Cetera Advisor Networks LLC reduced its stake in shares of SYSCO Co. (NYSE:SYY) by 17.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,249 shares of the company’s stock after selling 3,552 shares during the quarter. Cetera Advisor Networks LLC’s holdings in SYSCO were worth $1,083,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. CIBC World Markets Inc. boosted its holdings in shares of SYSCO by 222.8% in the 3rd quarter. CIBC World Markets Inc. now owns 15,739 shares of the company’s stock valued at $1,153,000 after buying an additional 10,863 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in SYSCO by 1.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,346,802 shares of the company’s stock valued at $98,649,000 after acquiring an additional 21,694 shares in the last quarter. Blair William & Co. IL increased its holdings in SYSCO by 1.7% during the 3rd quarter. Blair William & Co. IL now owns 84,835 shares of the company’s stock valued at $6,214,000 after acquiring an additional 1,450 shares in the last quarter. AMP Capital Investors Ltd increased its holdings in SYSCO by 4.3% during the 3rd quarter. AMP Capital Investors Ltd now owns 252,602 shares of the company’s stock valued at $18,395,000 after acquiring an additional 10,314 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in SYSCO by 43.3% during the 3rd quarter. Franklin Resources Inc. now owns 117,498 shares of the company’s stock valued at $8,607,000 after acquiring an additional 35,528 shares in the last quarter. Hedge funds and other institutional investors own 80.19% of the company’s stock.
Shares of SYY stock traded up $0.35 during trading hours on Friday, hitting $70.99. 2,410,455 shares of the company’s stock were exchanged, compared to its average volume of 2,276,007. The stock has a market capitalization of $36.45 billion, a PE ratio of 22.61, a PEG ratio of 2.03 and a beta of 0.54. SYSCO Co. has a 52 week low of $59.44 and a 52 week high of $75.98. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.76 and a current ratio of 1.25.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 5th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 2.20%. The ex-dividend date is Thursday, April 4th. SYSCO’s dividend payout ratio is 49.68%.
SYY has been the topic of several research analyst reports. Zacks Investment Research cut shares of SYSCO from a “buy” rating to a “hold” rating in a research report on Thursday, April 11th. Loop Capital set a $75.00 price target on shares of SYSCO and gave the stock a “buy” rating in a research note on Tuesday, February 5th. Pivotal Research reiterated a “sell” rating and issued a $54.00 target price on shares of SYSCO in a report on Friday, February 1st. Finally, Bank of America cut SYSCO from a “buy” rating to a “neutral” rating and set a $68.00 target price for the company. in a research report on Wednesday, January 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. SYSCO currently has an average rating of “Hold” and an average target price of $73.00.
In other news, Director Trian Fund Management, L.P. sold 707,000 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $66.30, for a total transaction of $46,874,100.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Russell T. Libby sold 60,156 shares of the firm’s stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $63.40, for a total value of $3,813,890.40. Following the sale, the insider now directly owns 62,597 shares in the company, valued at approximately $3,968,649.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 789,477 shares of company stock worth $52,157,382. 7.88% of the stock is owned by company insiders.
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Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.
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