Royal London Asset Management Ltd. Has $23.07 Million Stake in Sysco Co. (NYSE:SYY)

Royal London Asset Management Ltd. raised its position in Sysco Co. (NYSE:SYY) by 2.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 301,681 shares of the company’s stock after acquiring an additional 7,198 shares during the period. Royal London Asset Management Ltd. owned about 0.06% of Sysco worth $23,067,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Stonebridge Financial Group LLC bought a new stake in Sysco in the 4th quarter valued at approximately $31,000. Sherman Asset Management Inc. bought a new stake in Sysco in the 4th quarter valued at approximately $31,000. Flagship Wealth Advisors LLC bought a new stake in Sysco in the 4th quarter valued at approximately $31,000. SRS Capital Advisors Inc. lifted its stake in Sysco by 53.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after acquiring an additional 149 shares in the last quarter. Finally, HHM Wealth Advisors LLC lifted its stake in Sysco by 107.4% in the 4th quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock valued at $47,000 after acquiring an additional 321 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on SYY. Morgan Stanley cut their target price on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Wells Fargo & Company upped their price objective on Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Melius initiated coverage on Sysco in a research note on Wednesday, December 18th. They set a “hold” rating and a $85.00 price objective on the stock. JPMorgan Chase & Co. dropped their price objective on Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Finally, Jefferies Financial Group upped their price objective on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Sysco presently has an average rating of “Moderate Buy” and a consensus target price of $84.77.

Sysco Stock Down 0.1 %

SYY stock opened at $71.12 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 $73.10 and its 200 day simple moving average is $75.36. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.33. The firm has a market capitalization of $34.79 billion, a PE ratio of 18.28, a PEG ratio of 1.88 and a beta of 1.11.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 EPS 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 last year, the business posted $0.89 EPS. As a group, research analysts anticipate that Sysco Co. will post 4.58 EPS for the current year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s dividend payout ratio is 52.44%.

Insider Buying and Selling at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the company’s 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 transaction, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at $4,335,408. This represents a 46.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.54% of the company’s stock.

Sysco 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.