Ellenbecker Investment Group Sells 620 Shares of Sysco Co. (NYSE:SYY)

Ellenbecker Investment Group cut its stake in Sysco Co. (NYSE:SYY) by 4.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,282 shares of the company’s stock after selling 620 shares during the quarter. Ellenbecker Investment Group’s holdings in Sysco were worth $898,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of SYY. Trian Fund Management L.P. purchased a new stake in Sysco in the third quarter worth $80,812,000. Invesco Ltd. increased its stake in Sysco by 11.0% in the third quarter. Invesco Ltd. now owns 10,859,690 shares of the company’s stock worth $717,283,000 after purchasing an additional 1,076,287 shares during the period. Acadian Asset Management LLC increased its stake in Sysco by 1,591.5% in the third quarter. Acadian Asset Management LLC now owns 764,235 shares of the company’s stock worth $50,462,000 after purchasing an additional 719,054 shares during the period. Becker Capital Management Inc. increased its stake in shares of Sysco by 3,671.0% during the third quarter. Becker Capital Management Inc. now owns 470,888 shares of the company’s stock valued at $31,102,000 after buying an additional 458,401 shares during the period. Finally, Vaughan David Investments LLC IL purchased a new position in shares of Sysco during the fourth quarter valued at $32,976,000. 83.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Sysco news, CAO Neil Russell sold 1,722 shares of the business’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total transaction of $137,760.00. Following the transaction, the chief accounting officer now owns 24,082 shares of the company’s stock, valued at $1,926,560. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.58% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on SYY shares. Barclays raised their price target on Sysco from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. JPMorgan Chase & Co. raised their price objective on Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. BMO Capital Markets raised their price objective on Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Stephens raised their price objective on Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. Finally, StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Sysco has a consensus rating of “Moderate Buy” and an average target price of $85.38.

Sysco Stock Performance

SYY stock traded down $0.36 during trading on Tuesday, hitting $76.96. 2,123,721 shares of the company traded hands, compared to its average volume of 2,916,441. The stock’s 50-day simple moving average is $79.33 and its 200 day simple moving average is $74.55. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.37 and a quick ratio of 0.80. The company has a market cap of $38.31 billion, a PE ratio of 18.91, a P/E/G ratio of 1.56 and a beta of 1.15. Sysco Co. has a 1 year low of $62.24 and a 1 year high of $82.89.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, January 30th. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $19.29 billion during the quarter, compared to analysts’ expectations of $19.32 billion. Sysco had a return on equity of 105.22% and a net margin of 2.69%. The business’s revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.80 earnings per share. On average, equities analysts expect that Sysco Co. will post 4.3 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 5th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Thursday, April 4th. Sysco’s payout ratio is 48.90%.

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.