Kayne Anderson Rudnick Investment Management LLC reduced its stake in shares of Sysco Co. (NYSE:SYY - Free Report) by 8.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,714 shares of the company's stock after selling 3,871 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in Sysco were worth $3,419,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of SYY. Fortem Financial Group LLC boosted its stake in Sysco by 3.6% in the fourth quarter. Fortem Financial Group LLC now owns 3,875 shares of the company's stock valued at $296,000 after acquiring an additional 136 shares during the last quarter. MV Capital Management Inc. grew its stake in shares of Sysco by 0.4% during the fourth quarter. MV Capital Management Inc. now owns 34,330 shares of the company's stock worth $2,625,000 after purchasing an additional 144 shares during the period. Morton Community Bank increased its holdings in Sysco by 0.4% in the fourth quarter. Morton Community Bank now owns 40,585 shares of the company's stock valued at $3,103,000 after purchasing an additional 145 shares during the last quarter. Nemes Rush Group LLC lifted its stake in Sysco by 5.9% in the fourth quarter. Nemes Rush Group LLC now owns 2,631 shares of the company's stock valued at $201,000 after buying an additional 147 shares during the period. Finally, SRS Capital Advisors Inc. boosted its holdings in 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 buying an additional 149 shares during the last quarter. Institutional investors own 83.41% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on SYY. Wells Fargo & Company lifted their target price on Sysco from $82.00 to $87.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Morgan Stanley dropped their target price on shares of Sysco from $79.00 to $77.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 29th. Barclays increased their price objective on shares of Sysco from $85.00 to $87.00 and gave the stock an "overweight" rating in a research report on Tuesday. JPMorgan Chase & Co. reduced their target price on shares of Sysco from $86.00 to $82.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. Finally, Sanford C. Bernstein set a $87.00 price target on Sysco and gave the company an "overweight" rating in a report on Tuesday. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, Sysco has a consensus rating of "Moderate Buy" and an average target price of $85.07.
Get Our Latest Report on SYY
Sysco Stock Performance
Shares of NYSE:SYY traded down $1.68 on Friday, reaching $70.86. 3,719,482 shares of the company's stock were exchanged, compared to its average volume of 3,352,995. Sysco Co. has a twelve month low of $67.12 and a twelve month high of $82.23. The company has a fifty day moving average of $72.78 and a 200-day moving average of $74.47. The company has a market capitalization of $34.67 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 1.88 and a beta of 0.91. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66.
Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (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 last year, the business posted $0.89 EPS. On average, research analysts predict that Sysco Co. will post 4.58 EPS for the current fiscal year.
Sysco Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Thursday, July 3rd. This is a boost from Sysco's previous quarterly dividend of $0.51. Sysco's dividend payout ratio 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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