Delta Asset Management LLC TN Sells 8,022 Shares of Sysco Co. (NYSE:SYY)

Delta Asset Management LLC TN cut its holdings in shares of Sysco Co. (NYSE:SYY - Free Report) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 414,469 shares of the company's stock after selling 8,022 shares during the period. Sysco makes up 2.8% of Delta Asset Management LLC TN's portfolio, making the stock its 11th biggest position. Delta Asset Management LLC TN owned about 0.08% of Sysco worth $31,690,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Stonebridge Financial Group LLC purchased a new stake in Sysco during the 4th quarter valued at $31,000. Sherman Asset Management Inc. purchased a new stake in Sysco during the fourth quarter valued at $31,000. Flagship Wealth Advisors LLC bought a new position in Sysco in the fourth quarter valued at about $31,000. SRS Capital Advisors Inc. boosted its position in Sysco by 53.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock worth $33,000 after purchasing an additional 149 shares during the last quarter. Finally, HHM Wealth Advisors LLC grew its stake in shares of Sysco by 107.4% during the 4th quarter. HHM Wealth Advisors LLC now owns 620 shares of the company's stock valued at $47,000 after purchasing an additional 321 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SYY. Guggenheim reissued a "buy" rating and set a $85.00 price objective on shares of Sysco in a research report on Wednesday, January 29th. StockNews.com lowered Sysco from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 20th. Wells Fargo & Company raised their price objective on Sysco from $82.00 to $87.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Barclays cut their price objective on Sysco from $93.00 to $85.00 and set an "overweight" rating for the company in a research note on Wednesday, January 29th. Finally, UBS Group decreased their target price 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. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Sysco has an average 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 the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the transaction, the executive vice president now owns 56,304 shares of the company's stock, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.54% of the stock is owned by insiders.

Sysco Price Performance

SYY stock traded up $0.06 during mid-day trading on Friday, hitting $74.10. The company had a trading volume of 2,140,455 shares, compared to its average volume of 3,277,624. The company has a 50-day moving average price of $72.99 and a 200 day moving average price of $75.13. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.23. The company has a market capitalization of $36.25 billion, a price-to-earnings ratio of 19.05, a P/E/G ratio of 1.88 and a beta of 1.11. 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 posted its earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting analysts' consensus estimates of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same period in the prior year, the company earned $0.89 EPS. On average, research analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend is Friday, April 4th. 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.