John G Ullman & Associates Inc. Has $5.64 Million Stake in Sysco Co. (NYSE:SYY)

John G Ullman & Associates Inc. decreased its position in Sysco Co. (NYSE:SYY) by 1.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 69,435 shares of the company’s stock after selling 1,100 shares during the period. John G Ullman & Associates Inc.’s holdings in Sysco were worth $5,637,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of SYY. Professional Advisory Services Inc. acquired a new position in shares of Sysco during the fourth quarter valued at about $20,057,000. Harbour Trust & Investment Management Co acquired a new position in shares of Sysco during the fourth quarter valued at about $4,623,000. Pacer Advisors Inc. raised its holdings in shares of Sysco by 40.1% during the fourth quarter. Pacer Advisors Inc. now owns 82,239 shares of the company’s stock valued at $6,014,000 after purchasing an additional 23,558 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Sysco by 16.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 298,982 shares of the company’s stock valued at $21,865,000 after purchasing an additional 41,618 shares during the period. Finally, Bridgefront Capital LLC acquired a new position in shares of Sysco during the fourth quarter valued at about $841,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on SYY. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. JPMorgan Chase & Co. lowered their target price on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, May 23rd. Barclays lowered their target price on shares of Sysco from $88.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, May 23rd. Truist Financial lowered their target price 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. Finally, Guggenheim upgraded shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 target price on the stock in a report on Tuesday, May 28th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $84.90.

Sysco Trading Up 2.9 %

Shares of NYSE SYY traded up $2.05 during midday trading on Thursday, hitting $71.69. 3,172,138 shares of the company traded hands, compared to its average volume of 3,134,550. Sysco Co. has a 12-month low of $62.24 and a 12-month high of $82.89. The company has a debt-to-equity ratio of 5.77, a quick ratio of 0.77 and a current ratio of 1.34. The stock has a 50-day moving average price of $72.86 and a 200 day moving average price of $76.16. The firm has a market cap of $35.70 billion, a P/E ratio of 17.49, a P/E/G ratio of 1.87 and a beta of 1.18.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.01. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The company had revenue of $19.38 billion for the quarter, compared to analysts’ expectations of $19.74 billion. During the same quarter in the previous year, the company earned $0.90 earnings per share. Sysco’s quarterly revenue was up 2.7% on a year-over-year basis. As a group, analysts expect that Sysco Co. will post 4.3 earnings per share for the current year.

Sysco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Friday, July 5th. This is a boost from Sysco’s previous quarterly dividend of $0.50. Sysco’s dividend payout ratio is 49.76%.

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.