UBS Asset Management Americas Inc. decreased its stake in SYSCO Co. (NYSE:SYY) by 8.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,098,048 shares of the company’s stock after selling 198,268 shares during the period. UBS Asset Management Americas Inc. owned 0.40% of SYSCO worth $127,414,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. Murphy Middleton Hinkle & Parker Inc. acquired a new position in shares of SYSCO in the 4th quarter valued at $279,000. Pinebridge Investments L.P. boosted its stake in SYSCO by 18.9% during the 4th quarter. Pinebridge Investments L.P. now owns 47,956 shares of the company’s stock worth $2,913,000 after purchasing an additional 7,628 shares during the period. MUFG Americas Holdings Corp boosted its stake in SYSCO by 43.8% during the 4th quarter. MUFG Americas Holdings Corp now owns 12,110 shares of the company’s stock worth $736,000 after purchasing an additional 3,690 shares during the period. Global Financial Private Capital LLC boosted its stake in SYSCO by 16.4% during the 4th quarter. Global Financial Private Capital LLC now owns 47,631 shares of the company’s stock worth $2,893,000 after purchasing an additional 6,698 shares during the period. Finally, Toronto Dominion Bank boosted its stake in SYSCO by 12.2% during the 4th quarter. Toronto Dominion Bank now owns 208,272 shares of the company’s stock worth $12,648,000 after purchasing an additional 22,613 shares during the period. Institutional investors and hedge funds own 79.05% of the company’s stock.
SYSCO Co. (NYSE SYY) traded down $0.82 during mid-day trading on Wednesday, hitting $59.88. 6,080,000 shares of the stock traded hands, compared to its average volume of 2,690,000. SYSCO Co. has a one year low of $48.85 and a one year high of $64.27. The firm has a market cap of $31,250.00, a PE ratio of 26.03, a PEG ratio of 2.03 and a beta of 0.60. The company has a debt-to-equity ratio of 3.66, a current ratio of 1.38 and a quick ratio of 0.85.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Stockholders of record on Friday, April 6th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend is Thursday, April 5th. SYSCO’s dividend payout ratio (DPR) is presently 62.61%.
A number of brokerages recently weighed in on SYY. Loop Capital increased their price target on shares of SYSCO from $68.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Pivotal Research increased their price target on shares of SYSCO from $53.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Morgan Stanley upgraded shares of SYSCO from an “underweight” rating to an “equal weight” rating and set a $64.00 price target for the company in a research note on Tuesday, January 16th. Zacks Investment Research upgraded shares of SYSCO from a “hold” rating to a “strong-buy” rating and set a $71.00 price target for the company in a research note on Wednesday, January 10th. Finally, BMO Capital Markets set a $66.00 price target on shares of SYSCO and gave the stock a “buy” rating in a research note on Friday, December 8th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $65.20.
In other news, insider Wayne Shurts sold 15,275 shares of the stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $60.85, for a total value of $929,483.75. Following the completion of the transaction, the insider now owns 39,635 shares in the company, valued at approximately $2,411,789.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Russell T. Libby sold 13,334 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $60.69, for a total transaction of $809,240.46. Following the completion of the transaction, the insider now owns 64,394 shares of the company’s stock, valued at approximately $3,908,071.86. The disclosure for this sale can be found here. Insiders sold a total of 159,704 shares of company stock valued at $9,713,748 in the last 90 days. Company insiders own 9.60% of the company’s stock.
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Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.
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