Sysco Co. (NYSE:SYY) Stock Position Trimmed by Renaissance Technologies LLC

Renaissance Technologies LLC lessened its stake in shares of Sysco Co. (NYSE:SYY - Free Report) by 48.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 475,200 shares of the company's stock after selling 442,600 shares during the quarter. Renaissance Technologies LLC owned approximately 0.10% of Sysco worth $36,334,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in SYY. Stonebridge Financial Group LLC acquired a new position in shares of Sysco in the fourth quarter valued at approximately $31,000. Sherman Asset Management Inc. purchased a new position in shares of Sysco during the 4th quarter worth about $31,000. Flagship Wealth Advisors LLC purchased a new stake in Sysco in the fourth quarter valued at approximately $31,000. SRS Capital Advisors Inc. grew its stake 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 buying an additional 149 shares in the last quarter. Finally, HHM Wealth Advisors LLC raised its holdings in shares of Sysco by 107.4% during the 4th quarter. HHM Wealth Advisors LLC now owns 620 shares of the company's stock valued at $47,000 after buying an additional 321 shares during the period. Institutional investors and hedge funds own 83.41% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on SYY. Melius Research upgraded shares of Sysco to a "hold" rating in a research note on Wednesday, December 18th. Guggenheim restated a "buy" rating and set a $85.00 target price on shares of Sysco in a research note on Wednesday, January 29th. Wells Fargo & Company boosted 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. Jefferies Financial Group raised their price objective on Sysco from $91.00 to $95.00 and gave the company a "buy" rating in a research note on Monday, December 16th. Finally, StockNews.com lowered Sysco from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $84.77.

Remove Ads

Sysco Stock Performance

SYY traded down $0.57 during trading hours on Tuesday, hitting $71.27. 2,322,655 shares of the stock were exchanged, compared to its average volume of 3,323,826. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. Sysco Co. has a 12 month low of $67.12 and a 12 month high of $82.23. The stock has a 50-day simple moving average of $72.62 and a 200-day simple moving average of $74.70. The stock has a market cap of $34.87 billion, a price-to-earnings ratio of 18.32, a price-to-earnings-growth ratio of 1.88 and a beta of 0.91.

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, 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 period last year, the firm posted $0.89 earnings per share. Analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

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 $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend is Friday, April 4th. Sysco's dividend payout ratio (DPR) is 52.44%.

Sysco 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.