Cerity Partners LLC Lowers Stock Position in Sysco Co. (NYSE:SYY)

Cerity Partners LLC cut its stake in shares of Sysco Co. (NYSE:SYY - Free Report) by 4.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 165,889 shares of the company's stock after selling 8,454 shares during the quarter. Cerity Partners LLC's holdings in Sysco were worth $12,712,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC acquired a new stake in shares of Sysco during the 4th quarter worth approximately $31,000. Flagship Wealth Advisors LLC purchased a new position in Sysco in the 4th quarter worth approximately $31,000. Sherman Asset Management Inc. purchased a new stake in shares of Sysco in the fourth quarter valued at approximately $31,000. SRS Capital Advisors Inc. increased its holdings in shares of Sysco by 53.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock valued at $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 4th quarter. HHM Wealth Advisors LLC now owns 620 shares of the company's stock worth $47,000 after acquiring an additional 321 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company's stock.

Sysco Stock Up 0.1 %

Shares of NYSE:SYY traded up $0.08 on Tuesday, hitting $71.92. 593,831 shares of the company's stock were exchanged, compared to its average volume of 3,317,142. Sysco Co. has a 1-year low of $67.12 and a 1-year high of $82.23. The company has a market capitalization of $35.19 billion, a PE ratio of 18.48, a P/E/G ratio of 1.88 and a beta of 0.91. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. The firm's 50-day moving average is $72.62 and its 200 day moving average is $74.70.

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Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share 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 quarter in the prior year, the firm posted $0.89 earnings per share. Sell-side analysts predict that Sysco Co. will post 4.58 EPS for the current year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend is Friday, April 4th. Sysco's dividend payout ratio is presently 52.44%.

Analyst Ratings Changes

Several brokerages recently weighed in on SYY. Wells Fargo & Company increased their price objective on Sysco from $82.00 to $87.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Jefferies Financial Group increased their target price on shares of Sysco from $91.00 to $95.00 and gave the stock a "buy" rating in a research note on Monday, December 16th. Guggenheim restated a "buy" rating and issued a $85.00 price objective on shares of Sysco in a report on Wednesday, January 29th. Barclays cut their target price on Sysco from $93.00 to $85.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 29th. Finally, Melius assumed coverage on Sysco in a report on Wednesday, December 18th. They issued a "hold" rating and a $85.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Sysco currently has a consensus rating of "Moderate Buy" and a consensus price target 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.