Mission Wealth Management LP Sells 420 Shares of Sysco Co. (NYSE:SYY)

Mission Wealth Management LP lessened its position in shares of Sysco Co. (NYSE:SYY) by 4.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,226 shares of the company’s stock after selling 420 shares during the quarter. Mission Wealth Management LP’s holdings in Sysco were worth $629,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of SYY. State Street Corp raised its stake in shares of Sysco by 11.1% during the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company’s stock worth $2,130,617,000 after acquiring an additional 2,721,449 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Sysco during the 3rd quarter worth approximately $137,900,000. Nordea Investment Management AB grew its position in Sysco by 52.3% during the 4th quarter. Nordea Investment Management AB now owns 2,719,478 shares of the company’s stock worth $208,666,000 after purchasing an additional 933,327 shares during the last quarter. Diamond Hill Capital Management Inc. grew its position in Sysco by 11.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after purchasing an additional 672,940 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC purchased a new stake in Sysco during the 3rd quarter worth approximately $44,722,000. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

SYY opened at $74.90 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. The firm has a fifty day moving average price of $73.58 and a 200 day moving average price of $75.63. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.33. The stock has a market cap of $36.64 billion, a P/E ratio of 19.25, a P/E/G ratio of 1.88 and a beta of 1.17.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting 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 period in the previous year, the company posted $0.89 earnings per share. Equities research analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date is Friday, April 4th. Sysco’s dividend payout ratio is presently 52.44%.

Analyst Ratings Changes

SYY has been the topic of several research analyst reports. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Melius initiated coverage on shares of Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 target price on the stock. Wells Fargo & Company boosted their target price on shares of Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Melius Research raised shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Sysco has a consensus rating of “Moderate Buy” and an average price target of $84.77.

Insiders Place Their Bets

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 56,304 shares in the company, valued at approximately $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.54% of the stock is currently owned by company insiders.

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.