Gilman Hill Asset Management LLC Grows Stake in Sysco Co. (NYSE:SYY)

Gilman Hill Asset Management LLC boosted its stake in shares of Sysco Co. (NYSE:SYYGet Rating) by 14.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,734 shares of the company’s stock after purchasing an additional 4,445 shares during the period. Gilman Hill Asset Management LLC’s holdings in Sysco were worth $2,942,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of SYY. CFS Investment Advisory Services LLC lifted its position in Sysco by 8,046.2% during the first quarter. CFS Investment Advisory Services LLC now owns 2,049,905 shares of the company’s stock valued at $25,000 after purchasing an additional 2,024,741 shares in the last quarter. Oliver Lagore Vanvalin Investment Group purchased a new position in Sysco during the first quarter valued at $29,000. DeDora Capital Inc. purchased a new position in shares of Sysco in the first quarter valued at about $31,000. Column Capital Advisors LLC lifted its position in shares of Sysco by 4,900.0% in the first quarter. Column Capital Advisors LLC now owns 400 shares of the company’s stock valued at $33,000 after acquiring an additional 392 shares in the last quarter. Finally, Mascoma Wealth Management LLC lifted its position in shares of Sysco by 80.0% in the first quarter. Mascoma Wealth Management LLC now owns 414 shares of the company’s stock valued at $34,000 after acquiring an additional 184 shares in the last quarter. 82.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SYY has been the topic of several research analyst reports. Credit Suisse Group lowered their price objective on Sysco from $107.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 10th. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 14th. Truist Financial reduced their target price on Sysco from $98.00 to $92.00 and set a “buy” rating on the stock in a report on Wednesday, August 10th. Stephens began coverage on Sysco in a report on Thursday. They issued an “overweight” rating and a $90.00 target price on the stock. Finally, JPMorgan Chase & Co. raised Sysco from a “neutral” rating to an “overweight” rating and set a $98.00 target price on the stock in a report on Thursday, May 26th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $93.67.

Sysco Stock Down 2.4 %

Shares of SYY stock traded down $1.85 during trading hours on Friday, reaching $75.53. 26,157 shares of the company’s stock were exchanged, compared to its average volume of 1,773,847. The stock’s 50 day moving average is $83.98 and its 200-day moving average is $83.51. The company has a market cap of $38.23 billion, a price-to-earnings ratio of 29.31, a P/E/G ratio of 2.07 and a beta of 1.01. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 7.28. Sysco Co. has a fifty-two week low of $68.05 and a fifty-two week high of $91.53.

Sysco (NYSE:SYYGet Rating) last released its earnings results on Tuesday, August 9th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.03. Sysco had a return on equity of 119.55% and a net margin of 1.98%. The firm had revenue of $18.96 billion for the quarter, compared to the consensus estimate of $18.29 billion. During the same period in the prior year, the firm earned $0.71 EPS. The firm’s revenue was up 17.5% on a year-over-year basis. Analysts predict that Sysco Co. will post 4.2 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 7th will be given a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend is Thursday, October 6th. Sysco’s payout ratio is 74.24%.

About Sysco

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Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products primarily 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.

See Also

Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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