Sei Investments Co. Sells 175,316 Shares of Sysco Co. (NYSE:SYY)

Sei Investments Co. lowered its position in Sysco Co. (NYSE:SYY - Free Report) by 39.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 272,651 shares of the company's stock after selling 175,316 shares during the quarter. Sei Investments Co. owned 0.06% of Sysco worth $20,847,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Mizuho Securities USA LLC grew its stake in shares of Sysco by 46.0% in the fourth quarter. Mizuho Securities USA LLC now owns 46,557 shares of the company's stock worth $3,560,000 after purchasing an additional 14,669 shares during the last quarter. TD Private Client Wealth LLC grew its position in shares of Sysco by 94.2% in the 4th quarter. TD Private Client Wealth LLC now owns 15,462 shares of the company's stock valued at $1,182,000 after buying an additional 7,502 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Sysco by 10.5% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 3,981 shares of the company's stock valued at $304,000 after buying an additional 379 shares during the period. Berkeley Capital Partners LLC bought a new position in shares of Sysco during the fourth quarter worth about $1,321,000. Finally, iA Global Asset Management Inc. raised its position in shares of Sysco by 77.3% during the fourth quarter. iA Global Asset Management Inc. now owns 43,680 shares of the company's stock worth $3,340,000 after acquiring an additional 19,050 shares during the last quarter. Institutional investors own 83.41% of the company's stock.

Remove Ads

Analyst Ratings Changes

Several analysts recently commented on the company. Wells Fargo & Company upped their target price on Sysco from $82.00 to $87.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Guggenheim restated a "buy" rating and issued a $85.00 target price on shares of Sysco in a report on Wednesday, January 29th. StockNews.com downgraded Sysco from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 20th. Morgan Stanley lowered their price objective on Sysco from $79.00 to $77.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 29th. Finally, Jefferies Financial Group upped their target price on Sysco from $91.00 to $95.00 and gave the company a "buy" rating in a research report on Monday, December 16th. Four 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 currently has an average rating of "Moderate Buy" and an average price target of $84.77.

Insider Activity at Sysco

In other news, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the sale, the executive vice president now directly owns 56,304 shares of the company's stock, valued at $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.54% of the stock is owned by insiders.

Sysco Stock Up 0.1 %

Sysco stock traded up $0.06 during mid-day trading on Friday, reaching $74.10. The stock had a trading volume of 2,140,455 shares, compared to its average volume of 3,277,624. The firm has a market capitalization of $36.25 billion, a PE ratio of 19.05, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.23. The stock's 50-day simple moving average is $72.99 and its 200-day simple moving average is $75.12. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20.

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, 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 in the prior year, the company posted $0.89 earnings per share. On average, sell-side analysts forecast that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.75%. Sysco's dividend payout ratio is presently 52.44%.

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.