Sysco Co. (NYSE:SYY) Stake Lessened by KBC Group NV

KBC Group NV decreased its position in shares of Sysco Co. (NYSE:SYY) by 3.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 87,144 shares of the company’s stock after selling 3,265 shares during the quarter. KBC Group NV’s holdings in Sysco were worth $6,663,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SYY. National Pension Service raised its stake in shares of Sysco by 15.6% in the 3rd quarter. National Pension Service now owns 1,237,017 shares of the company’s stock worth $96,562,000 after buying an additional 166,798 shares in the last quarter. New England Asset Management Inc. grew its holdings in Sysco by 12.7% during the third quarter. New England Asset Management Inc. now owns 131,360 shares of the company’s stock worth $10,254,000 after acquiring an additional 14,810 shares during the period. Empowered Funds LLC raised its position in Sysco by 29.0% in the third quarter. Empowered Funds LLC now owns 78,333 shares of the company’s stock worth $6,115,000 after acquiring an additional 17,587 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in Sysco by 11.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock valued at $521,874,000 after acquiring an additional 672,940 shares during the last quarter. Finally, Captrust Financial Advisors boosted its position in shares of Sysco by 7.7% during the 3rd quarter. Captrust Financial Advisors now owns 124,341 shares of the company’s stock valued at $9,706,000 after purchasing an additional 8,891 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Stock Performance

Shares of SYY opened at $73.33 on Friday. The company has a market capitalization of $36.02 billion, a PE ratio of 18.85, a PEG ratio of 2.04 and a beta of 1.18. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. The company’s 50 day moving average price is $76.40 and its 200 day moving average price is $76.00. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.89.

Sysco (NYSE:SYY) last posted 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 net margin of 2.44% and a return on equity of 101.04%. During the same quarter in the previous year, the company posted $0.89 EPS. Research analysts expect that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 3rd were issued a dividend of $0.51 per share. The ex-dividend date was Friday, January 3rd. This represents a $2.04 annualized dividend and a dividend yield of 2.78%. Sysco’s dividend payout ratio is 52.44%.

Insider Activity at Sysco

In other Sysco news, SVP Eve M. Mcfadden sold 6,499 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $519,920.00. Following the completion of the sale, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,876,080. The trade was a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Sheila Talton sold 2,900 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total transaction of $216,427.00. Following the transaction, the director now owns 12,955 shares in the company, valued at $966,831.65. This represents a 18.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,270 shares of company stock valued at $6,181,946. 0.54% of the stock is owned by corporate insiders.

Analyst Ratings Changes

SYY has been the topic of a number of research reports. Melius initiated coverage on shares of Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 target price on the stock. Morgan Stanley dropped their price target on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday. Guggenheim reissued a “buy” rating and set a $85.00 price objective on shares of Sysco in a research note on Wednesday. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday. Finally, Jefferies Financial Group increased their price target on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $85.21.

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.