Sysco Co. (NYSE:SYY) Shares Sold by Associated Banc Corp

Associated Banc Corp lowered its stake in Sysco Co. (NYSE:SYY) by 5.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 264,549 shares of the company’s stock after selling 16,473 shares during the period. Associated Banc Corp’s holdings in Sysco were worth $20,227,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Fortem Financial Group LLC grew its stake in shares of Sysco by 3.6% in the fourth quarter. Fortem Financial Group LLC now owns 3,875 shares of the company’s stock valued at $296,000 after buying an additional 136 shares in the last quarter. Morton Community Bank grew its stake in shares of Sysco by 0.4% in the fourth quarter. Morton Community Bank now owns 40,585 shares of the company’s stock valued at $3,103,000 after buying an additional 145 shares in the last quarter. SRS Capital Advisors Inc. grew its stake in shares of Sysco by 53.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after buying an additional 149 shares in the last quarter. S.A. Mason LLC boosted its holdings in Sysco by 10.7% in the fourth quarter. S.A. Mason LLC now owns 1,546 shares of the company’s stock valued at $118,000 after purchasing an additional 150 shares during the last quarter. Finally, HM Payson & Co. boosted its holdings in Sysco by 0.8% in the fourth quarter. HM Payson & Co. now owns 19,160 shares of the company’s stock valued at $1,465,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Insider Activity at Sysco

In related news, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction that occurred 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.54% of the stock is owned by insiders.

Sysco Stock Up 1.0 %

Shares of Sysco stock opened at $73.35 on Friday. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The business’s 50 day simple moving average is $73.28 and its 200-day simple moving average is $75.52. The stock has a market capitalization of $35.89 billion, a price-to-earnings ratio of 18.86, a PEG ratio of 1.88 and a beta of 1.11. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.33.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same quarter in the previous year, the business posted $0.89 EPS. Equities research analysts forecast that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The firm 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. This represents a $2.04 annualized dividend and a yield of 2.78%. The ex-dividend date is Friday, April 4th. Sysco’s dividend payout ratio is currently 52.44%.

Analyst Ratings Changes

A number of research analysts recently commented on SYY shares. StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Jefferies Financial Group increased their target price on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Barclays reduced their target price on Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Melius Research raised Sysco to a “hold” rating in a report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. reduced their target price on Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and an average price target of $84.77.

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.