Yacktman Asset Management LP Has $103.86 Million Position in Sysco Co. (NYSE:SYY)

Yacktman Asset Management LP decreased its holdings in shares of Sysco Co. (NYSE:SYY) by 1.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,358,379 shares of the company’s stock after selling 13,517 shares during the period. Yacktman Asset Management LP’s holdings in Sysco were worth $103,862,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Armstrong Advisory Group Inc. grew its position in shares of Sysco by 1,240.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after buying an additional 310 shares during the period. Ashton Thomas Securities LLC bought a new position in Sysco during the third quarter worth $26,000. Stonebridge Financial Group LLC acquired a new stake in Sysco in the fourth quarter worth $31,000. Valley Wealth Managers Inc. bought a new stake in Sysco in the third quarter valued at $31,000. Finally, Focused Wealth Management Inc acquired a new position in shares of Sysco during the third quarter valued at about $37,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SYY shares. UBS Group decreased their target price on Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Wells Fargo & Company lowered their target price on Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Guggenheim reissued a “buy” rating and issued a $85.00 price target on shares of Sysco in a research report on Wednesday, January 29th. Truist Financial lowered their price objective on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Finally, Melius started coverage on shares of Sysco in a report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price objective for the company. Four research 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $84.38.

Insiders Place Their Bets

In related news, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total value of $216,427.00. Following the sale, the director now owns 12,955 shares of the company’s stock, valued at approximately $966,831.65. The trade was a 18.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction on 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 transaction, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 79,270 shares of company stock valued at $6,181,946. Company insiders own 0.54% of the company’s stock.

Sysco Price Performance

Sysco stock opened at $70.07 on Tuesday. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.33. The company’s 50 day moving average price is $75.78 and its two-hundred day moving average price is $75.96. The stock has a market cap of $34.28 billion, a P/E ratio of 18.01, a P/E/G ratio of 1.88 and a beta of 1.17. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting 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 quarter last year, the company earned $0.89 EPS. On average, equities analysts predict that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, January 3rd were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.04 annualized dividend and a yield of 2.91%. Sysco’s payout ratio is currently 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.