Sumitomo Mitsui Financial Group Inc. Cuts Stake in Sysco Co. (NYSE:SYY)

Sumitomo Mitsui Financial Group Inc. decreased its position in Sysco Co. (NYSE:SYY) by 8.8% during the 4th quarter, Holdings Channel reports. The fund owned 20,609 shares of the company’s stock after selling 1,998 shares during the quarter. Sumitomo Mitsui Financial Group Inc.’s holdings in Sysco were worth $1,576,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Stonebridge Financial Group LLC acquired a new position in Sysco during the 4th quarter worth approximately $31,000. Sherman Asset Management Inc. acquired a new position in Sysco during the fourth quarter worth $31,000. Flagship Wealth Advisors LLC purchased a new position in Sysco in the fourth quarter worth $31,000. SRS Capital Advisors Inc. lifted its holdings in Sysco by 53.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after acquiring an additional 149 shares during the period. Finally, HHM Wealth Advisors LLC boosted its position in shares of Sysco by 107.4% during the 4th quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock worth $47,000 after purchasing an additional 321 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Stock Down 5.3 %

SYY opened at $71.41 on Monday. Sysco Co. has a 12 month low of $68.81 and a 12 month high of $82.23. The business has a 50-day moving average of $73.07 and a two-hundred day moving average of $75.04. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The stock has a market capitalization of $34.94 billion, a price-to-earnings ratio of 18.36, a price-to-earnings-growth ratio of 1.88 and a beta of 0.91.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter in the prior year, the company earned $0.89 EPS. On average, research analysts expect that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, April 4th. This represents a $2.04 annualized dividend and a yield of 2.86%. Sysco’s dividend payout ratio is presently 52.44%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SYY shares. JPMorgan Chase & Co. cut their price target on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. UBS Group reduced their price target on shares of Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. Barclays reduced their price objective on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Finally, Melius Research raised Sysco to a “hold” rating in a report on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Sysco presently has an average rating of “Moderate Buy” and an average target price of $84.77.

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.