Pitcairn Co. Sells 1,919 Shares of Sysco Co. (NYSE:SYY)

Pitcairn Co. lessened its position in Sysco Co. (NYSE:SYY) by 4.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,997 shares of the company’s stock after selling 1,919 shares during the period. Pitcairn Co.’s holdings in Sysco were worth $2,905,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Boston Partners increased its position in Sysco by 143.7% during the fourth quarter. Boston Partners now owns 12,184,114 shares of the company’s stock worth $930,296,000 after buying an additional 7,184,754 shares during the last quarter. Norges Bank acquired a new position in shares of Sysco during the 4th quarter worth approximately $450,441,000. State Street Corp raised its stake in Sysco by 11.1% in the 3rd 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. Mondrian Investment Partners LTD acquired a new stake in Sysco during the 4th quarter valued at $123,928,000. Finally, Raymond James Financial Inc. bought a new position in Sysco during the fourth quarter worth $97,078,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SYY has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their price objective on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Wells Fargo & Company upped their price objective on Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. UBS Group lowered their price objective on Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Morgan Stanley reduced their target price on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Finally, Melius Research raised shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $84.77.

Sysco Stock Down 0.2 %

Shares of NYSE:SYY opened at $75.28 on Thursday. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.23. The company has a market capitalization of $36.83 billion, a PE ratio of 19.35, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. The company has a fifty day moving average of $73.11 and a 200-day moving average of $75.10.

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

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.71%. Sysco’s dividend payout ratio (DPR) is 52.44%.

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.