DnB Asset Management AS Purchases 2,673 Shares of Sysco Co. (NYSE:SYY)

DnB Asset Management AS increased its holdings in shares of Sysco Co. (NYSE:SYY) by 3.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 85,734 shares of the company’s stock after purchasing an additional 2,673 shares during the period. DnB Asset Management AS’s holdings in Sysco were worth $6,555,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Stonebridge Financial Group LLC acquired a new position in shares of Sysco during the 4th quarter worth approximately $31,000. Sherman Asset Management Inc. acquired a new position in shares of Sysco in the fourth quarter valued at $31,000. Flagship Wealth Advisors LLC bought a new position in shares of Sysco in the fourth quarter valued at about $31,000. SRS Capital Advisors Inc. lifted its stake 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 buying an additional 149 shares during the last quarter. Finally, HHM Wealth Advisors LLC boosted its holdings in shares of Sysco by 107.4% during the 4th quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock worth $47,000 after buying an additional 321 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Performance

NYSE SYY opened at $74.10 on Monday. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.23. The firm has a market capitalization of $36.25 billion, a price-to-earnings ratio of 19.05, a P/E/G ratio of 1.88 and a beta of 1.11. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The firm’s 50 day simple moving average is $72.99 and its 200 day simple moving average is $75.12.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting 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 period last year, the business posted $0.89 EPS. As a group, research analysts expect that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business also recently declared 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. The ex-dividend date is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.75%. Sysco’s payout ratio is currently 52.44%.

Insider Activity at Sysco

In other Sysco 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 sale, the executive vice president now owns 56,304 shares in the company, valued at $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.54% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have issued reports on SYY. Melius assumed coverage on shares of Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price objective for the company. Barclays dropped their price target on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. Melius Research raised shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. Finally, Wells Fargo & Company raised their price target on shares of Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $84.77.

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.