Caxton Associates LP Has $610,000 Stock Position in Sysco Co. (NYSE:SYY)

Caxton Associates LP trimmed its stake in Sysco Co. (NYSE:SYY) by 70.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,978 shares of the company’s stock after selling 18,837 shares during the quarter. Caxton Associates LP’s holdings in Sysco were worth $610,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SYY. Parvin Asset Management LLC bought a new position in shares of Sysco in the fourth quarter valued at $29,000. Stonebridge Financial Group LLC acquired a new stake in Sysco in the fourth quarter valued at $31,000. Sherman Asset Management Inc. bought a new position in shares of Sysco in the 4th quarter valued at about $31,000. Flagship Wealth Advisors LLC acquired a new position in shares of Sysco during the 4th quarter worth about $31,000. Finally, SRS Capital Advisors Inc. raised its holdings in shares of Sysco by 53.0% in the 4th 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 period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SYY. Sanford C. Bernstein set a $87.00 price target on Sysco and gave the stock an “overweight” rating in a research report on Tuesday, April 22nd. Truist Financial dropped their price target on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Barclays reduced their price objective on shares of Sysco from $87.00 to $77.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. Guggenheim reissued a “buy” rating and issued a $85.00 price objective on shares of Sysco in a research report on Wednesday, January 29th. Finally, UBS Group reduced their target price on shares of Sysco from $86.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.38.

Insider Buying and Selling at Sysco

In other Sysco news, Director Sheila Talton sold 356 shares of Sysco stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $70.84, for a total value of $25,219.04. Following the transaction, the director now owns 12,738 shares in the company, valued at $902,359.92. The trade was a 2.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.54% of the company’s stock.

Sysco Trading Down 0.9 %

Shares of NYSE:SYY opened at $70.00 on Wednesday. The company has a market capitalization of $33.93 billion, a P/E ratio of 17.99, a P/E/G ratio of 1.88 and a beta of 0.80. 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 business’s 50 day simple moving average is $72.42 and its 200 day simple moving average is $74.21. Sysco Co. has a 1 year low of $67.12 and a 1 year high of $82.23.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.06). The company had revenue of $19.60 billion during the quarter, compared to analyst estimates of $20.11 billion. Sysco had a net margin of 2.40% and a return on equity of 106.30%. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period last year, the firm earned $0.96 EPS. On average, research analysts anticipate that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 3.09%. This is a boost from Sysco’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Thursday, July 3rd. Sysco’s dividend payout ratio (DPR) is 55.96%.

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.