Gilman Hill Asset Management LLC Trims Stock Holdings in Sysco Co. (NYSE:SYY)

Gilman Hill Asset Management LLC cut its holdings in shares of Sysco Co. (NYSE:SYY) by 2.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 53,306 shares of the company’s stock after selling 1,352 shares during the quarter. Gilman Hill Asset Management LLC’s holdings in Sysco were worth $4,161,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Willner & Heller LLC bought a new stake in shares of Sysco in the third quarter worth $214,000. Koshinski Asset Management Inc. grew its holdings in Sysco by 3.1% during the 3rd quarter. Koshinski Asset Management Inc. now owns 4,913 shares of the company’s stock worth $383,000 after acquiring an additional 146 shares in the last quarter. Crestmont Private Wealth LLC bought a new stake in shares of Sysco in the 3rd quarter worth about $205,000. CHICAGO TRUST Co NA raised its stake in shares of Sysco by 43.6% in the 3rd quarter. CHICAGO TRUST Co NA now owns 5,435 shares of the company’s stock valued at $424,000 after purchasing an additional 1,650 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in shares of Sysco by 147.4% during the third quarter. Exchange Traded Concepts LLC now owns 20,533 shares of the company’s stock worth $1,603,000 after purchasing an additional 12,235 shares during the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on SYY. Jefferies Financial Group upped their price objective on Sysco from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Truist Financial dropped their price objective on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, June 24th. Bank of America reduced their price target on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Morgan Stanley dropped their target price on Sysco from $82.00 to $81.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Finally, JPMorgan Chase & Co. boosted their price objective on Sysco from $85.00 to $88.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and an average price target of $86.08.

Sysco Trading Up 0.8 %

Shares of SYY stock traded up $0.62 during trading hours on Friday, reaching $74.42. 4,011,959 shares of the stock traded hands, compared to its average volume of 4,018,489. The firm has a market capitalization of $36.56 billion, a PE ratio of 19.13, a PEG ratio of 1.92 and a beta of 1.20. The business has a fifty day moving average price of $76.53 and a 200 day moving average price of $75.08. The company has a quick ratio of 0.69, a current ratio of 1.20 and a debt-to-equity ratio of 6.19. Sysco Co. has a 1-year low of $62.45 and a 1-year high of $82.89.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.01. The firm had revenue of $20.56 billion during the quarter, compared to analyst estimates of $20.51 billion. Sysco had a return on equity of 102.09% and a net margin of 2.48%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period last year, the company posted $1.34 EPS. On average, equities research analysts forecast that Sysco Co. will post 4.6 EPS for the current year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.04 annualized dividend and a yield of 2.74%. Sysco’s dividend payout ratio is presently 52.44%.

Sysco Company 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.