Federated Hermes Inc. Sells 31,442 Shares of Sysco Co. (NYSE:SYY)

Federated Hermes Inc. trimmed its stake in Sysco Co. (NYSE:SYY - Free Report) by 88.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,065 shares of the company's stock after selling 31,442 shares during the period. Federated Hermes Inc.'s holdings in Sysco were worth $311,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of SYY. Vanguard Group Inc. raised its position in shares of Sysco by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 61,519,424 shares of the company's stock worth $4,703,775,000 after acquiring an additional 429,711 shares during the last quarter. Boston Partners lifted its position in shares of Sysco by 143.7% in the 4th quarter. Boston Partners now owns 12,184,114 shares of the company's stock worth $930,296,000 after purchasing an additional 7,184,754 shares during the period. Geode Capital Management LLC boosted its stake in shares of Sysco by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 11,868,965 shares of the company's stock valued at $905,120,000 after purchasing an additional 233,885 shares during the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of Sysco by 7.8% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 7,206,978 shares of the company's stock worth $551,046,000 after buying an additional 521,431 shares during the period. Finally, Norges Bank bought a new position in Sysco during the fourth quarter worth $450,441,000. 83.41% of the stock is owned by institutional investors.

Sysco Stock Up 0.4 %

Shares of SYY stock traded up $0.30 during trading hours on Wednesday, reaching $73.59. The company had a trading volume of 568,450 shares, compared to its average volume of 3,596,746. The company has a market cap of $36.00 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 1.88 and a beta of 0.91. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. Sysco Co. has a 12 month low of $67.12 and a 12 month high of $82.23. The business has a fifty day simple moving average of $72.72 and a 200-day simple moving average of $74.49.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter in the prior year, the business posted $0.89 EPS. On average, research analysts expect that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.77%. Sysco's payout ratio is presently 52.44%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SYY. Morgan Stanley decreased their price target on Sysco from $79.00 to $77.00 and set an "equal weight" rating for the company in a report on Wednesday, January 29th. JPMorgan Chase & Co. lowered their target price on Sysco from $86.00 to $82.00 and set an "overweight" rating for the company in a report on Tuesday, February 4th. UBS Group cut their price target on Sysco from $87.00 to $86.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Wells Fargo & Company lifted their price objective on shares of Sysco from $82.00 to $87.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Finally, Guggenheim reissued a "buy" rating and set a $85.00 target price on shares of Sysco in a research note on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $84.92.

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.