Sysco Co. (NYSE:SYY) Shares Sold by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. lessened its stake in Sysco Co. (NYSE:SYY) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 171,033 shares of the company’s stock after selling 3,107 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Sysco were worth $13,077,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of SYY. State Street Corp lifted its holdings in Sysco by 11.1% in the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after acquiring an additional 2,721,449 shares during the period. Diamond Hill Capital Management Inc. increased its holdings in shares of Sysco by 7.8% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 7,206,978 shares of the company’s stock valued at $551,046,000 after purchasing an additional 521,431 shares in the last quarter. Primecap Management Co. CA lifted its stake in shares of Sysco by 9.7% in the 3rd quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company’s stock valued at $374,410,000 after purchasing an additional 422,954 shares during the period. Montrusco Bolton Investments Inc. boosted its holdings in Sysco by 8.5% during the third quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company’s stock worth $366,789,000 after buying an additional 375,409 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in Sysco by 4.1% during the third quarter. Janus Henderson Group PLC now owns 4,265,723 shares of the company’s stock valued at $332,983,000 after buying an additional 168,163 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

Sysco stock opened at $74.78 on Tuesday. The company has a fifty day simple moving average of $73.28 and a 200-day simple moving average of $75.49. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The firm has a market capitalization of $36.58 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 1.88 and a beta of 1.11. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.33.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period in the prior year, the business posted $0.89 earnings per share. On average, equities analysts anticipate that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s payout ratio is currently 52.44%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SYY. UBS Group decreased their price objective on shares of Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Guggenheim reiterated a “buy” rating and set a $85.00 price target on shares of Sysco in a research report on Wednesday, January 29th. Barclays cut their price objective on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Jefferies Financial Group increased their target price on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Finally, Melius Research raised shares of Sysco to a “hold” rating in a report on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $84.77.

Insiders Place Their Bets

In related news, EVP Greg D. Bertrand sold 48,027 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the sale, the executive vice president now owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.54% of the company’s stock.

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.