Xponance Inc. Has $8.54 Million Holdings in Sysco Co. (NYSE:SYY)

Xponance Inc. cut its stake in Sysco Co. (NYSE:SYY) by 2.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 116,773 shares of the company’s stock after selling 3,046 shares during the period. Xponance Inc.’s holdings in Sysco were worth $8,540,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SYY. Moneta Group Investment Advisors LLC boosted its stake in Sysco by 70,686.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,967,508 shares of the company’s stock worth $532,666,000 after purchasing an additional 6,957,665 shares during the period. Norges Bank bought a new stake in Sysco during the 4th quarter worth about $397,373,000. Morgan Stanley lifted its position in Sysco by 34.8% during the 4th quarter. Morgan Stanley now owns 6,459,895 shares of the company’s stock worth $493,859,000 after buying an additional 1,666,008 shares in the last quarter. Imprint Wealth LLC lifted its position in Sysco by 7,204.3% during the 2nd quarter. Imprint Wealth LLC now owns 1,293,809 shares of the company’s stock worth $129,381,000 after buying an additional 1,276,096 shares in the last quarter. Finally, Trian Fund Management L.P. bought a new stake in Sysco during the 3rd quarter worth about $80,812,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Stock Performance

Shares of NYSE:SYY opened at $76.73 on Friday. The company’s 50 day moving average price is $79.39 and its two-hundred day moving average price is $74.32. Sysco Co. has a 12-month low of $62.24 and a 12-month high of $82.89. The firm has a market cap of $38.20 billion, a PE ratio of 18.76, a PEG ratio of 1.54 and a beta of 1.15. The company has a quick ratio of 0.80, a current ratio of 1.37 and a debt-to-equity ratio of 5.00.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, January 30th. The company reported $0.89 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $19.32 billion. During the same quarter in the prior year, the business posted $0.80 EPS. The business’s revenue was up 3.7% compared to the same quarter last year. Equities research analysts predict that Sysco Co. will post 4.3 earnings per share for the current year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders 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 dividend yield of 2.61%. Sysco’s payout ratio is presently 48.90%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on SYY shares. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. BMO Capital Markets upped their target price on shares of Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Barclays upped their target price on shares of Sysco from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. Stephens upped their target price on shares of Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. Finally, JPMorgan Chase & Co. upped their target price on shares of Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. 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.com, Sysco has an average rating of “Moderate Buy” and an average price target of $85.38.

Insiders Place Their Bets

In related news, CAO Neil Russell sold 1,722 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total transaction of $137,760.00. Following the sale, the chief accounting officer now owns 24,082 shares in the company, valued at approximately $1,926,560. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.58% of the company’s stock.

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.