Envestnet Asset Management Inc. Lowers Stock Holdings in Sysco Co. (NYSE:SYY)

Envestnet Asset Management Inc. cut its stake in shares of Sysco Co. (NYSE:SYY) by 25.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,486,790 shares of the company’s stock after selling 496,540 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.30% of Sysco worth $113,680,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Stonebridge Financial Group LLC purchased a new position in Sysco during the 4th quarter worth $31,000. Flagship Wealth Advisors LLC purchased a new position in shares of Sysco during the fourth quarter valued at $31,000. Sherman Asset Management Inc. bought a new stake in shares of Sysco in the fourth quarter valued at about $31,000. SRS Capital Advisors Inc. lifted its stake in Sysco by 53.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after acquiring an additional 149 shares during the period. Finally, HHM Wealth Advisors LLC grew its holdings in Sysco by 107.4% during the 4th quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock worth $47,000 after acquiring an additional 321 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Down 2.9 %

SYY stock opened at $69.40 on Tuesday. 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 Co. has a 52 week low of $68.65 and a 52 week high of $82.23. The stock has a market capitalization of $33.95 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 1.88 and a beta of 0.91. The firm has a 50 day moving average of $72.92 and a 200 day moving average of $75.01.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting 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 last year, the firm earned $0.89 EPS. Sell-side analysts forecast that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be given a $0.51 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.94%. Sysco’s dividend payout ratio is currently 52.44%.

Wall Street Analyst Weigh In

Several research firms have recently commented on SYY. Barclays reduced their price target on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Melius began coverage on Sysco in a report on Wednesday, December 18th. They set a “hold” rating and a $85.00 target price for the company. JPMorgan Chase & Co. cut their price target on Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 20th. Finally, Morgan Stanley cut their target price on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and an average target price of $84.77.

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.