Cassady Schiller Wealth Management LLC Has $1.04 Million Holdings in Sysco Co. (NYSE:SYY)

Cassady Schiller Wealth Management LLC cut its stake in shares of Sysco Co. (NYSE:SYY) by 1.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,203 shares of the company’s stock after selling 230 shares during the period. Cassady Schiller Wealth Management LLC’s holdings in Sysco were worth $1,039,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SYY. First United Bank & Trust purchased a new position in Sysco during the fourth quarter valued at approximately $26,000. AdvisorNet Financial Inc grew its position in Sysco by 74.0% during the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock valued at $27,000 after purchasing an additional 159 shares in the last quarter. Headlands Technologies LLC purchased a new position in Sysco during the fourth quarter valued at approximately $34,000. JFS Wealth Advisors LLC grew its position in Sysco by 39.3% in the fourth quarter. JFS Wealth Advisors LLC now owns 500 shares of the company’s stock worth $37,000 after acquiring an additional 141 shares in the last quarter. Finally, Milestone Investment Advisors LLC bought a new stake in Sysco in the third quarter worth approximately $40,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Neil Russell sold 1,722 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total transaction of $137,760.00. Following the completion of the sale, the chief accounting officer now owns 24,082 shares in the company, valued at approximately $1,926,560. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.58% of the stock is currently owned by corporate insiders.

Sysco Price Performance

Shares of SYY stock traded down $0.05 during mid-day trading on Thursday, reaching $72.68. The company’s stock had a trading volume of 2,185,412 shares, compared to its average volume of 2,953,636. Sysco Co. has a 1-year low of $62.24 and a 1-year high of $82.89. The company has a market cap of $36.19 billion, a P/E ratio of 17.85, a PEG ratio of 2.00 and a beta of 1.16. 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 firm’s 50-day moving average is $77.39 and its two-hundred day moving average is $76.13.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $19.74 billion. During the same quarter in the prior year, the company posted $0.90 EPS. The business’s revenue was up 2.7% on a year-over-year basis. On average, research analysts predict that Sysco Co. will post 4.31 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. Stockholders of record on Friday, July 5th will be paid a $0.51 dividend. This is a boost from Sysco’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, July 5th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.81%. Sysco’s dividend payout ratio is currently 48.78%.

Analysts Set New Price Targets

Several research firms have commented on SYY. JPMorgan Chase & Co. decreased their target price on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday. Morgan Stanley decreased their price objective on shares of Sysco from $84.00 to $82.00 and set an “equal weight” rating for the company in a report on Thursday. Truist Financial decreased their price objective on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 1st. Finally, Barclays decreased their price objective on shares of Sysco from $88.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $85.11.

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.