Acadian Asset Management LLC Sells 182,801 Shares of SYSCO Co. (SYY)

Acadian Asset Management LLC reduced its holdings in shares of SYSCO Co. (NYSE:SYY) by 17.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 883,212 shares of the company’s stock after selling 182,801 shares during the period. Acadian Asset Management LLC owned 0.17% of SYSCO worth $53,636,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of SYY. First Personal Financial Services raised its holdings in SYSCO by 293.2% in the third quarter. First Personal Financial Services now owns 1,962 shares of the company’s stock worth $106,000 after buying an additional 1,463 shares during the last quarter. Acrospire Investment Management LLC raised its holdings in SYSCO by 84.6% in the second quarter. Acrospire Investment Management LLC now owns 2,400 shares of the company’s stock worth $121,000 after buying an additional 1,100 shares during the last quarter. Manchester Capital Management LLC raised its holdings in SYSCO by 13.4% in the second quarter. Manchester Capital Management LLC now owns 2,538 shares of the company’s stock worth $128,000 after buying an additional 300 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in SYSCO by 465.7% in the third quarter. Advisors Asset Management Inc. now owns 2,783 shares of the company’s stock worth $150,000 after buying an additional 2,291 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC raised its holdings in SYSCO by 51.9% in the third quarter. Thompson Siegel & Walmsley LLC now owns 2,926 shares of the company’s stock worth $158,000 after buying an additional 1,000 shares during the last quarter. 80.08% of the stock is owned by institutional investors.

SYSCO Co. (SYY) opened at $62.22 on Friday. The company has a current ratio of 1.40, a quick ratio of 0.88 and a debt-to-equity ratio of 3.77. SYSCO Co. has a twelve month low of $48.85 and a twelve month high of $62.79. The firm has a market cap of $32,420.00, a P/E ratio of 28.41, a PEG ratio of 2.44 and a beta of 0.53.

SYSCO (NYSE:SYY) last released its quarterly earnings data on Monday, November 6th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.02. SYSCO had a net margin of 2.12% and a return on equity of 58.47%. The firm had revenue of $14.65 billion during the quarter, compared to analysts’ expectations of $14.43 billion. During the same period in the previous year, the company earned $0.67 earnings per share. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. analysts anticipate that SYSCO Co. will post 2.81 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Friday, January 5th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.31%. This is a boost from SYSCO’s previous quarterly dividend of $0.33. The ex-dividend date is Thursday, January 4th. SYSCO’s payout ratio is presently 65.75%.

Several research analysts have issued reports on the stock. Zacks Investment Research raised shares of SYSCO from a “hold” rating to a “strong-buy” rating and set a $71.00 target price for the company in a report on Wednesday, January 10th. Morgan Stanley raised shares of SYSCO from an “underweight” rating to an “equal weight” rating and set a $64.00 target price for the company in a report on Tuesday. Pivotal Research lifted their target price on shares of SYSCO from $53.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, December 12th. BMO Capital Markets set a $66.00 target price on shares of SYSCO and gave the stock a “buy” rating in a report on Friday, December 8th. Finally, Loop Capital lifted their target price on shares of SYSCO to $68.00 and gave the stock a “buy” rating in a report on Monday, December 11th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $59.92.

In related news, SVP Greg D. Bertrand sold 81,038 shares of the business’s stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $60.76, for a total transaction of $4,923,868.88. Following the completion of the sale, the senior vice president now directly owns 69,721 shares in the company, valued at $4,236,247.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Wayne Shurts sold 7,800 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $54.86, for a total transaction of $427,908.00. Following the sale, the executive vice president now owns 58,776 shares of the company’s stock, valued at $3,224,451.36. The disclosure for this sale can be found here. Insiders have sold 302,495 shares of company stock valued at $17,294,631 over the last three months. 9.60% of the stock is owned by corporate insiders.

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SYSCO Profile

Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.

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Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

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