19,656 Shares in Sysco Co. (NYSE:SYY) Acquired by Allianz SE

Allianz SE purchased a new position in shares of Sysco Co. (NYSE:SYY) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 19,656 shares of the company’s stock, valued at approximately $1,501,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Townsquare Capital LLC increased its stake in Sysco by 10.0% during the 3rd quarter. Townsquare Capital LLC now owns 18,758 shares of the company’s stock valued at $1,464,000 after buying an additional 1,706 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of 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 acquiring an additional 569,058 shares during the period. Financial Counselors Inc. raised its holdings in Sysco by 5.0% during the third quarter. Financial Counselors Inc. now owns 10,794 shares of the company’s stock worth $843,000 after purchasing an additional 516 shares in the last quarter. Vinva Investment Management Ltd boosted its stake in Sysco by 13.7% during the 3rd quarter. Vinva Investment Management Ltd now owns 23,133 shares of the company’s stock valued at $1,797,000 after purchasing an additional 2,782 shares in the last quarter. Finally, Captrust Financial Advisors increased 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 during the period. Institutional investors own 83.41% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on SYY shares. Melius Research upgraded Sysco to a “hold” rating in a report on Wednesday, December 18th. UBS Group reduced their price objective on shares of Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Jefferies Financial Group boosted their target price on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. Finally, 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, January 29th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $84.77.

Sysco Stock Performance

Shares of SYY stock opened at $74.10 on Friday. The stock’s fifty day simple moving average is $72.99 and its 200-day simple moving average is $75.13. The company has a market capitalization of $36.25 billion, a price-to-earnings ratio of 19.05, a P/E/G ratio of 1.88 and a beta of 1.11. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.23.

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

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Friday, April 4th. Sysco’s dividend payout ratio (DPR) is currently 52.44%.

Insider Activity

In related news, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the sale, the executive vice president now owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This trade represents a 46.03 % 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. 0.54% of the stock is currently owned by corporate insiders.

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.