Sysco Co. (NYSE:SYY) Shares Sold by New England Asset Management Inc.

New England Asset Management Inc. lowered its position in shares of Sysco Co. (NYSE:SYY) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 128,215 shares of the company’s stock after selling 3,145 shares during the quarter. Sysco accounts for 1.7% of New England Asset Management Inc.’s holdings, making the stock its 9th biggest position. New England Asset Management Inc.’s holdings in Sysco were worth $9,803,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. MV Capital Management Inc. lifted its holdings in shares of Sysco by 0.4% in the 4th quarter. MV Capital Management Inc. now owns 34,330 shares of the company’s stock worth $2,625,000 after purchasing an additional 144 shares in the last quarter. Morton Community Bank lifted its holdings in shares of Sysco by 0.4% in the 4th quarter. Morton Community Bank now owns 40,585 shares of the company’s stock worth $3,103,000 after purchasing an additional 145 shares in the last quarter. Nemes Rush Group LLC lifted its holdings in shares of Sysco by 5.9% in the 4th quarter. Nemes Rush Group LLC now owns 2,631 shares of the company’s stock worth $201,000 after purchasing an additional 147 shares in the last quarter. SRS Capital Advisors Inc. lifted its holdings 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 purchasing an additional 149 shares in the last quarter. Finally, FineMark National Bank & Trust lifted its holdings in shares of Sysco by 1.8% in the 4th quarter. FineMark National Bank & Trust now owns 8,580 shares of the company’s stock worth $656,000 after purchasing an additional 149 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Insiders Place Their Bets

In other Sysco news, Director Sheila Talton sold 356 shares of the firm’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $70.84, for a total value of $25,219.04. Following the completion of the transaction, the director now owns 12,738 shares in the company, valued at $902,359.92. This trade represents a 2.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.54% of the stock is owned by corporate insiders.

Sysco Trading Up 1.6%

Shares of SYY opened at $71.91 on Tuesday. The business has a 50-day moving average of $72.11 and a 200 day moving average of $74.12. Sysco Co. has a fifty-two week low of $67.12 and a fifty-two week high of $82.23. The firm has a market cap of $34.86 billion, a P/E ratio of 18.49, a price-to-earnings-growth ratio of 1.88 and a beta of 0.80. 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 (NYSE:SYY) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.06). Sysco had a return on equity of 106.30% and a net margin of 2.40%. The firm had revenue of $19.60 billion during the quarter, compared to analysts’ expectations of $20.11 billion. During the same period last year, the business posted $0.96 EPS. The company’s revenue was up 1.1% compared to the same quarter last year. As a group, research analysts forecast that Sysco Co. will post 4.58 EPS for the current year.

Sysco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be paid a $0.54 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $2.16 annualized dividend and a yield of 3.00%. This is an increase from Sysco’s previous quarterly dividend of $0.51. Sysco’s dividend payout ratio (DPR) is currently 55.96%.

Analysts Set New Price Targets

A number of research firms recently commented on SYY. Barclays lowered their price target on Sysco from $87.00 to $77.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. Sanford C. Bernstein set a $87.00 target price on Sysco and gave the company an “overweight” rating in a research report on Tuesday, April 22nd. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. UBS Group decreased their target price on Sysco from $86.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. Finally, Guggenheim reaffirmed a “buy” rating and set a $85.00 target price on shares of Sysco in a research report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.38.

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.