Sysco Co. (NYSE:SYY) is Sawyer & Company Inc’s 8th Largest Position

Sawyer & Company Inc trimmed its holdings in shares of Sysco Co. (NYSE:SYY) by 5.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,731 shares of the company’s stock after selling 3,939 shares during the period. Sysco comprises approximately 2.2% of Sawyer & Company Inc’s portfolio, making the stock its 8th largest position. Sawyer & Company Inc’s holdings in Sysco were worth $5,099,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. raised its stake in shares of Sysco by 1.7% during the second quarter. BlackRock Inc. now owns 32,931,823 shares of the company’s stock valued at $2,443,541,000 after acquiring an additional 549,086 shares during the last quarter. State Street Corp raised its stake in shares of Sysco by 1.5% during the second quarter. State Street Corp now owns 24,451,298 shares of the company’s stock valued at $1,814,286,000 after acquiring an additional 357,246 shares during the last quarter. Invesco Ltd. raised its stake in shares of Sysco by 11.0% during the third quarter. Invesco Ltd. now owns 10,859,690 shares of the company’s stock valued at $717,283,000 after acquiring an additional 1,076,287 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Sysco by 1.8% during the first quarter. Geode Capital Management LLC now owns 8,909,697 shares of the company’s stock valued at $686,254,000 after acquiring an additional 161,756 shares during the last quarter. Finally, Longview Partners Guernsey LTD raised its stake in shares of Sysco by 10.7% during the second quarter. Longview Partners Guernsey LTD now owns 8,082,858 shares of the company’s stock valued at $599,748,000 after acquiring an additional 784,549 shares during the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Trading Up 1.5 %

NYSE:SYY opened at $82.14 on Wednesday. The company’s 50 day moving average price is $79.30 and its 200-day moving average price is $73.17. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89. The company has a quick ratio of 0.80, a current ratio of 1.37 and a debt-to-equity ratio of 5.00. The stock has a market cap of $40.89 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 1.65 and a beta of 1.16.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, January 30th. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. Sysco had a net margin of 2.69% and a return on equity of 105.22%. The firm had revenue of $19.29 billion for the quarter, compared to analysts’ expectations of $19.32 billion. During the same quarter in the prior year, the company posted $0.80 earnings per share. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities research analysts forecast that Sysco Co. will post 4.3 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 5th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend is Thursday, April 4th. Sysco’s dividend payout ratio is currently 48.90%.

Insider Buying and Selling

In related news, CAO Neil Russell sold 1,722 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total value of $137,760.00. Following the sale, the chief accounting officer now owns 24,082 shares in the company, valued at $1,926,560. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.58% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

SYY has been the subject of several recent analyst reports. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 1st. Barclays increased their price target on shares of Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. Stephens increased their price target on shares of Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. JPMorgan Chase & Co. increased their price target on shares of Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Finally, BMO Capital Markets raised their target price on shares of Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $85.38.

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.