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

Stevens Capital Management LP lowered its stake in Sysco Co. (NYSE:SYY - Free Report) by 48.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Syon Capital LLC raised its holdings in Sysco by 24.2% during the 4th quarter. Syon Capital LLC now owns 7,505 shares of the company's stock worth $549,000 after purchasing an additional 1,464 shares during the last quarter. Disciplined Equity Management Inc. acquired a new stake in shares of Sysco during the 4th quarter worth approximately $76,000. GHE LLC raised its stake in shares of Sysco by 1.0% during the fourth quarter. GHE LLC now owns 14,718 shares of the company's stock worth $1,076,000 after buying an additional 146 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in Sysco by 4.0% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 18,872 shares of the company's stock valued at $1,380,000 after acquiring an additional 720 shares during the last quarter. Finally, Atria Wealth Solutions Inc. raised its position in shares of Sysco by 15.8% during the 4th quarter. Atria Wealth Solutions Inc. now owns 52,560 shares of the company's stock valued at $3,844,000 after acquiring an additional 7,156 shares during the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, CAO Neil Russell sold 1,722 shares of Sysco stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total value of $137,760.00. Following the sale, the chief accounting officer now owns 24,082 shares of the company's stock, valued at $1,926,560. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.58% of the stock is currently owned by corporate insiders.

Sysco Price Performance

Shares of Sysco stock remained flat at $77.07 on Friday. 2,071,955 shares of the stock traded hands, compared to its average volume of 2,884,593. The company has a fifty day simple moving average of $79.21 and a 200-day simple moving average of $74.68. Sysco Co. has a 12 month low of $62.24 and a 12 month high of $82.89. The company has a market capitalization of $38.37 billion, a price-to-earnings ratio of 18.84, a P/E/G ratio of 1.58 and a beta of 1.15. The company has a debt-to-equity ratio of 5.00, a current ratio of 1.37 and a quick ratio of 0.80.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings data on Tuesday, January 30th. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.01. The business had revenue of $19.29 billion during the quarter, compared to the consensus estimate of $19.32 billion. Sysco had a return on equity of 105.22% and a net margin of 2.69%. Sysco's quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the company earned $0.80 earnings per share. Equities analysts predict that Sysco Co. will post 4.3 EPS for the current year.

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 5th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date is Thursday, April 4th. Sysco's dividend payout ratio is presently 48.90%.

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.

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