Mercer Global Advisors Inc. ADV Sells 9,435 Shares of Sysco Co. (NYSE:SYY)

Mercer Global Advisors Inc. ADV lessened its position in shares of Sysco Co. (NYSE:SYY - Free Report) by 17.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,462 shares of the company's stock after selling 9,435 shares during the period. Mercer Global Advisors Inc. ADV's holdings in Sysco were worth $3,476,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Buckley Wealth Management LLC boosted its position in Sysco by 0.8% during the 4th quarter. Buckley Wealth Management LLC now owns 18,188 shares of the company's stock worth $1,391,000 after acquiring an additional 150 shares during the last quarter. WR Wealth Planners LLC increased its stake in Sysco by 9.9% in the 4th quarter. WR Wealth Planners LLC now owns 4,270 shares of the company's stock valued at $326,000 after buying an additional 386 shares during the last quarter. Clark & Stuart Inc bought a new stake in Sysco during the 4th quarter worth about $7,613,000. Boston Trust Walden Corp boosted its stake in shares of Sysco by 179.5% during the 4th quarter. Boston Trust Walden Corp now owns 804,345 shares of the company's stock worth $61,500,000 after buying an additional 516,585 shares during the last quarter. Finally, Lmcg Investments LLC bought a new position in shares of Sysco in the 4th quarter valued at about $3,668,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Insider Transactions at Sysco

In other news, Director Sheila Talton sold 356 shares of the stock in a transaction dated Thursday, May 1st. The shares were 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 of the company's stock, valued at approximately $902,359.92. This represents a 2.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.54% of the stock is currently owned by insiders.

Sysco Stock Performance

Shares of NYSE:SYY traded down $0.83 on Friday, reaching $70.77. 2,400,998 shares of the company's stock were exchanged, compared to its average volume of 3,355,028. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. Sysco Co. has a twelve month low of $67.12 and a twelve month high of $82.23. The company has a fifty day moving average of $72.24 and a 200-day moving average of $74.16. The company has a market capitalization of $34.31 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 1.88 and a beta of 0.80.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 EPS for the quarter, missing analysts' consensus estimates of $1.02 by ($0.06). The company had revenue of $19.60 billion for the quarter, compared to the consensus estimate of $20.11 billion. Sysco had a return on equity of 106.30% and a net margin of 2.40%. Sysco's revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the business earned $0.96 EPS. On average, research analysts predict that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Increases Dividend

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

Analysts Set New Price Targets

A number of research firms have weighed in on SYY. Guggenheim restated a "buy" rating and issued a $85.00 price target on shares of Sysco in a research note on Wednesday, January 29th. StockNews.com cut shares of Sysco from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. Barclays decreased their price objective on shares of Sysco from $87.00 to $77.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Truist Financial cut their target price on shares of Sysco from $85.00 to $83.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Finally, UBS Group lowered their price target on Sysco from $86.00 to $83.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Sysco presently has a consensus rating of "Moderate Buy" and an average price target of $83.38.

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.