Sigma Planning Corp Lowers Position in Sysco Co. (NYSE:SYY)

Sigma Planning Corp decreased its position in shares of Sysco Co. (NYSE:SYY) by 41.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,403 shares of the company’s stock after selling 11,762 shares during the period. Sigma Planning Corp’s holdings in Sysco were worth $1,200,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Wealthfront Advisers LLC raised its position in Sysco by 263.4% during the third quarter. Wealthfront Advisers LLC now owns 34,007 shares of the company’s stock valued at $2,246,000 after purchasing an additional 24,650 shares in the last quarter. Professional Advisory Services Inc. purchased a new stake in Sysco during the fourth quarter valued at about $20,057,000. Harbour Trust & Investment Management Co purchased a new stake in Sysco during the fourth quarter valued at about $4,623,000. Pacer Advisors Inc. raised its position in Sysco by 40.1% during the fourth quarter. Pacer Advisors Inc. now owns 82,239 shares of the company’s stock valued at $6,014,000 after purchasing an additional 23,558 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Sysco by 16.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 298,982 shares of the company’s stock valued at $21,865,000 after purchasing an additional 41,618 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Stock Up 0.8 %

NYSE SYY opened at $77.33 on Tuesday. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.37 and a quick ratio of 0.80. The stock has a market capitalization of $38.50 billion, a PE ratio of 18.91, a PEG ratio of 1.56 and a beta of 1.15. Sysco Co. has a 1 year low of $62.24 and a 1 year high of $82.89. The business’s 50-day moving average is $79.33 and its 200 day moving average is $74.55.

Sysco (NYSE:SYY) last posted its quarterly earnings data 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. The business had revenue of $19.29 billion for the quarter, compared to analysts’ expectations of $19.32 billion. Sysco had a return on equity of 105.22% and a net margin of 2.69%. The business’s revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.80 EPS. Sell-side analysts forecast that Sysco Co. will post 4.3 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 5th will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, April 4th. This represents a $2.00 annualized dividend and a yield of 2.59%. Sysco’s payout ratio is 48.90%.

Insider Buying and Selling at Sysco

In other Sysco news, CAO Neil Russell sold 1,722 shares of Sysco stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total transaction of $137,760.00. Following 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 legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

SYY has been the topic of several analyst reports. BMO Capital Markets lifted their price objective on Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Stephens lifted their price objective on Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. JPMorgan Chase & Co. lifted their price objective on Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Barclays lifted their price objective on Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. Finally, StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 1st. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and an average target price 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.