Swedbank AB Has $123.17 Million Holdings in Sysco Co. (NYSE:SYY)

Swedbank AB decreased its stake in Sysco Co. (NYSE:SYY) by 19.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,610,941 shares of the company’s stock after selling 398,079 shares during the period. Swedbank AB owned approximately 0.33% of Sysco worth $123,173,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Public Sector Pension Investment Board raised its position in Sysco by 87.2% in the 2nd quarter. Public Sector Pension Investment Board now owns 19,187 shares of the company’s stock valued at $1,370,000 after purchasing an additional 8,940 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Sysco by 58.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 63,387 shares of the company’s stock valued at $4,525,000 after buying an additional 23,321 shares in the last quarter. Quarry LP boosted its stake in Sysco by 260.7% in the 2nd quarter. Quarry LP now owns 1,248 shares of the company’s stock worth $89,000 after purchasing an additional 902 shares during the period. Regal Investment Advisors LLC boosted its position in Sysco by 19.0% during the 2nd quarter. Regal Investment Advisors LLC now owns 20,674 shares of the company’s stock worth $1,476,000 after acquiring an additional 3,300 shares during the last quarter. Finally, EP Wealth Advisors LLC boosted its position in Sysco by 18.8% during the second quarter. EP Wealth Advisors LLC now owns 9,926 shares of the company’s stock valued at $709,000 after purchasing an additional 1,570 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Insider Buying and Selling

In related news, Director Sheila Talton sold 2,900 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the transaction, the director now directly owns 12,955 shares in the company, valued at approximately $966,831.65. This represents a 18.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Eve M. Mcfadden sold 4,036 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the completion of the transaction, the senior vice president now directly owns 48,451 shares in the company, valued at $3,638,670.10. The trade was a 7.69 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 83,306 shares of company stock valued at $6,485,050. Company insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

SYY has been the subject of a number of research analyst reports. Jefferies Financial Group lifted their price target on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Wells Fargo & Company dropped their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Morgan Stanley lowered their price objective on Sysco from $82.00 to $79.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st. Barclays reduced their price objective on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday. Four analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.36.

Sysco Stock Performance

Sysco stock traded up $0.07 during mid-day trading on Wednesday, reaching $72.35. 551,587 shares of the company’s stock were exchanged, compared to its average volume of 3,027,591. The firm has a market capitalization of $35.54 billion, a PE ratio of 18.56, a P/E/G ratio of 2.04 and a beta of 1.18. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. The business’s fifty day simple moving average is $76.43 and its 200 day simple moving average is $76.03. Sysco Co. has a one year low of $69.03 and a one year high of $82.89.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. Sysco had a return on equity of 101.04% and a net margin of 2.44%. During the same period last year, the firm earned $0.89 EPS. On average, sell-side analysts expect that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, January 3rd were paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend was Friday, January 3rd. Sysco’s payout ratio is currently 52.44%.

Sysco 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.