Hudson Valley Investment Advisors Inc. ADV Reduces Holdings in Sysco Co. (NYSE:SYY)

Hudson Valley Investment Advisors Inc. ADV trimmed its holdings in shares of Sysco Co. (NYSE:SYY) by 5.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,519 shares of the company’s stock after selling 569 shares during the period. Hudson Valley Investment Advisors Inc. ADV’s holdings in Sysco were worth $714,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Buckley Wealth Management LLC grew its position in shares of Sysco by 0.8% in the fourth quarter. Buckley Wealth Management LLC now owns 18,188 shares of the company’s stock valued at $1,391,000 after purchasing an additional 150 shares during the period. WR Wealth Planners LLC grew its holdings in Sysco by 9.9% in the 4th quarter. WR Wealth Planners LLC now owns 4,270 shares of the company’s stock valued at $326,000 after buying an additional 386 shares during the period. SBI Securities Co. Ltd. acquired a new position in shares of Sysco during the 4th quarter valued at about $54,000. Empower Advisory Group LLC increased its stake in shares of Sysco by 4.1% during the 4th quarter. Empower Advisory Group LLC now owns 1,054,448 shares of the company’s stock valued at $80,623,000 after acquiring an additional 41,944 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Sysco by 0.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,160,456 shares of the company’s stock valued at $88,728,000 after acquiring an additional 6,738 shares during the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Price Performance

SYY stock opened at $74.56 on Friday. 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 one year low of $67.12 and a one year high of $82.23. The firm has a market capitalization of $36.15 billion, a PE ratio of 19.17, a P/E/G ratio of 1.88 and a beta of 0.81. The firm has a 50-day moving average of $71.67 and a two-hundred day moving average of $73.71.

Sysco (NYSE:SYY) last released its 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). The business had revenue of $19.60 billion during the quarter, compared to analysts’ expectations of $20.11 billion. Sysco had a net margin of 2.40% and a return on equity of 106.30%. Sysco’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.96 EPS. On average, analysts forecast 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. Stockholders of record on Thursday, July 3rd will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.90%. 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 is 55.96%.

Insider Transactions at Sysco

In other news, Director Sheila Talton sold 356 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $70.84, for a total value of $25,219.04. Following the completion of the sale, the director now directly owns 12,738 shares of the company’s stock, valued at $902,359.92. This represents a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.54% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SYY. BMO Capital Markets cut their price target on shares of Sysco from $82.00 to $77.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. UBS Group dropped their target price on shares of Sysco from $86.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. Sanford C. Bernstein set a $87.00 target price on shares of Sysco and gave the stock an “overweight” rating in a research report on Tuesday, April 22nd. Wall Street Zen cut Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 20th. Finally, JPMorgan Chase & Co. boosted their price objective on Sysco from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 20th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Sysco currently has an average rating of “Moderate Buy” and a consensus target price of $83.00.

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.