Integrated Wealth Concepts LLC Lowers Stock Holdings in Sysco Co. (NYSE:SYY)

Integrated Wealth Concepts LLC reduced its holdings in shares of Sysco Co. (NYSE:SYY - Free Report) by 23.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,457 shares of the company's stock after selling 6,676 shares during the period. Integrated Wealth Concepts LLC's holdings in Sysco were worth $1,641,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Boston Partners grew its holdings in Sysco by 143.7% during the fourth quarter. Boston Partners now owns 12,184,114 shares of the company's stock worth $930,296,000 after buying an additional 7,184,754 shares in the last quarter. Norges Bank purchased a new position in Sysco during the fourth quarter worth about $450,441,000. Capital Research Global Investors increased its stake in Sysco by 27.3% in the 4th quarter. Capital Research Global Investors now owns 8,991,476 shares of the company's stock valued at $687,488,000 after buying an additional 1,928,002 shares during the last quarter. Mondrian Investment Partners LTD purchased a new position in shares of Sysco in the 4th quarter worth approximately $123,928,000. Finally, Raymond James Financial Inc. bought a new position in shares of Sysco in the fourth quarter valued at approximately $97,078,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Analyst Ratings Changes

SYY has been the subject of a number of research reports. StockNews.com downgraded shares of Sysco from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. Truist Financial lowered their target price on shares of Sysco from $85.00 to $83.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. UBS Group decreased their price target on shares of Sysco from $86.00 to $83.00 and set a "buy" rating on the stock in a report on Wednesday. JPMorgan Chase & Co. reduced their target price on Sysco from $86.00 to $82.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 4th. Finally, Barclays dropped their price target on Sysco from $87.00 to $77.00 and set an "overweight" rating for the company in a research note on Wednesday. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $83.38.

Insider Transactions at Sysco

In other news, Director Sheila Talton sold 356 shares of the firm's stock in a transaction that occurred on 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 sale, the director now directly owns 12,738 shares of the company's stock, valued at $902,359.92. This trade represents a 2.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.54% of the company's stock.

Sysco Stock Up 0.8 %

NYSE:SYY traded up $0.59 during mid-day trading on Friday, hitting $70.74. 2,512,147 shares of the company's stock were exchanged, compared to its average volume of 3,355,689. 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 cap of $34.61 billion, a PE ratio of 18.19, a P/E/G ratio of 1.88 and a beta of 0.91. The business has a fifty day moving average price of $72.66 and a 200 day moving average price of $74.32. Sysco Co. has a one year low of $67.12 and a one year high of $82.23.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 EPS 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 business had revenue of $19.60 billion during the quarter, compared to the consensus estimate of $20.11 billion. During the same quarter in the previous year, the business posted $0.96 earnings per share. Sysco's quarterly revenue was up 1.1% compared to the same quarter last year. Equities analysts predict that Sysco Co. will post 4.58 EPS for the current year.

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be given a $0.54 dividend. This is a boost from Sysco's previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.16 dividend on an annualized basis and a yield of 3.05%. Sysco's dividend payout ratio is presently 55.96%.

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.