Hsbc Holdings PLC Has $64.58 Million Holdings in Sysco Co. (NYSE:SYY)

Hsbc Holdings PLC cut its stake in Sysco Co. (NYSE:SYY - Free Report) by 18.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 844,349 shares of the company's stock after selling 193,875 shares during the quarter. Hsbc Holdings PLC owned approximately 0.17% of Sysco worth $64,582,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Stonebridge Financial Group LLC bought a new position in Sysco in the 4th quarter valued at about $31,000. Sherman Asset Management Inc. bought a new position in shares of Sysco during the fourth quarter worth approximately $31,000. Flagship Wealth Advisors LLC acquired a new stake in Sysco during the 4th quarter worth approximately $31,000. 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 valued at $33,000 after purchasing an additional 149 shares during the period. Finally, HHM Wealth Advisors LLC grew its holdings in 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 buying an additional 321 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company's stock.

Sysco Price Performance

Shares of SYY traded up $0.69 during mid-day trading on Wednesday, reaching $70.93. The company had a trading volume of 1,053,067 shares, compared to its average volume of 3,371,385. The company has a market capitalization of $34.70 billion, a price-to-earnings ratio of 18.22, a P/E/G ratio of 1.88 and a beta of 0.91. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. The company's 50 day simple moving average is $72.77 and its 200 day simple moving average is $74.38. Sysco Co. has a 1-year low of $67.12 and a 1-year high of $82.23.

Sysco (NYSE:SYY - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share for the quarter, missing analysts' consensus estimates of $1.02 by ($0.06). Sysco had a return on equity of 106.30% and a net margin of 2.40%. The company had revenue of $19.60 billion for the quarter, compared to the consensus estimate of $20.11 billion. During the same period in the previous year, the firm posted $0.96 EPS. The business's quarterly revenue was up 1.1% compared to the same quarter last year. Analysts expect that Sysco Co. will post 4.58 EPS for the current year.

Sysco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.05%. This is a positive change from Sysco's previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Thursday, July 3rd. Sysco's dividend payout ratio (DPR) is presently 55.53%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SYY. Sanford C. Bernstein set a $87.00 target price on Sysco and gave the stock an "overweight" rating in a report on Tuesday, April 22nd. StockNews.com downgraded shares of Sysco from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 20th. Morgan Stanley lowered their target price on shares of Sysco from $79.00 to $77.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 29th. UBS Group cut their price target on Sysco from $86.00 to $83.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, Wells Fargo & Company raised their price objective on Sysco from $82.00 to $87.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $84.29.

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.