SYSCO Co. (SYY) Shares Sold by KBC Group NV

KBC Group NV cut its holdings in shares of SYSCO Co. (NYSE:SYY) by 15.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 529,505 shares of the company’s stock after selling 94,789 shares during the period. KBC Group NV owned 0.10% of SYSCO worth $32,157,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Exane Derivatives increased its stake in shares of SYSCO by 137.8% during the third quarter. Exane Derivatives now owns 48,699 shares of the company’s stock valued at $2,627,000 after buying an additional 28,217 shares during the period. FDx Advisors Inc. increased its stake in shares of SYSCO by 27.6% during the third quarter. FDx Advisors Inc. now owns 35,396 shares of the company’s stock valued at $1,910,000 after buying an additional 7,652 shares during the period. Vident Investment Advisory LLC purchased a new position in shares of SYSCO during the third quarter valued at approximately $393,000. Chicago Partners Investment Group LLC increased its stake in shares of SYSCO by 637.5% during the third quarter. Chicago Partners Investment Group LLC now owns 5,900 shares of the company’s stock valued at $318,000 after buying an additional 5,100 shares during the period. Finally, Quantum Capital Management purchased a new position in shares of SYSCO during the third quarter valued at approximately $863,000. 80.09% of the stock is currently owned by hedge funds and other institutional investors.

In other news, SVP William W. Goetz sold 11,323 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $62.00, for a total value of $702,026.00. Following the sale, the senior vice president now directly owns 35,825 shares of the company’s stock, valued at $2,221,150. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Wayne Shurts sold 15,600 shares of the stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $61.44, for a total value of $958,464.00. Following the completion of the sale, the insider now directly owns 55,235 shares in the company, valued at $3,393,638.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 294,695 shares of company stock worth $16,866,723. Insiders own 9.60% of the company’s stock.

Several equities research analysts recently weighed in on SYY shares. Loop Capital reduced their price target on SYSCO from $72.00 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday, February 6th. Pivotal Research reduced their price target on SYSCO from $68.00 to $61.00 and set a “buy” rating on the stock in a research note on Tuesday, February 6th. BMO Capital Markets set a $66.00 price target on SYSCO and gave the stock a “buy” rating in a research note on Friday, December 8th. Bank of America upped their price target on SYSCO from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Finally, Morgan Stanley raised SYSCO from an “underweight” rating to an “equal weight” rating and set a $64.00 price target on the stock in a research note on Tuesday, January 16th. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $65.20.

Shares of SYSCO Co. (NYSE:SYY) opened at $58.33 on Friday. SYSCO Co. has a 12 month low of $48.85 and a 12 month high of $64.27. The company has a market capitalization of $30,443.54, a price-to-earnings ratio of 22.18, a PEG ratio of 1.96 and a beta of 0.56. The company has a quick ratio of 0.88, a current ratio of 1.38 and a debt-to-equity ratio of 3.66.

SYSCO (NYSE:SYY) last released its earnings results on Monday, February 5th. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. SYSCO had a return on equity of 61.02% and a net margin of 2.10%. The firm had revenue of $14.41 billion for the quarter, compared to analysts’ expectations of $14.15 billion. During the same period in the prior year, the firm posted $0.58 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. equities research analysts anticipate that SYSCO Co. will post 2.95 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, January 26th. Stockholders of record on Friday, January 5th were paid a $0.36 dividend. This is a boost from SYSCO’s previous quarterly dividend of $0.33. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date was Thursday, January 4th. SYSCO’s dividend payout ratio is currently 64.29%.

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About SYSCO

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.

Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

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