Xponance Inc. Cuts Stock Position in Sysco Co. (NYSE:SYY)

Xponance Inc. cut its holdings in Sysco Co. (NYSE:SYY) by 28.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 114,541 shares of the company’s stock after selling 45,747 shares during the quarter. Xponance Inc.’s holdings in Sysco were worth $8,758,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SYY. Stonebridge Financial Group LLC purchased a new stake in shares of Sysco in the fourth quarter valued at approximately $31,000. Sherman Asset Management Inc. purchased a new stake in shares of Sysco during the fourth quarter worth approximately $31,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Sysco during the fourth quarter worth approximately $31,000. SRS Capital Advisors Inc. increased its position in shares of Sysco by 53.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after purchasing an additional 149 shares in the last quarter. Finally, HHM Wealth Advisors LLC increased its position in shares of Sysco by 107.4% during the fourth quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock worth $47,000 after purchasing an additional 321 shares in the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Stock Performance

Shares of Sysco stock opened at $74.25 on Wednesday. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.33. The business’s fifty day simple moving average is $73.27 and its 200-day simple moving average is $75.46. The firm has a market cap of $36.33 billion, a PE ratio of 19.09, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. 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 announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 EPS 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 last year, the firm posted $0.89 EPS. Equities analysts forecast that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be issued a $0.51 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.75%. Sysco’s dividend payout ratio is presently 52.44%.

Analysts Set New Price Targets

SYY has been the subject of several research reports. Melius initiated coverage on Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price target for the company. Wells Fargo & Company boosted their price target on Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. UBS Group dropped their price target on Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Guggenheim reiterated a “buy” rating and set a $85.00 price target on shares of Sysco in a research report on Wednesday, January 29th. Finally, Melius Research raised Sysco to a “hold” rating in a research note on Wednesday, December 18th. 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 company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $84.77.

Insider Activity at Sysco

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

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.