Simplicity Wealth LLC Sells 7,956 Shares of Sysco Co. (NYSE:SYY)

Simplicity Wealth LLC reduced its stake in Sysco Co. (NYSE:SYY) by 42.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,795 shares of the company’s stock after selling 7,956 shares during the period. Simplicity Wealth LLC’s holdings in Sysco were worth $825,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. State Street Corp increased its stake in shares of Sysco by 11.1% during the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after purchasing an additional 2,721,449 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Sysco during the third quarter valued at approximately $137,900,000. Raymond James Financial Inc. bought a new position in shares of Sysco during the fourth quarter valued at approximately $97,078,000. Nordea Investment Management AB increased its stake in shares of Sysco by 52.3% during the fourth quarter. Nordea Investment Management AB now owns 2,719,478 shares of the company’s stock valued at $208,666,000 after purchasing an additional 933,327 shares in the last quarter. Finally, Amundi increased its stake in shares of Sysco by 42.2% during the fourth quarter. Amundi now owns 2,730,010 shares of the company’s stock valued at $204,341,000 after purchasing an additional 809,582 shares in the last quarter. 83.41% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the transaction, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at $4,335,408. This trade represents a 46.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.54% of the company’s stock.

Sysco Stock Performance

Shares of NYSE SYY opened at $76.53 on Monday. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. The company has a market cap of $37.44 billion, a P/E ratio of 19.67, a P/E/G ratio of 1.88 and a beta of 1.11. The firm’s fifty day moving average is $73.47 and its two-hundred day moving average is $75.60. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.33.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting 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 period in the prior year, the company posted $0.89 EPS. As a group, analysts anticipate that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be paid a $0.51 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.67%. Sysco’s payout ratio is currently 52.44%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SYY shares. Melius Research raised shares of Sysco to a “hold” rating in a research note on Wednesday, December 18th. Wells Fargo & Company increased their price target on shares of Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Morgan Stanley dropped their target price on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Jefferies Financial Group raised their target price on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Finally, Guggenheim reiterated a “buy” rating and set a $85.00 price target on shares of Sysco in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $84.77.

Sysco Company 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.