Pictet Asset Management Holding SA lowered its position in shares of Sysco Co. (NYSE:SYY - Free Report) by 7.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,081,727 shares of the company's stock after selling 84,073 shares during the quarter. Pictet Asset Management Holding SA owned 0.22% of Sysco worth $82,709,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Stonebridge Financial Group LLC purchased a new position in Sysco during the fourth quarter worth about $31,000. Sherman Asset Management Inc. acquired a new position in Sysco during the 4th quarter worth approximately $31,000. Flagship Wealth Advisors LLC purchased a new position in shares of Sysco during the 4th quarter worth approximately $31,000. SRS Capital Advisors Inc. lifted its holdings in shares of Sysco by 53.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock valued at $33,000 after buying an additional 149 shares during the period. Finally, HHM Wealth Advisors LLC boosted its stake in shares of Sysco by 107.4% in the fourth 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.
Sysco Price Performance
Shares of NYSE SYY traded up $0.28 during trading on Thursday, reaching $75.58. The company had a trading volume of 1,328,641 shares, compared to its average volume of 3,274,523. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.23. The stock has a 50-day moving average price of $73.11 and a two-hundred day moving average price of $75.10. The stock has a market capitalization of $36.98 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11.
Sysco (NYSE:SYY - Get Free Report) last announced its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share 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 business posted $0.89 earnings per share. As a group, sell-side analysts predict 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. Investors of record on Friday, April 4th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Friday, April 4th. Sysco's dividend payout ratio (DPR) is presently 52.44%.
Analyst Ratings Changes
A number of equities research analysts have commented on SYY shares. Jefferies Financial Group raised their target price on Sysco from $91.00 to $95.00 and gave the company a "buy" rating in a report on Monday, December 16th. UBS Group reduced their price objective on shares of Sysco from $87.00 to $86.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Melius Research upgraded shares of Sysco to a "hold" rating in a research report on Wednesday, December 18th. StockNews.com downgraded shares of Sysco from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. Finally, Guggenheim reissued a "buy" rating and set a $85.00 price target on shares of Sysco 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's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $84.77.
Check Out Our Latest Stock Report on SYY
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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