Sysco Co. (NYSE:SYY) Shares Sold by Bragg Financial Advisors Inc

Bragg Financial Advisors Inc lessened its position in Sysco Co. (NYSE:SYY) by 3.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,116 shares of the company’s stock after selling 324 shares during the period. Bragg Financial Advisors Inc’s holdings in Sysco were worth $773,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Morse Asset Management Inc purchased a new position in shares of Sysco during the 3rd quarter worth $390,000. Y Intercept Hong Kong Ltd acquired a new stake in Sysco in the 3rd quarter worth about $368,000. Barclays PLC grew its holdings in Sysco by 43.2% in the 3rd quarter. Barclays PLC now owns 1,715,356 shares of the company’s stock valued at $133,902,000 after buying an additional 517,219 shares during the period. SkyView Investment Advisors LLC increased its stake in shares of Sysco by 5.5% during the 3rd quarter. SkyView Investment Advisors LLC now owns 8,509 shares of the company’s stock valued at $664,000 after acquiring an additional 445 shares during the last quarter. Finally, Sanctuary Advisors LLC lifted its holdings in shares of Sysco by 1.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 89,685 shares of the company’s stock worth $6,797,000 after acquiring an additional 1,104 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SYY shares. JPMorgan Chase & Co. dropped their price target on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Guggenheim reaffirmed a “buy” rating and issued a $85.00 target price on shares of Sysco in a research report on Wednesday, January 29th. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. Jefferies Financial Group raised their price objective on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Finally, UBS Group decreased their target price on Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.77.

Sysco Stock Performance

Shares of SYY stock opened at $70.39 on Monday. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The company’s fifty day moving average price is $72.61 and its two-hundred day moving average price is $74.74. The firm 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 Co. has a 12 month low of $67.12 and a 12 month high of $82.23.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates 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 earned $0.89 earnings per share. On average, research analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.90%. The ex-dividend date is Friday, April 4th. Sysco’s dividend payout ratio is currently 52.44%.

Sysco 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.