Sysco Co. (NYSE:SYY) Shares Sold by Berkshire Asset Management LLC PA

Berkshire Asset Management LLC PA lowered its stake in Sysco Co. (NYSE:SYY) by 11.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 25,115 shares of the company’s stock after selling 3,254 shares during the quarter. Berkshire Asset Management LLC PA’s holdings in Sysco were worth $1,878,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in Sysco in the 3rd quarter valued at $26,000. Valley Wealth Managers Inc. purchased a new position in Sysco in the 3rd quarter valued at $31,000. Stonebridge Financial Group LLC purchased a new position in Sysco in the 4th quarter valued at $31,000. Sherman Asset Management Inc. purchased a new position in shares of Sysco during the 4th quarter worth $31,000. Finally, SRS Capital Advisors Inc. raised its holdings in shares of Sysco by 53.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after acquiring an additional 149 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Performance

Shares of Sysco stock opened at $75.04 on Friday. The business has a 50-day simple moving average of $73.47 and a 200-day simple moving average of $75.62. The company has a market cap of $36.71 billion, a PE ratio of 19.29, a P/E/G ratio of 1.88 and a beta of 1.17. Sysco Co. has a one year low of $69.03 and a one year high of $82.33. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same quarter in the previous year, the business earned $0.89 earnings per share. On average, equities research analysts forecast that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s dividend payout ratio is currently 52.44%.

Insider Buying and Selling at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the sale, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.54% of the stock is owned by company insiders.

Analysts Set New Price Targets

SYY has been the subject of a number of recent analyst reports. Melius Research raised Sysco to a “hold” rating in a research report on Wednesday, December 18th. 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 report 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 report on Wednesday, January 29th. Morgan Stanley cut their price objective on Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. dropped 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. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $84.77.

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.