Guggenheim Capital LLC decreased its holdings in shares of Sysco Co. (NYSE:SYY - Free Report) by 16.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 454,927 shares of the company's stock after selling 86,982 shares during the quarter. Guggenheim Capital LLC owned about 0.09% of Sysco worth $34,784,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Morse Asset Management Inc acquired a new stake in shares of Sysco in the third quarter valued at approximately $390,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Sysco during the 3rd quarter worth $368,000. Barclays PLC boosted its position in shares of Sysco by 43.2% during the 3rd quarter. Barclays PLC now owns 1,715,356 shares of the company's stock valued at $133,902,000 after acquiring an additional 517,219 shares during the last quarter. SkyView Investment Advisors LLC grew its holdings in shares of Sysco by 5.5% in the third quarter. SkyView Investment Advisors LLC now owns 8,509 shares of the company's stock valued at $664,000 after purchasing an additional 445 shares during the period. Finally, World Investment Advisors LLC acquired a new stake in Sysco during the third quarter worth about $610,000. 83.41% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities analysts have weighed in on SYY shares. UBS Group decreased their target price on shares of Sysco from $87.00 to $86.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Barclays lowered their price objective on Sysco from $93.00 to $85.00 and set an "overweight" rating for the company in a research report on Wednesday, January 29th. JPMorgan Chase & Co. reduced their target price on Sysco from $86.00 to $82.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 4th. Guggenheim reissued a "buy" rating and set a $85.00 price objective on shares of Sysco in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company upped their target price on shares of Sysco from $82.00 to $87.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, Sysco has an average rating of "Moderate Buy" and a consensus price target of $84.77.
View Our Latest Analysis on Sysco
Sysco Stock Up 1.4 %
NYSE SYY traded up $1.02 during trading hours on Friday, hitting $71.71. 2,762,479 shares of the company were exchanged, compared to its average volume of 3,339,805. The company has a 50 day moving average of $72.67 and a two-hundred day moving average of $74.54. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The firm 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. Sysco Co. has a 52-week low of $67.12 and a 52-week high of $82.23.
Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 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 quarter in the previous year, the firm posted $0.89 earnings per share. Equities research analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current year.
Sysco Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend is Friday, April 4th. Sysco's dividend payout ratio (DPR) is presently 52.44%.
About Sysco
(
Free Report)
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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