STA Wealth Management LLC cut its stake in SYSCO Co. (NYSE:SYY) by 14.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,271 shares of the company’s stock after selling 1,023 shares during the period. STA Wealth Management LLC’s holdings in SYSCO were worth $381,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in SYY. Candriam Luxembourg S.C.A. boosted its holdings in SYSCO by 5.8% in the third quarter. Candriam Luxembourg S.C.A. now owns 65,999 shares of the company’s stock valued at $3,561,000 after acquiring an additional 3,645 shares during the last quarter. Sei Investments Co. boosted its holdings in SYSCO by 17.1% in the third quarter. Sei Investments Co. now owns 279,131 shares of the company’s stock valued at $15,059,000 after acquiring an additional 40,736 shares during the last quarter. Tower Bridge Advisors bought a new stake in SYSCO in the third quarter valued at approximately $244,000. Dividend Assets Capital LLC boosted its holdings in SYSCO by 65.2% in the third quarter. Dividend Assets Capital LLC now owns 11,575 shares of the company’s stock valued at $624,000 after acquiring an additional 4,570 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in SYSCO by 1.2% in the third quarter. CIBC Asset Management Inc now owns 101,797 shares of the company’s stock valued at $5,492,000 after acquiring an additional 1,175 shares during the last quarter. Institutional investors and hedge funds own 79.05% of the company’s stock.
SYSCO Co. (NYSE SYY) opened at $60.70 on Wednesday. The stock has a market capitalization of $31,586.52, a P/E ratio of 27.10, a price-to-earnings-growth ratio of 2.03 and a beta of 0.60. SYSCO Co. has a twelve month low of $48.85 and a twelve month high of $64.27. The company has a current ratio of 1.38, a quick ratio of 0.85 and a debt-to-equity ratio of 3.66.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 27th. Shareholders of record on Friday, April 6th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend is Thursday, April 5th. SYSCO’s payout ratio is 64.29%.
In other news, SVP William W. Goetz sold 11,323 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $62.00, for a total transaction of $702,026.00. Following the transaction, the senior vice president now directly owns 35,825 shares of the company’s stock, valued at $2,221,150. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul T. Moskowitz sold 15,334 shares of the company’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $60.69, for a total value of $930,620.46. Following the transaction, the insider now directly owns 58,329 shares in the company, valued at $3,539,987.01. The disclosure for this sale can be found here. Insiders have sold a total of 144,429 shares of company stock worth $8,784,264 over the last 90 days. Company insiders own 9.60% of the company’s stock.
Several analysts recently commented on SYY shares. Loop Capital reduced their target price on SYSCO from $72.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, February 6th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $61.00 target price on shares of SYSCO in a report on Tuesday, February 6th. Zacks Investment Research upgraded SYSCO from a “hold” rating to a “strong-buy” rating and set a $71.00 target price on the stock in a report on Wednesday, January 10th. Pivotal Research upped their target price on SYSCO from $53.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, December 12th. Finally, BMO Capital Markets set a $66.00 price target on SYSCO and gave the stock a “buy” rating in a report on Friday, December 8th. 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 company. The company presently has an average rating of “Buy” and an average price target of $65.20.
SYSCO Company 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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