysco from $79.00 to $77.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $85.07.

Sysco Company 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.