Sysco Co. (NYSE:SYY) Shares Sold by Ziegler Capital Management LLC

Ziegler Capital Management LLC cut its position in Sysco Co. (NYSE:SYYFree Report) by 11.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 22,045 shares of the company’s stock after selling 2,722 shares during the period. Ziegler Capital Management LLC’s holdings in Sysco were worth $1,612,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Vontobel Holding Ltd. boosted its holdings in Sysco by 166.0% in the first quarter. Vontobel Holding Ltd. now owns 16,127 shares of the company’s stock valued at $1,338,000 after purchasing an additional 10,065 shares during the period. Sei Investments Co. boosted its holdings in Sysco by 6.9% in the first quarter. Sei Investments Co. now owns 258,746 shares of the company’s stock valued at $21,068,000 after purchasing an additional 16,772 shares during the period. Cetera Investment Advisers boosted its holdings in Sysco by 12.9% in the first quarter. Cetera Investment Advisers now owns 22,139 shares of the company’s stock valued at $1,808,000 after purchasing an additional 2,522 shares during the period. Baird Financial Group Inc. boosted its holdings in Sysco by 1.0% in the first quarter. Baird Financial Group Inc. now owns 659,712 shares of the company’s stock valued at $53,865,000 after purchasing an additional 6,711 shares during the period. Finally, Parkside Financial Bank & Trust boosted its holdings in Sysco by 54.8% in the first quarter. Parkside Financial Bank & Trust now owns 833 shares of the company’s stock valued at $68,000 after purchasing an additional 295 shares during the period. 80.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SYY shares. JPMorgan Chase & Co. lifted their target price on Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday. Barclays lifted their price target on Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. BMO Capital Markets lifted their price target on Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 1st. Finally, Stephens lifted their price target on Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $85.38.

Read Our Latest Report on SYY

Insider Activity

In other news, CAO Neil Russell sold 1,722 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total value of $137,760.00. Following the completion of the sale, the chief accounting officer now directly owns 24,082 shares of the company’s stock, valued at approximately $1,926,560. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.58% of the company’s stock.

Sysco Stock Down 0.2 %

Sysco stock opened at $81.18 on Thursday. Sysco Co. has a fifty-two week low of $62.24 and a fifty-two week high of $82.89. The company has a debt-to-equity ratio of 5.00, a quick ratio of 0.80 and a current ratio of 1.37. The company has a market capitalization of $40.41 billion, a P/E ratio of 19.85, a PEG ratio of 1.66 and a beta of 1.16. The stock has a 50-day simple moving average of $78.83 and a 200-day simple moving average of $72.83.

Sysco (NYSE:SYYGet Free Report) last posted its earnings results on Tuesday, January 30th. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.01. Sysco had a return on equity of 105.22% and a net margin of 2.69%. The business had revenue of $19.29 billion during the quarter, compared to the consensus estimate of $19.32 billion. During the same period in the previous year, the business earned $0.80 EPS. The business’s quarterly revenue was up 3.7% on a year-over-year basis. Equities research analysts expect that Sysco Co. will post 4.3 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 5th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Thursday, April 4th. Sysco’s payout ratio is currently 48.90%.

Sysco Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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