Stevens Capital Management LP Sells 13,156 Shares of Sysco Co. (NYSE:SYY)

Stevens Capital Management LP cut its holdings in Sysco Co. (NYSE:SYY) by 48.1% during the 4th quarter, Holdings Channel reports. The fund owned 14,168 shares of the company’s stock after selling 13,156 shares during the period. Stevens Capital Management LP’s holdings in Sysco were worth $1,036,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Invesco Ltd. raised its holdings in Sysco by 11.0% in the 3rd 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. Northern Trust Corp increased its position in Sysco by 3.0% in the third quarter. Northern Trust Corp now owns 6,138,310 shares of the company’s stock worth $405,435,000 after buying an additional 178,464 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Sysco by 4.9% in the third quarter. Bank of New York Mellon Corp now owns 5,651,746 shares of the company’s stock worth $373,298,000 after buying an additional 265,621 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Sysco by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,738,940 shares of the company’s stock valued at $180,907,000 after buying an additional 21,700 shares in the last quarter. Finally, Clarkston Capital Partners LLC grew its stake in shares of Sysco by 0.4% during the 3rd quarter. Clarkston Capital Partners LLC now owns 2,320,060 shares of the company’s stock valued at $153,240,000 after acquiring an additional 9,385 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

Shares of NYSE:SYY remained flat at $77.07 during mid-day trading on Friday. The company had a trading volume of 2,071,955 shares, compared to its average volume of 2,884,593. The firm has a market cap of $38.37 billion, a P/E ratio of 18.84, a P/E/G ratio of 1.58 and a beta of 1.15. The business has a 50-day moving average of $79.21 and a 200 day moving average of $74.68. The company has a debt-to-equity ratio of 5.00, a quick ratio of 0.80 and a current ratio of 1.37. Sysco Co. has a 12 month low of $62.24 and a 12 month high of $82.89.

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

Sysco Announces Dividend

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

Insider Buying and Selling at Sysco

In related news, CAO Neil Russell sold 1,722 shares of the 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 sale, the chief accounting officer now owns 24,082 shares in the company, valued at approximately $1,926,560. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.58% of the company’s stock.

Analysts Set New Price Targets

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

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.