Coho Partners Ltd. Sells 5,519 Shares of Sysco Co. (NYSE:SYY)

Coho Partners Ltd. trimmed its position in Sysco Co. (NYSE:SYY – Get Rating) by 0.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,490,579 shares of the company’s stock after selling 5,519 shares during the period. Sysco accounts for approximately 4.5% of Coho Partners Ltd.’s investment portfolio, making the stock its 4th biggest holding. Coho Partners Ltd. owned about 0.69% of Sysco worth $266,855,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Triangle Securities Wealth Management boosted its holdings in Sysco by 11.2% in the fourth quarter. Triangle Securities Wealth Management now owns 8,957 shares of the company’s stock valued at $685,000 after purchasing an additional 905 shares during the last quarter. Moody National Bank Trust Division boosted its holdings in Sysco by 10.1% in the fourth quarter. Moody National Bank Trust Division now owns 5,917 shares of the company’s stock valued at $452,000 after purchasing an additional 545 shares during the last quarter. Accurate Wealth Management LLC purchased a new stake in Sysco in the fourth quarter valued at $160,000. Foundations Investment Advisors LLC boosted its holdings in Sysco by 12.8% in the fourth quarter. Foundations Investment Advisors LLC now owns 4,000 shares of the company’s stock valued at $306,000 after purchasing an additional 455 shares during the last quarter. Finally, MADDEN SECURITIES Corp purchased a new stake in Sysco in the fourth quarter valued at $47,000. 81.18% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Truist Financial lowered their price target on shares of Sysco from $92.00 to $88.00 and set a “buy” rating on the stock in a report on Wednesday, February 1st. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 10th. Argus lowered shares of Sysco from a “buy” rating to a “hold” rating in a research note on Thursday, February 2nd. TheStreet lowered shares of Sysco from a “b” rating to a “c+” rating in a research note on Tuesday, January 31st. Finally, Morgan Stanley lowered their target price on shares of Sysco from $87.00 to $86.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 1st. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.67.

Sysco Stock Down 2.1 %

SYY opened at $72.94 on Friday. Sysco Co. has a twelve month low of $70.61 and a twelve month high of $91.53. The company has a quick ratio of 0.68, a current ratio of 1.24 and a debt-to-equity ratio of 7.20. The company has a 50-day moving average price of $77.09 and a 200 day moving average price of $79.04. The company has a market cap of $37.02 billion, a PE ratio of 26.33, a price-to-earnings-growth ratio of 1.44 and a beta of 1.10.

Sysco (NYSE:SYY – Get Rating) last released its quarterly earnings results on Tuesday, January 31st. The company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.04). The company had revenue of $18.59 billion for the quarter, compared to analyst estimates of $18.59 billion. Sysco had a return on equity of 140.94% and a net margin of 1.93%. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter last year, the company earned $0.57 EPS. Sell-side analysts expect that Sysco Co. will post 4.04 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Thursday, April 6th will be issued a $0.49 dividend. The ex-dividend date is Wednesday, April 5th. This represents a $1.96 dividend on an annualized basis and a yield of 2.69%. Sysco’s payout ratio is 70.76%.

Sysco Company Profile

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Sysco Corp. engages in selling, marketing, and distribution of food products to restaurants, healthcare and educational facilities, and lodging establishments. It operates through the following segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other. The U.S. Foodservice Operations consists of U.S.