Sysco Co. (NYSE:SYY) Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC reduced its position in shares of Sysco Co. (NYSE:SYY) by 4.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 161,840 shares of the company’s stock after selling 8,335 shares during the period. Manning & Napier Advisors LLC’s holdings in Sysco were worth $12,374,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. State Street Corp grew its position in Sysco by 11.1% in the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after acquiring an additional 2,721,449 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its stake in shares of Sysco by 11.2% in the third 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. Primecap Management Co. CA grew its holdings in shares of Sysco by 9.7% in the third quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company’s stock valued at $374,410,000 after purchasing an additional 422,954 shares in the last quarter. Montrusco Bolton Investments Inc. increased its stake in Sysco by 8.5% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company’s stock worth $366,789,000 after buying an additional 375,409 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in Sysco by 4.1% during the 3rd quarter. Janus Henderson Group PLC now owns 4,265,723 shares of the company’s stock worth $332,983,000 after buying an additional 168,163 shares in the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Sysco

In other Sysco news, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the transaction, the director now directly owns 12,955 shares in the company, valued at approximately $966,831.65. The trade was a 18.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Eve M. Mcfadden sold 4,036 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the sale, the senior vice president now owns 48,451 shares of the company’s stock, valued at $3,638,670.10. This trade represents a 7.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 83,306 shares of company stock worth $6,485,050 in the last 90 days. 0.54% of the stock is owned by insiders.

Sysco Price Performance

Shares of SYY opened at $71.96 on Thursday. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.89. The stock has a market cap of $35.35 billion, a PE ratio of 18.50, a price-to-earnings-growth ratio of 2.04 and a beta of 1.18. The firm has a fifty day moving average price of $76.43 and a 200 day moving average price of $76.03.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. Sysco had a return on equity of 101.04% and a net margin of 2.44%. During the same period in the prior year, the company posted $0.89 earnings per share. As a group, sell-side analysts anticipate that Sysco Co. will post 4.57 EPS for the current year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 3rd were issued a $0.51 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.83%. Sysco’s payout ratio is 52.44%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SYY. Morgan Stanley cut their price objective on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Barclays cut their price target on Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday. Melius Research upgraded Sysco to a “hold” rating in a research note on Wednesday, December 18th. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday. Finally, Jefferies Financial Group boosted their price target on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.21.

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.