Tucker Asset Management LLC Decreases Stock Holdings in Sysco Co. (NYSE:SYY)

Tucker Asset Management LLC lowered its position in Sysco Co. (NYSE:SYY) by 21.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,398 shares of the company’s stock after selling 658 shares during the period. Tucker Asset Management LLC’s holdings in Sysco were worth $183,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Allstate Corp purchased a new position in Sysco during the 4th quarter worth approximately $1,124,000. Heartland Advisors Inc. purchased a new position in shares of Sysco during the 4th quarter valued at about $14,827,000. DnB Asset Management AS grew its holdings in Sysco by 3.2% in the fourth quarter. DnB Asset Management AS now owns 85,734 shares of the company’s stock valued at $6,555,000 after purchasing an additional 2,673 shares during the period. Orion Portfolio Solutions LLC increased its position in shares of Sysco by 16.2% in the fourth quarter. Orion Portfolio Solutions LLC now owns 49,357 shares of the company’s stock valued at $3,774,000 after buying an additional 6,868 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of Sysco by 5.9% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 757,585 shares of the company’s stock valued at $57,925,000 after buying an additional 42,207 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Insider Buying and Selling at Sysco

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 transaction of $3,698,079.00. Following the completion of the transaction, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at $4,335,408. This trade represents a 46.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.54% of the stock is currently owned by insiders.

Analyst Ratings Changes

SYY has been the topic of several research analyst reports. Wells Fargo & Company lifted their price objective on Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Truist Financial reduced their price target on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Melius Research raised shares of Sysco to a “hold” rating in a research note on Wednesday, December 18th. Morgan Stanley reduced their price target on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Finally, Melius initiated coverage on shares of Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $84.77.

Sysco Stock Up 0.1 %

Shares of NYSE SYY opened at $74.10 on Friday. The stock has a market capitalization of $36.25 billion, a price-to-earnings ratio of 19.05, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.23. The firm has a 50-day moving average price of $72.99 and a 200 day moving average price of $75.15. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share 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 in the prior year, the company posted $0.89 earnings per share. Equities research analysts anticipate that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors 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 yield of 2.75%. 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.