Earnest Partners LLC Trims Stock Position in Sysco Co. (NYSE:SYY)

Earnest Partners LLC decreased its position in Sysco Co. (NYSE:SYY - Free Report) by 3.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 935,365 shares of the company's stock after selling 38,435 shares during the quarter. Earnest Partners LLC owned 0.19% of Sysco worth $71,518,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Hancock Whitney Corp grew its holdings in shares of Sysco by 3.6% during the fourth quarter. Hancock Whitney Corp now owns 41,014 shares of the company's stock worth $3,136,000 after purchasing an additional 1,413 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Sysco during the 4th quarter valued at approximately $10,186,000. MGO One Seven LLC increased its stake in shares of Sysco by 39.4% during the 4th quarter. MGO One Seven LLC now owns 10,287 shares of the company's stock worth $787,000 after purchasing an additional 2,909 shares in the last quarter. Stifel Financial Corp increased its stake in shares of Sysco by 0.6% during the 4th quarter. Stifel Financial Corp now owns 507,150 shares of the company's stock worth $38,777,000 after purchasing an additional 3,194 shares in the last quarter. Finally, OneDigital Investment Advisors LLC increased its stake in shares of Sysco by 38.7% during the 4th quarter. OneDigital Investment Advisors LLC now owns 29,623 shares of the company's stock worth $2,265,000 after purchasing an additional 8,264 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company's stock.

Sysco Price Performance

NYSE SYY traded down $1.26 on Thursday, hitting $70.14. 2,919,899 shares of the company's stock were exchanged, compared to its average volume of 3,359,062. The stock has a 50-day moving average of $72.73 and a 200-day moving average of $74.36. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. Sysco Co. has a 52 week low of $67.12 and a 52 week high of $82.23. The stock has a market cap of $34.31 billion, a price-to-earnings ratio of 18.03, a P/E/G ratio of 1.88 and a beta of 0.91.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 EPS 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 during the quarter, compared to analyst estimates of $20.11 billion. During the same period in the prior year, the firm earned $0.96 earnings per share. Sysco's revenue was up 1.1% compared to the same quarter last year. Analysts expect that Sysco Co. 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. The ex-dividend date is Thursday, July 3rd. This represents a $2.16 annualized dividend and a yield of 3.08%. This is an increase from Sysco's previous quarterly dividend of $0.51. Sysco's dividend payout ratio is 55.96%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. UBS Group cut their target price on Sysco from $86.00 to $83.00 and set a "buy" rating on the stock in a research report on Wednesday. Morgan Stanley reduced their price target on Sysco from $79.00 to $77.00 and set an "equal weight" rating for the company in a report on Wednesday, January 29th. StockNews.com downgraded Sysco from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 20th. Guggenheim reiterated a "buy" rating and set a $85.00 price target on shares of Sysco in a research report on Wednesday, January 29th. Finally, Truist Financial lowered their target price on Sysco from $85.00 to $83.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, Sysco currently has a consensus rating of "Moderate Buy" and an average price target of $83.07.

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.