Renaissance Technologies LLC Lowers Stock Holdings in Sysco Co. (NYSE:SYY)

Renaissance Technologies LLC reduced its position in Sysco Co. (NYSE:SYY) by 48.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 475,200 shares of the company’s stock after selling 442,600 shares during the quarter. Renaissance Technologies LLC owned about 0.10% of Sysco worth $36,334,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Stonebridge Financial Group LLC purchased a new stake in shares of Sysco in the 4th quarter valued at about $31,000. Flagship Wealth Advisors LLC bought a new position in shares of Sysco in the fourth quarter worth approximately $31,000. Sherman Asset Management Inc. purchased a new stake in Sysco in the fourth quarter valued at approximately $31,000. SRS Capital Advisors Inc. lifted its position in Sysco by 53.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after purchasing an additional 149 shares during the last quarter. Finally, HHM Wealth Advisors LLC grew its stake in Sysco by 107.4% in 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 in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. UBS Group lowered their price target on Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Melius Research raised Sysco to a “hold” rating in a report on Wednesday, December 18th. Guggenheim restated a “buy” rating and issued a $85.00 target price on shares of Sysco in a research report on Wednesday, January 29th. Barclays reduced their price target on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Finally, Melius began coverage on shares of Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price objective for the company. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Sysco presently has an average rating of “Moderate Buy” and an average price target of $84.77.

Sysco Price Performance

Shares of NYSE SYY opened at $70.39 on Friday. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. Sysco Co. has a 1 year low of $67.12 and a 1 year high of $82.23. The company’s 50-day moving average is $72.61 and its 200 day moving average is $74.76. The stock has a market capitalization of $34.44 billion, a P/E ratio of 18.09, a P/E/G ratio of 1.88 and a beta of 0.91.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting 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 company posted $0.89 earnings per share. On average, sell-side analysts expect that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s dividend payout ratio is presently 52.44%.

Sysco Company Profile

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.