Integrated Investment Consultants LLC Reduces Holdings in Sysco Co. (NYSE:SYY)

Integrated Investment Consultants LLC trimmed its holdings in shares of Sysco Co. (NYSE:SYY) by 20.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,082 shares of the company’s stock after selling 1,855 shares during the quarter. Integrated Investment Consultants LLC’s holdings in Sysco were worth $541,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. State Street Corp grew its position in shares of Sysco by 11.1% during the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after acquiring an additional 2,721,449 shares during the period. Ameriprise Financial Inc. lifted its position in Sysco by 26.1% during the second quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock valued at $615,076,000 after purchasing an additional 1,782,180 shares in the last quarter. Diamond Hill Capital Management Inc. grew its holdings in Sysco by 11.2% during the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock valued at $521,874,000 after purchasing an additional 672,940 shares during the period. Primecap Management Co. CA increased its position in Sysco by 9.7% in the third quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company’s stock worth $374,410,000 after buying an additional 422,954 shares in the last quarter. Finally, Montrusco Bolton Investments Inc. raised its stake in shares of Sysco by 8.5% in the third quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company’s stock worth $366,789,000 after buying an additional 375,409 shares during the period. 83.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Melius started coverage on Sysco in a research note on Wednesday, December 18th. They set a “hold” rating and a $85.00 price objective for the company. Jefferies Financial Group upped their price target on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Melius Research upgraded shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a report on Monday, January 13th. Finally, Wells Fargo & Company decreased their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $85.93.

Insider Activity at Sysco

In related news, EVP Greg D. Bertrand sold 48,027 shares of the firm’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 completion of the sale, the executive vice president now directly owns 56,304 shares in the company, valued at $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Eve M. Mcfadden sold 4,036 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $75.10, for a total transaction of $303,103.60. Following the completion of the sale, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,638,670.10. This represents a 7.69 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 83,306 shares of company stock valued at $6,485,050. Insiders own 0.54% of the company’s stock.

Sysco Price Performance

Shares of Sysco stock opened at $73.02 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.89. The stock has a 50 day moving average of $76.80 and a 200 day moving average of $75.75. The firm has a market cap of $35.87 billion, a PE ratio of 18.77, a PEG ratio of 1.93 and a beta of 1.18.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). The business had revenue of $20.48 billion during the quarter, compared to analysts’ expectations of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the business posted $1.07 earnings per share. On average, research analysts expect that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Friday, January 3rd. Sysco’s dividend payout ratio is 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.