Williams Financial LLC Cuts Position in Sysco Co. (NYSE:SYY)

Williams Financial LLC decreased its stake in Sysco Co. (NYSE:SYY) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,018 shares of the company’s stock after selling 140 shares during the quarter. Sysco comprises 0.2% of Williams Financial LLC’s portfolio, making the stock its 28th biggest holding. Williams Financial LLC’s holdings in Sysco were worth $294,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC raised its holdings in shares of Sysco by 70,686.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,967,508 shares of the company’s stock valued at $532,666,000 after acquiring an additional 6,957,665 shares during the last quarter. Norges Bank acquired a new position in Sysco during the fourth quarter worth $397,373,000. Morgan Stanley boosted its stake in Sysco by 34.8% during the fourth 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 during the last quarter. Holocene Advisors LP purchased a new stake in Sysco in the second quarter valued at $107,472,000. Finally, Imprint Wealth LLC raised its position in Sysco by 7,204.3% in the second quarter. Imprint Wealth LLC now owns 1,293,809 shares of the company’s stock valued at $129,381,000 after purchasing an additional 1,276,096 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Trading Down 0.9 %

SYY stock traded down $0.76 during midday trading on Friday, reaching $81.18. The company’s stock had a trading volume of 3,201,727 shares, compared to its average volume of 2,588,442. The business’s 50-day simple moving average is $79.56 and its 200-day simple moving average is $73.31. 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 $40.41 billion, a PE ratio of 19.85, a price-to-earnings-growth ratio of 1.67 and a beta of 1.16. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, January 30th. The company reported $0.89 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 business had revenue of $19.29 billion for the quarter, compared to analyst estimates of $19.32 billion. During the same period last year, the business posted $0.80 earnings per share. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, sell-side analysts expect that Sysco Co. will post 4.3 EPS for the current year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 5th will be paid a $0.50 dividend. The ex-dividend date is Thursday, April 4th. This represents a $2.00 dividend on an annualized basis and a yield of 2.46%. Sysco’s dividend payout ratio (DPR) is currently 48.90%.

Insider Buying and Selling at Sysco

In other news, CAO Neil Russell sold 1,722 shares of the company’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 transaction of $137,760.00. Following the completion of the sale, the chief accounting officer now owns 24,082 shares of the company’s stock, valued at approximately $1,926,560. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.58% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on SYY. JPMorgan Chase & Co. upped their price objective on Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Barclays upped their price objective on Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Stephens upped their target price on Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. Finally, BMO Capital Markets increased their target price on Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Sysco has an average rating of “Moderate Buy” and an average price target of $85.38.

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.