Envestnet Asset Management Inc. Reduces Holdings in Sysco Co. (NYSE:SYY)

Envestnet Asset Management Inc. lessened its holdings in shares of Sysco Co. (NYSE:SYY - Free Report) by 25.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,486,790 shares of the company's stock after selling 496,540 shares during the period. Envestnet Asset Management Inc. owned 0.30% of Sysco worth $113,680,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Stonebridge Financial Group LLC purchased a new stake in shares of Sysco during the 4th quarter worth approximately $31,000. Sherman Asset Management Inc. acquired a new stake in Sysco during the 4th quarter worth $31,000. Flagship Wealth Advisors LLC purchased a new stake in Sysco in the fourth quarter valued at $31,000. SRS Capital Advisors Inc. lifted its position in 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 acquiring an additional 149 shares during the last quarter. Finally, HHM Wealth Advisors LLC boosted its stake in 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 acquiring an additional 321 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company's stock.

Sysco Price Performance

SYY stock traded up $0.71 on Friday, reaching $70.39. 2,453,247 shares of the company's stock were exchanged, compared to its average volume of 3,331,247. The firm has a market cap of $34.44 billion, a PE ratio of 18.09, a P/E/G ratio of 1.88 and a beta of 0.91. Sysco Co. has a twelve month low of $67.12 and a twelve month high of $82.23. The stock has a fifty day moving average of $72.61 and a 200-day moving average of $74.74. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66.

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Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 EPS 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 prior year, the company earned $0.89 EPS. As a group, equities analysts predict that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The company also recently announced 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. This represents a $2.04 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Friday, April 4th. Sysco's dividend payout ratio (DPR) is 52.44%.

Analyst Ratings Changes

Several analysts have recently weighed in on SYY shares. Melius Research raised Sysco to a "hold" rating in a report on Wednesday, December 18th. Wells Fargo & Company boosted their price objective on Sysco from $82.00 to $87.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Barclays lowered their target price on shares of Sysco from $93.00 to $85.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 29th. UBS Group reduced their price target on shares of 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 reiterated a "buy" rating and set a $85.00 price target on shares of Sysco in a research note on Wednesday, January 29th. 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, Sysco currently has an average rating of "Moderate Buy" and an average 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.