Sysco Co. (NYSE:SYY) Stock Holdings Decreased by Primecap Management Co. CA

Primecap Management Co. CA reduced its position in Sysco Co. (NYSE:SYY) by 9.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,337,229 shares of the company’s stock after selling 459,210 shares during the period. Primecap Management Co. CA owned about 0.89% of Sysco worth $331,625,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. State Street Corp grew its position in Sysco by 11.1% during the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after purchasing an additional 2,721,449 shares in the last quarter. Diamond Hill Capital Management Inc. grew its position in Sysco by 7.8% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 7,206,978 shares of the company’s stock valued at $551,046,000 after purchasing an additional 521,431 shares in the last quarter. Montrusco Bolton Investments Inc. grew its position in Sysco by 8.5% during the third quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company’s stock valued at $366,789,000 after purchasing an additional 375,409 shares in the last quarter. Janus Henderson Group PLC grew its position in Sysco by 4.1% during the third quarter. Janus Henderson Group PLC now owns 4,265,723 shares of the company’s stock valued at $332,983,000 after purchasing an additional 168,163 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Sysco by 17.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,918,365 shares of the company’s stock valued at $305,868,000 after purchasing an additional 569,058 shares in the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on SYY shares. Wells Fargo & Company boosted their price objective on shares of Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. decreased their target price on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Melius assumed coverage on shares of Sysco in a research report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 target price for the company. Barclays decreased their target price on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Finally, Morgan Stanley decreased their target price on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Sysco presently has a consensus rating of “Moderate Buy” and an average price target of $84.77.

Sysco Price Performance

Shares of Sysco stock opened at $74.78 on Tuesday. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.33. The firm has a fifty day moving average price of $73.28 and a two-hundred day moving average price of $75.49. The company has a market cap of $36.58 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11.

Sysco (NYSE:SYY) last issued its quarterly earnings results 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 period in the prior year, the firm posted $0.89 earnings per share. Analysts expect that Sysco Co. will post 4.58 EPS for the current year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s dividend payout ratio is 52.44%.

Insider Activity

In other news, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the transaction, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. This represents a 46.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate 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.