Tucker Asset Management LLC Cuts Position in Sysco Co. (NYSE:SYY)

Tucker Asset Management LLC lowered its position in shares of Sysco Co. (NYSE:SYY) by 21.5% in the fourth quarter, Holdings Channel reports. The firm owned 2,398 shares of the company’s stock after selling 658 shares during the period. Tucker Asset Management LLC’s holdings in Sysco were worth $183,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Buckley Wealth Management LLC raised its stake in shares of Sysco by 0.8% in the 4th quarter. Buckley Wealth Management LLC now owns 18,188 shares of the company’s stock valued at $1,391,000 after acquiring an additional 150 shares during the period. WR Wealth Planners LLC raised its position in Sysco by 9.9% in the fourth quarter. WR Wealth Planners LLC now owns 4,270 shares of the company’s stock valued at $326,000 after purchasing an additional 386 shares during the period. Captrust Financial Advisors boosted its position in shares of Sysco by 7.7% in the third quarter. Captrust Financial Advisors now owns 124,341 shares of the company’s stock worth $9,706,000 after buying an additional 8,891 shares during the period. Clark & Stuart Inc acquired a new position in Sysco during the 4th quarter worth approximately $7,613,000. Finally, Kovitz Investment Group Partners LLC grew its holdings in Sysco by 76.0% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 135,362 shares of the company’s stock valued at $10,256,000 after purchasing an additional 58,430 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

Shares of SYY stock opened at $74.10 on Friday. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.23. The company has a market capitalization of $36.25 billion, a P/E ratio of 19.05, a P/E/G ratio of 1.88 and a beta of 1.11. The stock has a 50 day moving average of $72.99 and a two-hundred day moving average of $75.15. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY) last announced its quarterly 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 last year, the firm posted $0.89 EPS. As a group, equities analysts expect that Sysco Co. will post 4.58 EPS for the current year.

Sysco Announces Dividend

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 issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s payout ratio is 52.44%.

Insider Activity

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction on Thursday, January 2nd. The stock was 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 $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 can be accessed through this link. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SYY shares. UBS Group cut their target price on shares of Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Wells Fargo & Company increased their price target on Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. reduced their price objective on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Truist Financial dropped their price target on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Finally, Barclays decreased their price objective on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $84.77.

About Sysco

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.