Wellington Management Group LLP Has $294.40 Million Stock Position in Sysco Co. (NYSE:SYY)

Wellington Management Group LLP cut its position in Sysco Co. (NYSE:SYY) by 0.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,850,400 shares of the company’s stock after selling 31,174 shares during the quarter. Wellington Management Group LLP’s holdings in Sysco were worth $294,402,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC acquired a new position in shares of Sysco in the 4th quarter worth approximately $31,000. Flagship Wealth Advisors LLC acquired a new position in Sysco in the fourth quarter worth $31,000. Sherman Asset Management Inc. bought a new stake in shares of Sysco during the fourth quarter worth $31,000. SRS Capital Advisors Inc. grew its holdings in shares of Sysco by 53.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after purchasing an additional 149 shares during the last quarter. Finally, HHM Wealth Advisors LLC increased its stake in shares of Sysco by 107.4% in the fourth quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock valued at $47,000 after buying an additional 321 shares in the last quarter. 83.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Melius began coverage on shares of Sysco in a report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price objective on the stock. Barclays decreased their price target on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Jefferies Financial Group boosted their price objective on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Wells Fargo & Company increased their price objective on Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Finally, Guggenheim restated a “buy” rating and set a $85.00 target price on shares of Sysco in a research report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and an average price target of $84.77.

Insider Transactions at Sysco

In related news, EVP Greg D. Bertrand sold 48,027 shares of the 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 directly owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This represents a 46.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.54% of the stock is currently owned by insiders.

Sysco Stock Up 0.6 %

Sysco stock opened at $75.46 on Wednesday. The firm has a market capitalization of $36.91 billion, a price-to-earnings ratio of 19.40, a PEG ratio of 1.88 and a beta of 1.11. The company’s 50 day simple moving average is $73.07 and its 200 day simple moving average is $75.10. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.23.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting 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 quarter in the previous year, the business earned $0.89 EPS. As a group, sell-side analysts anticipate that Sysco Co. will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be issued a $0.51 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.70%. Sysco’s dividend payout ratio (DPR) is currently 52.44%.

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.