Sysco Co. (NYSE:SYY) Stock Position Cut by Delta Asset Management LLC TN

Delta Asset Management LLC TN trimmed its holdings in Sysco Co. (NYSE:SYY) by 1.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 414,469 shares of the company’s stock after selling 8,022 shares during the quarter. Sysco accounts for about 2.8% of Delta Asset Management LLC TN’s portfolio, making the stock its 11th biggest holding. Delta Asset Management LLC TN owned 0.08% of Sysco worth $31,690,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in SYY. Stonebridge Financial Group LLC purchased a new stake in Sysco in the 4th quarter worth approximately $31,000. Sherman Asset Management Inc. acquired a new stake in Sysco during the fourth quarter valued at $31,000. Flagship Wealth Advisors LLC acquired a new position in Sysco in the 4th quarter worth about $31,000. SRS Capital Advisors Inc. lifted 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 valued at $33,000 after buying an additional 149 shares during the last quarter. Finally, HHM Wealth Advisors LLC grew its stake in shares of Sysco by 107.4% in the 4th quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock valued at $47,000 after buying an additional 321 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on SYY shares. 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 for the company. Wells Fargo & Company upped their price objective on shares of Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Guggenheim restated a “buy” rating and set a $85.00 target price on shares of Sysco in a report on Wednesday, January 29th. UBS Group reduced their target price on Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Finally, Jefferies Financial Group increased their price target on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 16th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $84.77.

Insider Buying and Selling at Sysco

In related news, EVP Greg D. Bertrand sold 48,027 shares of the company’s stock in a transaction dated 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. This represents a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.54% of the company’s stock.

Sysco Trading Up 3.3 %

Shares of Sysco stock opened at $72.74 on Thursday. 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 $35.58 billion, a PE ratio of 18.70, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The company’s fifty day moving average price is $72.95 and its two-hundred day moving average price is $75.19.

Sysco (NYSE:SYY) last posted its 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 return on equity of 106.30% and a net margin of 2.40%. During the same quarter in the prior year, the firm posted $0.89 earnings per share. On average, analysts expect that Sysco Co. will post 4.58 EPS for the current year.

Sysco Dividend Announcement

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 issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s dividend payout ratio is 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.