Commerce Bank Sells 15,537 Shares of Sysco Co. (NYSE:SYY)

Commerce Bank reduced its holdings in shares of Sysco Co. (NYSE:SYY - Free Report) by 6.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 241,021 shares of the company's stock after selling 15,537 shares during the period. Commerce Bank's holdings in Sysco were worth $18,428,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Cadence Bank lifted its position in Sysco by 1.7% during the fourth quarter. Cadence Bank now owns 66,667 shares of the company's stock valued at $5,097,000 after purchasing an additional 1,084 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of Sysco by 23.3% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 781,314 shares of the company's stock worth $59,707,000 after buying an additional 147,713 shares during the period. Marshall Wace LLP purchased a new position in shares of Sysco during the 4th quarter valued at about $2,021,000. NFJ Investment Group LLC grew its stake in shares of Sysco by 13.3% during the 4th quarter. NFJ Investment Group LLC now owns 38,172 shares of the company's stock valued at $2,919,000 after acquiring an additional 4,493 shares during the period. Finally, Regal Investment Advisors LLC increased its holdings in Sysco by 2.8% in the 4th quarter. Regal Investment Advisors LLC now owns 21,980 shares of the company's stock worth $1,681,000 after acquiring an additional 605 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company's stock.

Sysco Price Performance

Sysco stock opened at $71.71 on Friday. Sysco Co. has a 52-week low of $67.12 and a 52-week high of $82.23. The company has a market cap of $35.08 billion, a price-to-earnings ratio of 18.43, a PEG ratio of 1.88 and a beta of 0.91. The firm's fifty day moving average is $72.67 and its 200 day moving average is $74.56. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY - Get Free Report) last announced its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting 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 previous year, the business posted $0.89 EPS. Sell-side analysts forecast that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The business also recently declared 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 yield of 2.84%. Sysco's payout ratio is presently 52.44%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SYY shares. Barclays dropped their price target on shares of Sysco from $93.00 to $85.00 and set an "overweight" rating for the company in a research report on Wednesday, January 29th. Wells Fargo & Company increased their price target on Sysco from $82.00 to $87.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. StockNews.com downgraded Sysco from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. UBS Group cut their target price on Sysco from $87.00 to $86.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Finally, Guggenheim reissued a "buy" rating and issued a $85.00 price target on shares of Sysco in a report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average 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.

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