Taylor Hoffman Capital Management LLC Sells 1,000 Shares of Sysco Co. (NYSE:SYY)

Taylor Hoffman Capital Management LLC cut its holdings in Sysco Co. (NYSE:SYY) by 15.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,579 shares of the company’s stock after selling 1,000 shares during the quarter. Taylor Hoffman Capital Management LLC’s holdings in Sysco were worth $427,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of SYY. Barclays PLC lifted its holdings in shares of Sysco by 43.2% during the 3rd quarter. Barclays PLC now owns 1,715,356 shares of the company’s stock valued at $133,902,000 after buying an additional 517,219 shares during the period. Park Avenue Securities LLC lifted its holdings in shares of Sysco by 25.1% during the 4th quarter. Park Avenue Securities LLC now owns 10,807 shares of the company’s stock valued at $826,000 after buying an additional 2,167 shares during the period. HB Wealth Management LLC lifted its holdings in shares of Sysco by 4.5% during the 4th quarter. HB Wealth Management LLC now owns 19,298 shares of the company’s stock valued at $1,476,000 after buying an additional 824 shares during the period. Aaron Wealth Advisors LLC lifted its holdings in shares of Sysco by 42.8% during the 4th quarter. Aaron Wealth Advisors LLC now owns 5,327 shares of the company’s stock valued at $407,000 after buying an additional 1,596 shares during the period. Finally, LVW Advisors LLC lifted its holdings in shares of Sysco by 13.1% during the 4th quarter. LVW Advisors LLC now owns 3,257 shares of the company’s stock valued at $249,000 after buying an additional 378 shares during the period. 83.41% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Sysco news, Director Sheila Talton sold 356 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $70.84, for a total transaction of $25,219.04. Following the completion of the transaction, the director now owns 12,738 shares of the company’s stock, valued at $902,359.92. This represents a 2.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.54% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on SYY. Sanford C. Bernstein set a $87.00 price target on Sysco and gave the company an “overweight” rating in a report on Tuesday, April 22nd. Morgan Stanley reduced their price objective on Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. BMO Capital Markets reduced their price objective on Sysco from $82.00 to $77.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. UBS Group reduced their price objective on Sysco from $86.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. Finally, Barclays reduced their price objective on Sysco from $87.00 to $77.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Three 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $83.62.

Sysco Trading Up 1.0%

Shares of SYY stock opened at $73.70 on Wednesday. Sysco Co. has a 52-week low of $67.12 and a 52-week high of $82.23. 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 firm has a market capitalization of $35.73 billion, a PE ratio of 18.95, a PEG ratio of 1.88 and a beta of 0.80. The stock has a fifty day simple moving average of $71.79 and a two-hundred day simple moving average of $74.02.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share (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 business had revenue of $19.60 billion during the quarter, compared to analysts’ expectations of $20.11 billion. During the same quarter in the previous year, the company posted $0.96 EPS. The company’s quarterly revenue was up 1.1% on a year-over-year basis. On average, analysts predict that Sysco Co. will post 4.58 EPS 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 paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date is Thursday, July 3rd. This is a positive change from Sysco’s previous quarterly dividend of $0.51. Sysco’s dividend payout ratio is presently 55.96%.

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.