Nicollet Investment Management Inc. Has $2.32 Million Position in Sysco Co. (NYSE:SYY)

Nicollet Investment Management Inc. cut its stake in Sysco Co. (NYSE:SYY) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,376 shares of the company’s stock after selling 364 shares during the quarter. Nicollet Investment Management Inc.’s holdings in Sysco were worth $2,323,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Stonebridge Financial Group LLC acquired a new position in Sysco in the 4th quarter worth about $31,000. Flagship Wealth Advisors LLC acquired a new stake in Sysco in the fourth quarter valued at approximately $31,000. Sherman Asset Management Inc. bought a new stake in Sysco in the fourth quarter worth approximately $31,000. SRS Capital Advisors Inc. increased its stake in shares of Sysco by 53.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after purchasing an additional 149 shares during the last quarter. Finally, HHM Wealth Advisors LLC raised its holdings in shares of Sysco by 107.4% during the 4th quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock valued at $47,000 after purchasing an additional 321 shares in the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the sale, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.54% of the stock is currently owned by corporate insiders.

Sysco Stock Up 1.4 %

SYY stock opened at $75.10 on Tuesday. The business’s 50-day simple moving average is $73.03 and its 200 day simple moving average is $75.11. 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 company has a market cap of $36.74 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.23.

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

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s payout ratio is presently 52.44%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Barclays lowered their target price on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Morgan Stanley lowered their price objective on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Melius started coverage on Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 target price for the company. Wells Fargo & Company increased their price target on Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Finally, Melius Research upgraded shares of Sysco to a “hold” rating in a research note on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.77.

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.