Sei Investments Co. Has $20.85 Million Stake in Sysco Co. (NYSE:SYY)

Sei Investments Co. reduced its position in shares of Sysco Co. (NYSE:SYY) by 39.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 272,651 shares of the company’s stock after selling 175,316 shares during the quarter. Sei Investments Co.’s holdings in Sysco were worth $20,847,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in SYY. Stonebridge Financial Group LLC acquired a new stake in shares of Sysco during the fourth quarter worth $31,000. Flagship Wealth Advisors LLC acquired a new stake in Sysco in the 4th quarter worth about $31,000. Sherman Asset Management Inc. bought a new stake in Sysco in the 4th quarter valued at about $31,000. SRS Capital Advisors Inc. grew its position in shares of Sysco by 53.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after purchasing an additional 149 shares in the last quarter. Finally, HHM Wealth Advisors LLC grew its position in shares of Sysco by 107.4% during the 4th quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock worth $47,000 after purchasing an additional 321 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Greg D. Bertrand sold 48,027 shares of the 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 represents a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

SYY has been the subject of several recent research reports. Melius started coverage on Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price target for the company. Melius Research upgraded Sysco to a “hold” rating in a research report on Wednesday, December 18th. Guggenheim reissued a “buy” rating and set a $85.00 target price on shares of Sysco in a report on Wednesday, January 29th. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 20th. Finally, UBS Group reduced their price objective on shares of Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $84.77.

Sysco Stock Up 3.3 %

Shares of NYSE:SYY opened at $72.74 on Thursday. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.33. The company has a market capitalization of $35.58 billion, a PE ratio of 18.70, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. The company has a fifty day moving average of $72.95 and a 200-day moving average of $75.19.

Sysco (NYSE:SYY) last posted its 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 return on equity of 106.30% and a net margin of 2.40%. During the same period in the prior year, the firm earned $0.89 earnings per share. On average, equities analysts predict that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s dividend payout ratio (DPR) is currently 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.