Sysco Co. (NYSE:SYY) Shares Sold by Mission Wealth Management LP

Mission Wealth Management LP trimmed its holdings in Sysco Co. (NYSE:SYY) by 4.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,226 shares of the company’s stock after selling 420 shares during the period. Mission Wealth Management LP’s holdings in Sysco were worth $629,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. State Street Corp raised its position in shares of Sysco by 11.1% in the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after buying an additional 2,721,449 shares during the last quarter. Diamond Hill Capital Management Inc. raised its position in shares of Sysco by 11.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock valued at $521,874,000 after buying an additional 672,940 shares during the last quarter. Primecap Management Co. CA raised its position in shares of Sysco by 9.7% in the third quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company’s stock valued at $374,410,000 after buying an additional 422,954 shares during the last quarter. Montrusco Bolton Investments Inc. raised its position in shares of Sysco by 8.5% in the third quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company’s stock valued at $366,789,000 after buying an additional 375,409 shares during the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of Sysco by 4.1% in the third quarter. Janus Henderson Group PLC now owns 4,265,723 shares of the company’s stock valued at $332,983,000 after buying an additional 168,163 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SYY has been the subject of a number of recent research reports. Wells Fargo & Company increased their target price on shares of Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Guggenheim reissued a “buy” rating and issued a $85.00 price objective on shares of Sysco in a report on Wednesday, January 29th. JPMorgan Chase & Co. dropped their price objective on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. UBS Group dropped their price objective on shares of Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Finally, StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $84.77.

Insider Activity

In other news, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the transaction, the executive vice president now owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This trade 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 the SEC website. Insiders own 0.54% of the company’s stock.

Sysco Trading Down 1.0 %

Shares of SYY stock opened at $74.90 on Wednesday. The company has a 50-day moving average of $73.58 and a two-hundred day moving average of $75.63. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.33. The firm has a market cap of $36.64 billion, a PE ratio of 19.25, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17.

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

Sysco Announces Dividend

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

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.