SlateStone Wealth LLC Grows Stock Holdings in Sysco Co. (NYSE:SYY)

SlateStone Wealth LLC increased its holdings in shares of Sysco Co. (NYSE:SYY) by 4.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,420 shares of the company’s stock after buying an additional 400 shares during the quarter. SlateStone Wealth LLC’s holdings in Sysco were worth $797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Assetmark Inc. lifted its holdings in shares of Sysco by 18.6% in the 3rd quarter. Assetmark Inc. now owns 1,230 shares of the company’s stock valued at $96,000 after buying an additional 193 shares during the period. Oppenheimer Asset Management Inc. increased its stake in Sysco by 23.4% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 33,057 shares of the company’s stock worth $2,580,000 after buying an additional 6,267 shares in the last quarter. OneDigital Investment Advisors LLC grew its holdings in shares of Sysco by 2.7% during the third quarter. OneDigital Investment Advisors LLC now owns 21,359 shares of the company’s stock worth $1,667,000 after buying an additional 556 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Sysco by 5.5% in the third quarter. CIBC Asset Management Inc now owns 82,750 shares of the company’s stock valued at $6,459,000 after purchasing an additional 4,306 shares during the last quarter. Finally, Empowered Funds LLC boosted its position in shares of Sysco by 29.0% during the 3rd quarter. Empowered Funds LLC now owns 78,333 shares of the company’s stock valued at $6,115,000 after acquiring an additional 17,587 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Buying and Selling

In related news, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the sale, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Morgan Stanley lowered their price target on Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. UBS Group lowered their price objective on Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Guggenheim reiterated a “buy” rating and set a $85.00 price target on shares of Sysco in a research note on Wednesday, January 29th. Finally, Barclays decreased their price target on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Sysco has an average rating of “Moderate Buy” and a consensus price target of $84.77.

Sysco Price Performance

Shares of NYSE SYY opened at $73.35 on Monday. The firm’s 50-day simple moving average is $73.28 and its 200 day simple moving average is $75.51. The stock has a market cap of $35.89 billion, a P/E ratio of 18.86, a P/E/G ratio of 1.88 and a beta of 1.11. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.33. 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 issued its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter in the previous year, the business earned $0.89 earnings per share. Equities analysts expect that Sysco Co. will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 annualized dividend and a yield of 2.78%. Sysco’s dividend payout ratio (DPR) is currently 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.