Vanguard Group Inc. Acquires 429,711 Shares of Sysco Co. (NYSE:SYY)

Vanguard Group Inc. increased its position in Sysco Co. (NYSE:SYY - Free Report) by 0.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 61,519,424 shares of the company's stock after purchasing an additional 429,711 shares during the quarter. Vanguard Group Inc. owned approximately 12.57% of Sysco worth $4,703,775,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of SYY. Stonebridge Financial Group LLC acquired a new stake in shares of Sysco during the 4th quarter valued at about $31,000. Flagship Wealth Advisors LLC bought a new stake in shares of Sysco in the 4th quarter valued at approximately $31,000. Sherman Asset Management Inc. bought a new stake in shares of Sysco in the 4th quarter valued at approximately $31,000. SRS Capital Advisors Inc. lifted its position in shares of Sysco by 53.0% during the 4th 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 period. Finally, HHM Wealth Advisors LLC boosted its stake in Sysco by 107.4% in 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 in the last quarter. Institutional investors and hedge funds own 83.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. UBS Group decreased their price objective on shares of Sysco from $87.00 to $86.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Guggenheim reaffirmed a "buy" rating and set a $85.00 price target on shares of Sysco in a report on Wednesday, January 29th. Barclays reduced their price objective on Sysco from $93.00 to $85.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 29th. Wells Fargo & Company raised their target price on Sysco from $82.00 to $87.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Finally, Melius assumed coverage on shares of Sysco in a research report on Wednesday, December 18th. They set a "hold" rating and a $85.00 price target on the stock. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Sysco currently has a consensus rating of "Moderate Buy" and a consensus target price of $84.77.

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Insider Activity at Sysco

In related news, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction dated 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 sale, the executive vice president now owns 56,304 shares of the company's stock, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.54% of the stock is owned by insiders.

Sysco Stock Down 1.5 %

Shares of NYSE:SYY traded down $1.05 during trading on Tuesday, hitting $70.38. 3,403,212 shares of the company's stock traded hands, compared to its average volume of 3,137,175. The company has a 50-day moving average price of $73.05 and a 200-day moving average price of $75.26. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.33. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The company has a market cap of $34.43 billion, a price-to-earnings ratio of 18.09, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings data 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 in the prior year, the business earned $0.89 earnings per share. As a group, research analysts forecast that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be issued a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.90%. Sysco's payout ratio is presently 52.44%.

About Sysco

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.