Sysco Co. (NYSE:SYY) Shares Sold by KBC Group NV

KBC Group NV decreased its holdings in shares of Sysco Co. (NYSE:SYY) by 3.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 87,144 shares of the company’s stock after selling 3,265 shares during the quarter. KBC Group NV’s holdings in Sysco were worth $6,663,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Armstrong Advisory Group Inc. raised its stake in Sysco by 1,240.0% during the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after purchasing an additional 310 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of Sysco in the 3rd quarter worth $26,000. Valley Wealth Managers Inc. acquired a new position in Sysco in the third quarter valued at $31,000. Focused Wealth Management Inc purchased a new stake in Sysco during the third quarter valued at about $37,000. Finally, Canoe Financial LP acquired a new stake in Sysco during the third quarter worth about $38,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Activity at Sysco

In related news, Director Sheila Talton sold 2,900 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total transaction of $216,427.00. Following the completion of the sale, the director now owns 12,955 shares of the company’s stock, valued at $966,831.65. This represents a 18.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Eve M. Mcfadden sold 6,499 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $519,920.00. Following the completion of the transaction, the senior vice president now directly owns 48,451 shares in the company, valued at $3,876,080. This represents a 11.83 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 79,270 shares of company stock valued at $6,181,946. Corporate insiders own 0.54% of the company’s stock.

Sysco Stock Performance

Sysco stock opened at $73.33 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. The stock has a 50 day moving average of $76.40 and a 200-day moving average of $76.00. The stock has a market cap of $36.02 billion, a P/E ratio of 18.85, a price-to-earnings-growth ratio of 2.04 and a beta of 1.18. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.89.

Sysco (NYSE:SYY) last issued its quarterly 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 2.44% and a return on equity of 101.04%. During the same quarter in the previous year, the business earned $0.89 EPS. On average, analysts expect that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, January 3rd were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.78%. The ex-dividend date was Friday, January 3rd. Sysco’s dividend payout ratio is currently 52.44%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SYY shares. UBS Group reduced their price objective on Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday. Morgan Stanley decreased their price objective on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday. Barclays cut their target price on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday. Guggenheim reaffirmed a “buy” rating and set a $85.00 price target on shares of Sysco in a research report on Wednesday. Finally, Melius initiated coverage on Sysco in a research report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $85.21.

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.