Federated Hermes Inc. Acquires 4,035 Shares of Sysco Co. (NYSE:SYY)

Federated Hermes Inc. increased its holdings in Sysco Co. (NYSE:SYY) by 8.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,383 shares of the company’s stock after buying an additional 4,035 shares during the period. Federated Hermes Inc.’s holdings in Sysco were worth $3,831,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of SYY. Invesco Ltd. raised its position in shares of Sysco by 11.0% in the 3rd quarter. Invesco Ltd. now owns 10,859,690 shares of the company’s stock worth $717,283,000 after acquiring an additional 1,076,287 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Sysco by 3.0% in the 3rd quarter. Northern Trust Corp now owns 6,138,310 shares of the company’s stock valued at $405,435,000 after buying an additional 178,464 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Sysco by 4.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 5,651,746 shares of the company’s stock worth $373,298,000 after buying an additional 265,621 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Sysco by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,738,940 shares of the company’s stock worth $180,907,000 after acquiring an additional 21,700 shares in the last quarter. Finally, Clarkston Capital Partners LLC lifted its position in Sysco by 0.4% during the third quarter. Clarkston Capital Partners LLC now owns 2,320,060 shares of the company’s stock valued at $153,240,000 after acquiring an additional 9,385 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

NYSE SYY opened at $77.07 on Friday. The company has a fifty day moving average of $79.16 and a 200 day moving average of $74.78. The company has a market capitalization of $38.37 billion, a PE ratio of 18.84, a P/E/G ratio of 1.57 and a beta of 1.15. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.37 and a quick ratio of 0.80. Sysco Co. has a 1 year low of $62.24 and a 1 year high of $82.89.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, January 30th. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.01. The business had revenue of $19.29 billion during the quarter, compared to analysts’ expectations of $19.32 billion. Sysco had a return on equity of 105.22% and a net margin of 2.69%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.80 EPS. Research analysts forecast that Sysco Co. will post 4.3 earnings per share for the current year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 5th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.60%. The ex-dividend date was Thursday, April 4th. Sysco’s dividend payout ratio (DPR) is 48.90%.

Insider Activity at Sysco

In other Sysco news, CAO Neil Russell sold 1,722 shares of Sysco stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total value of $137,760.00. Following the completion of the transaction, the chief accounting officer now owns 24,082 shares of the company’s stock, valued at $1,926,560. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SYY shares. Barclays increased their price objective on Sysco from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. JPMorgan Chase & Co. boosted their price target on Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. BMO Capital Markets boosted their target price on shares of Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Finally, Stephens raised their price target on shares of Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Sysco currently has an average rating of “Moderate Buy” and an average price target of $85.38.

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.