Natixis Advisors LLC cut its holdings in Sysco Co. (NYSE:SYY - Free Report) by 38.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 410,356 shares of the company's stock after selling 261,301 shares during the quarter. Natixis Advisors LLC owned about 0.08% of Sysco worth $31,376,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of SYY. State Street Corp grew its position in shares of Sysco by 11.1% in the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company's stock valued at $2,130,617,000 after purchasing an additional 2,721,449 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in Sysco in the 3rd quarter valued at approximately $137,900,000. Mondrian Investment Partners LTD bought a new stake in Sysco in the 4th quarter valued at approximately $123,928,000. Raymond James Financial Inc. bought a new stake in Sysco in the 4th quarter valued at approximately $97,078,000. Finally, Nordea Investment Management AB lifted its stake in Sysco by 52.3% in the 4th quarter. Nordea Investment Management AB now owns 2,719,478 shares of the company's stock valued at $208,666,000 after acquiring an additional 933,327 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.
Sysco Stock Performance
NYSE SYY traded down $1.27 on Thursday, reaching $71.12. The stock had a trading volume of 5,118,872 shares, compared to its average volume of 3,117,807. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The firm has a fifty day moving average of $73.22 and a two-hundred day moving average of $75.44. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.33. The company has a market cap of $34.79 billion, a P/E ratio of 18.28, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11.
Sysco (NYSE:SYY - Get Free Report) last released its 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 return on equity of 106.30% and a net margin of 2.40%. During the same quarter last year, the company posted $0.89 EPS. On average, equities research analysts anticipate that Sysco Co. will post 4.58 EPS for the current year.
Sysco Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend is Friday, April 4th. Sysco's dividend payout ratio (DPR) is currently 52.44%.
Analyst Upgrades and Downgrades
SYY has been the topic of several research reports. Wells Fargo & Company boosted 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. Jefferies Financial Group upped their price objective on Sysco from $91.00 to $95.00 and gave the stock a "buy" rating in a research note on Monday, December 16th. JPMorgan Chase & Co. dropped their price objective on Sysco from $86.00 to $82.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 4th. Barclays dropped 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. Finally, Guggenheim reiterated a "buy" rating and set a $85.00 price objective on shares of Sysco in a research note on Wednesday, January 29th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $84.77.
Get Our Latest Report on Sysco
Insider Transactions at Sysco
In related news, EVP Greg D. Bertrand sold 48,027 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the sale, the executive vice president now directly owns 56,304 shares in the company, valued at $4,335,408. This represents a 46.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.54% of the stock is currently owned by insiders.
Sysco Profile
(
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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