Asset Dedication LLC Trims Holdings in Sysco Co. (NYSE:SYY)

Asset Dedication LLC lowered its stake in shares of Sysco Co. (NYSE:SYY) by 18.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 917 shares of the company’s stock after selling 203 shares during the period. Asset Dedication LLC’s holdings in Sysco were worth $70,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp increased its stake in Sysco by 11.1% during the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock worth $2,130,617,000 after purchasing an additional 2,721,449 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in Sysco in the 3rd quarter valued at approximately $137,900,000. Nordea Investment Management AB grew its stake in shares of Sysco by 52.3% in the fourth quarter. Nordea Investment Management AB now owns 2,719,478 shares of the company’s stock worth $208,666,000 after acquiring an additional 933,327 shares in the last quarter. Diamond Hill Capital Management Inc. grew its stake in Sysco by 11.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after purchasing an additional 672,940 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC purchased a new position in shares of Sysco in the 3rd quarter valued at about $44,722,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Trading Up 2.0 %

NYSE:SYY opened at $73.33 on Friday. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.89. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. The stock’s 50 day simple moving average is $76.40 and its 200-day simple moving average is $76.00. The firm has a market cap of $36.02 billion, a P/E ratio of 18.85, a PEG ratio of 2.04 and a beta of 1.18.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. Sysco had a net margin of 2.44% and a return on equity of 101.04%. During the same period in the previous year, the company posted $0.89 EPS. Equities analysts anticipate that Sysco Co. will post 4.57 EPS for the current year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, January 3rd were issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date was Friday, January 3rd. Sysco’s dividend payout ratio is presently 52.44%.

Insider Transactions at Sysco

In other news, SVP Eve M. Mcfadden sold 6,499 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $519,920.00. Following the completion of the transaction, the senior vice president now owns 48,451 shares in the company, valued at $3,876,080. This trade represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the sale, the executive vice president now owns 56,304 shares in the company, valued at $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 79,270 shares of company stock valued at $6,181,946 in the last ninety days. 0.54% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday. Melius began coverage on Sysco in a research note on Wednesday, December 18th. They set a “hold” rating and a $85.00 target price for the company. Melius Research upgraded shares of Sysco to a “hold” rating in a research note on Wednesday, December 18th. Jefferies Financial Group upped their target price on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 16th. Finally, Truist Financial cut their price target on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.21.

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.