Xponance Inc. Cuts Holdings in Sysco Co. (NYSE:SYY)

Xponance Inc. cut its position in shares of Sysco Co. (NYSE:SYY) by 2.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 116,773 shares of the company’s stock after selling 3,046 shares during the quarter. Xponance Inc.’s holdings in Sysco were worth $8,540,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Wealthfront Advisers LLC raised its position in Sysco by 263.4% in the third quarter. Wealthfront Advisers LLC now owns 34,007 shares of the company’s stock worth $2,246,000 after acquiring an additional 24,650 shares during the period. Professional Advisory Services Inc. bought a new stake in Sysco in the fourth quarter worth about $20,057,000. Harbour Trust & Investment Management Co bought a new stake in shares of Sysco in the fourth quarter valued at approximately $4,623,000. Pacer Advisors Inc. raised its position in shares of Sysco by 40.1% in the fourth quarter. Pacer Advisors Inc. now owns 82,239 shares of the company’s stock valued at $6,014,000 after purchasing an additional 23,558 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Sysco by 16.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 298,982 shares of the company’s stock valued at $21,865,000 after purchasing an additional 41,618 shares during the period. Institutional investors own 83.41% of the company’s stock.

Insider Activity

In other news, CAO Neil Russell sold 1,722 shares of the company’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total value of $137,760.00. Following the completion of the sale, the chief accounting officer now owns 24,082 shares of the company’s stock, valued at approximately $1,926,560. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.58% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SYY shares. Stephens boosted their price target on shares of Sysco from $80.00 to $90.00 and gave the company an “overweight” 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 report on Thursday, February 1st. BMO Capital Markets boosted 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. Barclays boosted their price target on shares of Sysco from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. Finally, JPMorgan Chase & Co. boosted their price objective 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 analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and a consensus price target of $85.38.

Sysco Price Performance

SYY stock opened at $76.73 on Friday. 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 Co. has a one year low of $62.24 and a one year high of $82.89. The stock has a market cap of $38.20 billion, a PE ratio of 18.76, a P/E/G ratio of 1.54 and a beta of 1.15. The firm has a 50 day simple moving average of $79.39 and a two-hundred day simple moving average of $74.32.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, January 30th. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Sysco had a net margin of 2.69% and a return on equity of 105.22%. The business had revenue of $19.29 billion during the quarter, compared to analysts’ expectations of $19.32 billion. During the same quarter in the previous year, the company earned $0.80 EPS. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, analysts predict that Sysco Co. will post 4.3 EPS for the current fiscal year.

Sysco Announces Dividend

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 paid a $0.50 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.61%. Sysco’s dividend payout ratio (DPR) is 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.