Carnegie Capital Asset Management LLC Sells 5,199 Shares of Sysco Co. (NYSE:SYY)

Carnegie Capital Asset Management LLC trimmed its holdings in shares of Sysco Co. (NYSE:SYY) by 16.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,145 shares of the company’s stock after selling 5,199 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in Sysco were worth $1,912,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AdvisorNet Financial Inc increased its stake in shares of Sysco by 74.0% in the 4th quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock worth $27,000 after purchasing an additional 159 shares in the last quarter. Hexagon Capital Partners LLC increased its position in Sysco by 74.6% in the third quarter. Hexagon Capital Partners LLC now owns 419 shares of the company’s stock worth $28,000 after buying an additional 179 shares in the last quarter. Sunbelt Securities Inc. bought a new position in shares of Sysco in the first quarter worth about $32,000. Tyler Stone Wealth Management purchased a new position in shares of Sysco during the 2nd quarter valued at about $37,000. Finally, MayTech Global Investments LLC bought a new position in shares of Sysco during the 4th quarter valued at approximately $38,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Trading Up 0.5 %

SYY opened at $75.65 on Tuesday. The company has a debt-to-equity ratio of 5.00, a quick ratio of 0.80 and a current ratio of 1.37. The stock’s 50 day moving average price is $79.69 and its 200-day moving average price is $74.15. Sysco Co. has a one year low of $62.24 and a one year high of $82.89. The stock has a market cap of $37.66 billion, a price-to-earnings ratio of 18.50, a P/E/G ratio of 1.53 and a beta of 1.15.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, January 30th. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. Sysco had a return on equity of 105.22% and a net margin of 2.69%. The company had revenue of $19.29 billion for the quarter, compared to the consensus estimate of $19.32 billion. During the same quarter in the prior year, the company posted $0.80 EPS. Sysco’s quarterly revenue was up 3.7% on a year-over-year basis. On average, equities analysts forecast that Sysco Co. will post 4.3 EPS for the current year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 5th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.64%. The ex-dividend date is Thursday, April 4th. Sysco’s dividend payout ratio is presently 48.90%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Stephens upped their price target on shares of Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. BMO Capital Markets increased their price target on Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. Barclays lifted their target price on Sysco from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. Finally, JPMorgan Chase & Co. upped their price target on Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $85.38.

Insider Activity at Sysco

In other news, CAO Neil Russell sold 1,722 shares of Sysco stock in a transaction that occurred on 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 of the company’s stock, valued at $1,926,560. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.58% of the stock is currently owned by company insiders.

About Sysco

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.