Sysco Co. (NYSE:SYY) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lowered its holdings in Sysco Co. (NYSE:SYY) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,247,399 shares of the company’s stock after selling 24,017 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.25% of Sysco worth $91,222,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. AdvisorNet Financial Inc increased its stake in shares of Sysco by 74.0% in the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock worth $27,000 after acquiring an additional 159 shares during the period. Hexagon Capital Partners LLC increased its stake in shares of Sysco by 74.6% in the third quarter. Hexagon Capital Partners LLC now owns 419 shares of the company’s stock worth $28,000 after acquiring an additional 179 shares during the period. Sunbelt Securities Inc. acquired a new stake in shares of Sysco in the first quarter worth $32,000. Tyler Stone Wealth Management acquired a new stake in Sysco during the second quarter valued at $37,000. Finally, BluePath Capital Management LLC acquired a new stake in Sysco during the third quarter valued at $38,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Performance

SYY opened at $75.84 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 1.37 and a debt-to-equity ratio of 5.00. The company has a market cap of $37.76 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 1.54 and a beta of 1.15. Sysco Co. has a 52-week low of $62.24 and a 52-week high of $82.89. The firm’s fifty day simple moving average is $79.60 and its two-hundred day simple moving average is $74.22.

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

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 5th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend is Thursday, April 4th. Sysco’s dividend payout ratio is currently 48.90%.

Insider Transactions at Sysco

In other news, CAO Neil Russell sold 1,722 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total value of $137,760.00. Following the transaction, the chief accounting officer now directly owns 24,082 shares of the company’s stock, valued at $1,926,560. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on SYY shares. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. Barclays raised their price target on shares of Sysco from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. Stephens raised their price target on shares of Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. JPMorgan Chase & Co. raised their price target on shares of Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Finally, BMO Capital Markets raised their price target on shares of Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.38.

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.