Ellenbecker Investment Group Reduces Stake in Sysco Co. (NYSE:SYY)

Ellenbecker Investment Group lowered its position in Sysco Co. (NYSE:SYY) by 4.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,282 shares of the company’s stock after selling 620 shares during the period. Ellenbecker Investment Group’s holdings in Sysco were worth $898,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SYY. Wealthfront Advisers LLC increased its position in Sysco by 263.4% during the 3rd quarter. Wealthfront Advisers LLC now owns 34,007 shares of the company’s stock valued at $2,246,000 after buying an additional 24,650 shares in the last quarter. Professional Advisory Services Inc. bought a new position in Sysco during the 4th quarter valued at approximately $20,057,000. Harbour Trust & Investment Management Co purchased a new position in Sysco during the fourth quarter valued at $4,623,000. Pacer Advisors Inc. lifted its position in Sysco by 40.1% during the fourth quarter. Pacer Advisors Inc. now owns 82,239 shares of the company’s stock valued at $6,014,000 after purchasing an additional 23,558 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Sysco by 16.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 298,982 shares of the company’s stock valued at $21,865,000 after purchasing an additional 41,618 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Sysco Trading Down 0.5 %

NYSE SYY traded down $0.36 during trading hours on Tuesday, hitting $76.96. 2,123,721 shares of the company were exchanged, compared to its average volume of 2,916,441. The stock has a 50-day moving average price of $79.33 and a 200 day moving average price of $74.55. The company has a quick ratio of 0.80, a current ratio of 1.37 and a debt-to-equity ratio of 5.00. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89. The stock has a market cap of $38.31 billion, a PE ratio of 18.91, a price-to-earnings-growth ratio of 1.56 and a beta of 1.15.

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

Sysco Announces Dividend

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

Analysts Set New Price Targets

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

Insider Buying and Selling at Sysco

In related news, CAO Neil Russell sold 1,722 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total value of $137,760.00. Following the completion of the sale, the chief accounting officer now owns 24,082 shares in the company, valued at $1,926,560. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.58% of the company’s stock.

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.