Sysco Co. (NYSE:SYY) Shares Sold by GEM Asset Management LLC

GEM Asset Management LLC reduced its holdings in Sysco Co. (NYSE:SYY) by 0.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 437,246 shares of the company’s stock after selling 3,270 shares during the quarter. Sysco comprises 18.6% of GEM Asset Management LLC’s holdings, making the stock its biggest holding. GEM Asset Management LLC’s holdings in Sysco were worth $33,432,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. National Pension Service increased its holdings in Sysco by 15.6% during the third quarter. National Pension Service now owns 1,237,017 shares of the company’s stock worth $96,562,000 after buying an additional 166,798 shares during the last quarter. New England Asset Management Inc. grew its position in shares of Sysco by 12.7% in the 3rd quarter. New England Asset Management Inc. now owns 131,360 shares of the company’s stock valued at $10,254,000 after acquiring an additional 14,810 shares during the period. Empowered Funds LLC increased its stake in shares of Sysco by 29.0% during the 3rd quarter. Empowered Funds LLC now owns 78,333 shares of the company’s stock worth $6,115,000 after purchasing an additional 17,587 shares during the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of Sysco by 11.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock valued at $521,874,000 after purchasing an additional 672,940 shares during the period. Finally, Captrust Financial Advisors lifted its stake in Sysco by 7.7% in the 3rd quarter. Captrust Financial Advisors now owns 124,341 shares of the company’s stock valued at $9,706,000 after purchasing an additional 8,891 shares during the last quarter. 83.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Melius assumed coverage on Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price target on the stock. JPMorgan Chase & Co. decreased their target price on Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Guggenheim reaffirmed a “buy” rating and set a $85.00 price target on shares of Sysco in a report on Wednesday, January 29th. Melius Research upgraded shares of Sysco to a “hold” rating in a report on Wednesday, December 18th. Finally, Jefferies Financial Group increased their price objective on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and an average price target of $84.38.

Sysco Trading Up 0.5 %

SYY opened at $70.57 on Wednesday. The company’s 50 day moving average is $75.65 and its 200-day moving average is $75.94. The company has a market cap of $34.53 billion, a P/E ratio of 18.14, a PEG ratio of 1.88 and a beta of 1.17. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.33. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting 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 company earned $0.89 EPS. Equities research analysts predict that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, January 3rd were issued a $0.51 dividend. The ex-dividend date was Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a yield of 2.89%. Sysco’s payout ratio is presently 52.44%.

Insider Buying and Selling at Sysco

In related news, Director Sheila Talton sold 2,900 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total value of $216,427.00. Following the completion of the sale, the director now directly owns 12,955 shares in the company, valued at $966,831.65. This represents a 18.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Eve M. Mcfadden sold 6,499 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $519,920.00. Following the transaction, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at approximately $3,876,080. This represents a 11.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 79,270 shares of company stock worth $6,181,946. 0.54% of the stock is currently owned by insiders.

Sysco 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.