Sysco Co. (NYSE:SYY) Position Cut by NewEdge Advisors LLC

NewEdge Advisors LLC lowered its position in shares of Sysco Co. (NYSE:SYY - Free Report) by 41.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 23,040 shares of the company's stock after selling 16,472 shares during the period. NewEdge Advisors LLC's holdings in Sysco were worth $1,762,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of SYY. Morse Asset Management Inc bought a new stake in shares of Sysco during the third quarter valued at approximately $390,000. Barclays PLC raised its stake in Sysco by 43.2% during the 3rd quarter. Barclays PLC now owns 1,715,356 shares of the company's stock valued at $133,902,000 after acquiring an additional 517,219 shares in the last quarter. SkyView Investment Advisors LLC boosted its position in Sysco by 5.5% during the 3rd quarter. SkyView Investment Advisors LLC now owns 8,509 shares of the company's stock worth $664,000 after acquiring an additional 445 shares during the period. World Investment Advisors LLC bought a new position in shares of Sysco in the third quarter worth $610,000. Finally, Wilmington Savings Fund Society FSB increased its holdings in shares of Sysco by 13.5% during the third quarter. Wilmington Savings Fund Society FSB now owns 209,456 shares of the company's stock valued at $16,350,000 after purchasing an additional 24,866 shares during the period. Institutional investors and hedge funds own 83.41% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Sysco from $82.00 to $87.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Barclays upped their price target on shares of Sysco from $85.00 to $87.00 and gave the stock an "overweight" rating in a research note on Tuesday. Guggenheim reiterated a "buy" rating and set a $85.00 price objective on shares of Sysco in a research note on Wednesday, January 29th. JPMorgan Chase & Co. cut their target price on Sysco from $86.00 to $82.00 and set an "overweight" rating for the company in a research report on Tuesday, February 4th. Finally, UBS Group decreased their price target on Sysco from $87.00 to $86.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Sysco presently has an average rating of "Moderate Buy" and a consensus price target of $84.92.

Sysco Trading Up 2.5 %

NYSE:SYY opened at $73.25 on Wednesday. The stock has a fifty day simple moving average of $72.72 and a 200 day simple moving average of $74.49. The firm has a market capitalization of $35.84 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 1.88 and a beta of 0.91. Sysco Co. has a 1-year low of $67.12 and a 1-year high of $82.23. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY - Get Free Report) last announced its earnings results on Tuesday, January 28th. The company reported $0.93 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 period in the previous year, the business earned $0.89 earnings per share. Sell-side analysts forecast that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The firm 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 $0.51 dividend. 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 2.78%. Sysco's payout ratio is currently 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.

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