Sysco Co. (NYSE:SYY) Shares Sold by Sumitomo Mitsui Financial Group Inc.

Sumitomo Mitsui Financial Group Inc. lessened its holdings in Sysco Co. (NYSE:SYY) by 8.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,609 shares of the company’s stock after selling 1,998 shares during the period. 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.

Other large investors also recently bought and sold shares of the company. Stonebridge Financial Group LLC purchased a new position in shares of Sysco during the 4th quarter valued at approximately $31,000. Sherman Asset Management Inc. acquired a new stake in shares of Sysco in the fourth quarter valued at about $31,000. Flagship Wealth Advisors LLC acquired a new position in shares of Sysco during the 4th quarter worth about $31,000. SRS Capital Advisors Inc. lifted its stake in Sysco by 53.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after buying an additional 149 shares in the last quarter. Finally, HHM Wealth Advisors LLC boosted its holdings in Sysco by 107.4% in the 4th quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock worth $47,000 after buying an additional 321 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Analyst Ratings Changes

SYY has been the topic of a number of recent research reports. Jefferies Financial Group boosted their price target on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. UBS Group dropped their price target on Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Morgan Stanley lowered their price objective on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. JPMorgan Chase & Co. cut their target price on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Finally, Guggenheim reissued a “buy” rating and set a $85.00 price target on shares of Sysco in a research report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $84.77.

Sysco Stock Performance

Shares of SYY stock opened at $71.41 on Monday. The stock’s 50-day moving average is $73.07 and its two-hundred day moving average is $75.04. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. Sysco Co. has a 1 year low of $68.81 and a 1 year high of $82.23. The firm has a market cap of $34.94 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 1.88 and a beta of 0.91.

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

Sysco Announces Dividend

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 yield of 2.86%. Sysco’s dividend payout ratio is presently 52.44%.

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.