Sysco Co. (NYSE:SYY) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC reduced its position in Sysco Co. (NYSE:SYY) by 1.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 301,699 shares of the company’s stock after selling 4,350 shares during the period. Commonwealth Equity Services LLC owned approximately 0.06% of Sysco worth $23,068,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. PGGM Investments increased its holdings in Sysco by 72.0% during the 4th quarter. PGGM Investments now owns 7,330 shares of the company’s stock worth $560,000 after purchasing an additional 3,069 shares during the last quarter. Achmea Investment Management B.V. increased its stake in shares of Sysco by 16.1% in the fourth quarter. Achmea Investment Management B.V. now owns 84,798 shares of the company’s stock worth $6,483,000 after buying an additional 11,747 shares during the last quarter. Essential Planning LLC. acquired a new stake in Sysco in the fourth quarter valued at $866,000. Hopwood Financial Services Inc. bought a new position in Sysco during the 4th quarter valued at $65,000. Finally, Farther Finance Advisors LLC grew its holdings in Sysco by 18.6% during the 4th quarter. Farther Finance Advisors LLC now owns 4,204 shares of the company’s stock worth $321,000 after acquiring an additional 660 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on SYY. Melius assumed coverage on shares of Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 target price on the stock. Jefferies Financial Group increased their target price on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Morgan Stanley lowered their price target on Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Melius Research upgraded Sysco to a “hold” rating in a research note on Wednesday, December 18th. Finally, Wells Fargo & Company boosted their target price on shares of Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $84.77.

Sysco Trading Up 1.0 %

Sysco stock opened at $73.35 on Monday. The firm has a 50-day moving average price of $73.28 and a two-hundred day moving average price of $75.51. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.33. The firm has a market capitalization of $35.89 billion, a price-to-earnings ratio of 18.86, a PEG 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) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) 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 prior year, the firm earned $0.89 earnings per share. Sell-side analysts expect that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Friday, April 4th. Sysco’s dividend payout ratio is currently 52.44%.

Sysco 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.