Sysco Co. (NYSE:SYY) Shares Sold by Pacific Global Investment Management Co.

Pacific Global Investment Management Co. cut its holdings in shares of Sysco Co. (NYSE:SYY) by 95.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,835 shares of the company’s stock after selling 81,777 shares during the quarter. Pacific Global Investment Management Co.’s holdings in Sysco were worth $293,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in SYY. Ashton Thomas Securities LLC acquired a new stake in shares of Sysco in the third quarter worth approximately $26,000. Stonebridge Financial Group LLC acquired a new position in shares of Sysco in the 4th quarter valued at $31,000. Valley Wealth Managers Inc. purchased a new stake in shares of Sysco during the 3rd quarter valued at $31,000. Sherman Asset Management Inc. acquired a new stake in shares of Sysco during the 4th quarter worth $31,000. Finally, SRS Capital Advisors Inc. raised its position in shares of Sysco by 53.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after buying an additional 149 shares during the period. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Stock Performance

SYY opened at $75.53 on Monday. The business has a 50 day moving average price of $73.66 and a two-hundred day moving average price of $75.65. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The company has a market capitalization of $36.95 billion, a price-to-earnings ratio of 19.42, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.33.

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, hitting the consensus estimate 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 previous year, the company posted $0.89 EPS. Research analysts predict that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be issued a $0.51 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.70%. Sysco’s dividend payout ratio is currently 52.44%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SYY. Barclays cut their price objective on Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 25th. Melius initiated coverage on shares of Sysco in a research note on Wednesday, December 18th. They set a “hold” rating and a $85.00 price objective for the company. JPMorgan Chase & Co. cut their target price on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Finally, Wells Fargo & Company raised their price objective on Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. 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, Sysco currently has an average rating of “Moderate Buy” and a consensus price target of $84.77.

Insider Activity

In other Sysco news, 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 sale, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Eve M. Mcfadden sold 6,499 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $519,920.00. Following the sale, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,876,080. This represents a 11.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 76,370 shares of company stock worth $5,965,519. Insiders own 0.54% of the company’s stock.

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.