Strategy Asset Managers LLC Trims Stock Holdings in Sysco Co. (NYSE:SYY)

Strategy Asset Managers LLC decreased its holdings in Sysco Co. (NYSE:SYY) by 3.7% in the 4th quarter, HoldingsChannel reports. The firm owned 38,024 shares of the company’s stock after selling 1,468 shares during the quarter. Strategy Asset Managers LLC’s holdings in Sysco were worth $2,907,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Allianz SE acquired a new position in Sysco during the 4th quarter worth approximately $1,501,000. Cambridge Financial Group Inc. purchased a new position in Sysco in the fourth quarter valued at approximately $7,626,000. Allstate Corp purchased a new position in shares of Sysco in the 4th quarter valued at $1,124,000. Heartland Advisors Inc. purchased a new stake in Sysco in the fourth quarter valued at $14,827,000. Finally, DnB Asset Management AS increased its position in shares of Sysco by 3.2% during the fourth quarter. DnB Asset Management AS now owns 85,734 shares of the company’s stock worth $6,555,000 after purchasing an additional 2,673 shares in the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the sale, the executive vice president now owns 56,304 shares in the company, valued at $4,335,408. This trade represents a 46.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.54% of the stock is owned by corporate insiders.

Sysco Price Performance

SYY stock opened at $74.10 on Friday. The stock has a 50-day moving average price of $72.99 and a two-hundred day moving average price of $75.15. The company has a market cap of $36.25 billion, a PE ratio of 19.05, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. 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 Co. has a 12-month low of $69.03 and a 12-month high of $82.23.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 earnings per share. As a group, research analysts predict that Sysco Co. will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.75%. Sysco’s payout ratio is currently 52.44%.

Analyst Ratings Changes

Several research firms have commented on SYY. Melius Research raised Sysco to a “hold” rating in a research report on Wednesday, December 18th. UBS Group lowered their price objective on shares of Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Morgan Stanley dropped their price objective on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Jefferies Financial Group raised their price target on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Finally, Melius started coverage on Sysco in a research note on Wednesday, December 18th. They set a “hold” rating and a $85.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $84.77.

Sysco Company 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.