Sysco Co. (NYSE:SYY) Shares Sold by TIAA Trust National Association

TIAA Trust National Association trimmed its position in shares of Sysco Co. (NYSE:SYY) by 5.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,167 shares of the company’s stock after selling 1,725 shares during the period. TIAA Trust National Association’s holdings in Sysco were worth $2,459,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Buckley Wealth Management LLC lifted its position in shares of Sysco by 0.8% in the 4th quarter. Buckley Wealth Management LLC now owns 18,188 shares of the company’s stock worth $1,391,000 after buying an additional 150 shares during the last quarter. WR Wealth Planners LLC raised its stake in shares of Sysco by 9.9% in the 4th quarter. WR Wealth Planners LLC now owns 4,270 shares of the company’s stock worth $326,000 after buying an additional 386 shares in the last quarter. Captrust Financial Advisors lifted its holdings in Sysco by 7.7% in the 3rd quarter. Captrust Financial Advisors now owns 124,341 shares of the company’s stock valued at $9,706,000 after acquiring an additional 8,891 shares during the last quarter. Clark & Stuart Inc acquired a new stake in Sysco during the fourth quarter valued at approximately $7,613,000. Finally, Kovitz Investment Group Partners LLC boosted its stake in shares of Sysco by 76.0% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 135,362 shares of the company’s stock worth $10,256,000 after acquiring an additional 58,430 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Stock Up 3.3 %

Shares of SYY opened at $72.74 on Thursday. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The stock has a market capitalization of $35.58 billion, a PE ratio of 18.70, a P/E/G ratio of 1.88 and a beta of 1.11. The firm’s 50 day moving average is $72.95 and its 200-day moving average is $75.19. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.33.

Sysco (NYSE:SYY) last released its 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 return on equity of 106.30% and a net margin of 2.40%. During the same period in the previous year, the firm earned $0.89 EPS. Equities research analysts forecast that Sysco Co. will post 4.58 EPS for the current year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be issued a dividend of $0.51 per share. The ex-dividend date is Friday, April 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.80%. Sysco’s dividend payout ratio is currently 52.44%.

Wall Street Analyst Weigh In

SYY has been the topic of several recent analyst reports. Barclays dropped their price target on Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Morgan Stanley decreased their price objective on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Guggenheim reiterated a “buy” rating and set a $85.00 price target on shares of Sysco in a report on Wednesday, January 29th. Wells Fargo & Company lifted their price objective on Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. cut their target price on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.77.

Insiders Place Their Bets

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

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.