Farmers & Merchants Investments Inc. Has $14.60 Million Stock Holdings in Sysco Co. (NYSE:SYY)

Farmers & Merchants Investments Inc. reduced its holdings in Sysco Co. (NYSE:SYY) by 0.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 190,878 shares of the company’s stock after selling 1,326 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in Sysco were worth $14,595,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of SYY. Apollon Wealth Management LLC lifted its holdings in Sysco by 9.1% during the 4th quarter. Apollon Wealth Management LLC now owns 8,290 shares of the company’s stock worth $634,000 after buying an additional 694 shares during the period. Vest Financial LLC raised its position in shares of Sysco by 12.6% during the fourth quarter. Vest Financial LLC now owns 762,658 shares of the company’s stock worth $58,313,000 after acquiring an additional 85,402 shares during the last quarter. Global X Japan Co. Ltd. boosted its holdings in Sysco by 18.0% in the fourth quarter. Global X Japan Co. Ltd. now owns 6,994 shares of the company’s stock valued at $535,000 after acquiring an additional 1,068 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Sysco by 1.6% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 62,097 shares of the company’s stock valued at $4,748,000 after purchasing an additional 958 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in Sysco by 0.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,160,456 shares of the company’s stock worth $88,728,000 after purchasing an additional 6,738 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. UBS Group reduced their price objective on shares of Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Barclays decreased their price target on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Jefferies Financial Group boosted their price objective on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Guggenheim reaffirmed a “buy” rating and set a $85.00 target price on shares of Sysco in a research note on Wednesday, January 29th. Finally, Truist Financial dropped their price target on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and an average target price of $84.38.

Sysco Stock Performance

Shares of SYY stock opened at $71.13 on Friday. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The firm has a fifty day simple moving average of $75.78 and a two-hundred day simple moving average of $75.90. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.33. The firm has a market capitalization of $34.80 billion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share 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 period last year, the firm posted $0.89 EPS. Analysts forecast that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, January 3rd were issued a dividend of $0.51 per share. The ex-dividend date was Friday, January 3rd. This represents a $2.04 annualized dividend and a yield of 2.87%. Sysco’s dividend payout ratio (DPR) is currently 52.44%.

Insider Activity at Sysco

In related news, EVP Greg D. Bertrand sold 21,844 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $1,747,520.00. Following the transaction, the executive vice president now directly owns 60,581 shares in the company, valued at approximately $4,846,480. The trade was a 26.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sheila Talton sold 2,900 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total transaction of $216,427.00. Following the completion of the sale, the director now owns 12,955 shares of the company’s stock, valued at approximately $966,831.65. This trade represents a 18.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 79,270 shares of company stock valued at $6,181,946. 0.54% of the stock is owned by insiders.

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.