Stokes Family Office LLC Sells 2,056 Shares of Sysco Co. (NYSE:SYY)

Stokes Family Office LLC decreased its holdings in shares of Sysco Co. (NYSE:SYY) by 11.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,435 shares of the company’s stock after selling 2,056 shares during the quarter. Stokes Family Office LLC’s holdings in Sysco were worth $1,180,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. West Tower Group LLC raised its stake in Sysco by 71.4% during the fourth quarter. West Tower Group LLC now owns 6,000 shares of the company’s stock valued at $459,000 after purchasing an additional 2,500 shares in the last quarter. Trillium Asset Management LLC raised its stake in Sysco by 23.3% during the fourth quarter. Trillium Asset Management LLC now owns 198,405 shares of the company’s stock valued at $15,170,000 after purchasing an additional 37,507 shares in the last quarter. Boston Partners raised its stake in Sysco by 143.7% during the fourth quarter. Boston Partners now owns 12,184,114 shares of the company’s stock valued at $930,296,000 after purchasing an additional 7,184,754 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in Sysco by 14.9% during the fourth quarter. Thrivent Financial for Lutherans now owns 1,824,885 shares of the company’s stock valued at $139,536,000 after purchasing an additional 236,504 shares in the last quarter. Finally, Mystic Asset Management Inc. purchased a new stake in Sysco during the fourth quarter valued at $786,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Activity

In other news, EVP Greg D. Bertrand sold 48,027 shares of the firm’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 sale, the executive vice president now directly owns 56,304 shares in the company, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on SYY. Guggenheim reissued a “buy” rating and issued a $85.00 target price on shares of Sysco in a research note on Wednesday, January 29th. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 5th. Melius Research raised shares of Sysco to a “hold” rating in a research note on Wednesday, December 18th. Morgan Stanley reduced their target price on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company increased their target price on shares of Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and a consensus target price of $84.77.

Sysco Stock Down 0.6 %

Shares of Sysco stock opened at $74.25 on Wednesday. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.33. The firm’s 50-day moving average is $73.27 and its two-hundred day moving average is $75.46. The stock has a market cap of $36.33 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 1.88 and a beta of 1.11.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter in the previous year, the business posted $0.89 EPS. As a group, research analysts expect that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Friday, April 4th. Sysco’s dividend payout ratio is currently 52.44%.

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.