Ingalls & Snyder LLC Decreases Stock Position in Sysco Co. (NYSE:SYY)

Ingalls & Snyder LLC cut its holdings in Sysco Co. (NYSE:SYYFree Report) by 16.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,941 shares of the company’s stock after selling 600 shares during the quarter. Ingalls & Snyder LLC’s holdings in Sysco were worth $215,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SYY. Vontobel Holding Ltd. raised its stake in shares of Sysco by 166.0% in the first quarter. Vontobel Holding Ltd. now owns 16,127 shares of the company’s stock worth $1,338,000 after purchasing an additional 10,065 shares during the last quarter. Sei Investments Co. raised its stake in shares of Sysco by 6.9% in the first quarter. Sei Investments Co. now owns 258,746 shares of the company’s stock worth $21,068,000 after purchasing an additional 16,772 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of Sysco by 12.9% in the first quarter. Cetera Investment Advisers now owns 22,139 shares of the company’s stock worth $1,808,000 after purchasing an additional 2,522 shares during the last quarter. Baird Financial Group Inc. raised its stake in shares of Sysco by 1.0% in the first quarter. Baird Financial Group Inc. now owns 659,712 shares of the company’s stock worth $53,865,000 after purchasing an additional 6,711 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its position in Sysco by 54.8% during the first quarter. Parkside Financial Bank & Trust now owns 833 shares of the company’s stock valued at $68,000 after acquiring an additional 295 shares in the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Neil Russell sold 1,722 shares of Sysco stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total transaction of $137,760.00. Following the transaction, the chief accounting officer now owns 24,082 shares in the company, valued at $1,926,560. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.58% of the stock is currently owned by company insiders.

Sysco Stock Performance

Shares of NYSE:SYY opened at $75.25 on Monday. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.37 and a quick ratio of 0.80. The business’s 50 day moving average price is $79.80 and its 200-day moving average price is $74.09. The firm has a market capitalization of $37.46 billion, a PE ratio of 18.40, a P/E/G ratio of 1.53 and a beta of 1.15. Sysco Co. has a 1 year low of $62.24 and a 1 year high of $82.89.

Sysco (NYSE:SYYGet Free Report) last announced its quarterly earnings data on Tuesday, January 30th. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Sysco had a return on equity of 105.22% and a net margin of 2.69%. The firm had revenue of $19.29 billion for the quarter, compared to the consensus estimate of $19.32 billion. During the same quarter last year, the business posted $0.80 earnings per share. The firm’s revenue was up 3.7% compared to the same quarter last year. As a group, equities research analysts expect that Sysco Co. will post 4.3 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 5th will be given a dividend of $0.50 per share. The ex-dividend date is Thursday, April 4th. This represents a $2.00 dividend on an annualized basis and a yield of 2.66%. Sysco’s payout ratio is 48.90%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. Barclays lifted their price target on Sysco from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. JPMorgan Chase & Co. raised their price objective on Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Stephens raised their price objective on Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. Finally, BMO Capital Markets raised their price objective on Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.38.

Read Our Latest Stock Report on SYY

About Sysco

(Free Report)

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.

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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