Metis Global Partners LLC Decreases Stake in Sysco Co. (NYSE:SYY)

Metis Global Partners LLC lessened its position in Sysco Co. (NYSE:SYY) by 8.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,651 shares of the company’s stock after selling 1,837 shares during the period. Metis Global Partners LLC’s holdings in Sysco were worth $1,437,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. AdvisorNet Financial Inc increased its holdings in Sysco by 74.0% during the 4th quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock valued at $27,000 after purchasing an additional 159 shares during the period. Headlands Technologies LLC bought a new position in shares of Sysco during the fourth quarter valued at approximately $34,000. BKM Wealth Management LLC purchased a new stake in Sysco in the fourth quarter worth $42,000. Milestone Investment Advisors LLC bought a new stake in Sysco in the third quarter valued at $40,000. Finally, CGC Financial Services LLC increased its position in Sysco by 42.6% during the 4th quarter. CGC Financial Services LLC now owns 636 shares of the company’s stock valued at $47,000 after purchasing an additional 190 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Trading Down 1.6 %

Sysco stock opened at $74.62 on Thursday. Sysco Co. has a 12 month low of $62.24 and a 12 month high of $82.89. The company has a current ratio of 1.34, a quick ratio of 0.77 and a debt-to-equity ratio of 5.77. The business’s fifty day simple moving average is $78.44 and its two-hundred day simple moving average is $75.45. The company has a market capitalization of $37.16 billion, a price-to-earnings ratio of 18.20, a price-to-earnings-growth ratio of 1.92 and a beta of 1.16.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. The company had revenue of $19.38 billion for the quarter, compared to analysts’ expectations of $19.74 billion. Sysco had a net margin of 2.66% and a return on equity of 99.88%. Sysco’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.90 EPS. As a group, equities analysts predict that Sysco Co. will post 4.31 earnings per share for the current fiscal year.

Sysco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be issued a $0.51 dividend. This is a positive change from Sysco’s previous quarterly dividend of $0.50. This represents a $2.04 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Friday, July 5th. Sysco’s payout ratio is presently 49.76%.

Insider Activity at Sysco

In related news, CAO Neil Russell sold 1,722 shares of Sysco stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total value of $137,760.00. Following the completion of the sale, the chief accounting officer now directly owns 24,082 shares in the company, valued at approximately $1,926,560. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.58% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SYY has been the subject of several research analyst reports. UBS Group dropped their target price on shares of Sysco from $92.00 to $87.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Barclays upped their target price on Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. upped their price target on Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Finally, Stephens increased their price objective on Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.56.

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.