Sysco Co. (NYSE:SYY) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lessened its stake in Sysco Co. (NYSE:SYY) by 25.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,486,790 shares of the company’s stock after selling 496,540 shares during the period. Envestnet Asset Management Inc.’s holdings in Sysco were worth $113,680,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Buckley Wealth Management LLC boosted its position in Sysco by 0.8% in the 4th quarter. Buckley Wealth Management LLC now owns 18,188 shares of the company’s stock worth $1,391,000 after purchasing an additional 150 shares in the last quarter. WR Wealth Planners LLC boosted its holdings in Sysco by 9.9% during the fourth quarter. WR Wealth Planners LLC now owns 4,270 shares of the company’s stock worth $326,000 after buying an additional 386 shares in the last quarter. Clark & Stuart Inc acquired a new stake in Sysco during the fourth quarter valued at $7,613,000. Boston Trust Walden Corp increased its holdings in Sysco by 179.5% in the fourth quarter. Boston Trust Walden Corp now owns 804,345 shares of the company’s stock valued at $61,500,000 after buying an additional 516,585 shares in the last quarter. Finally, Lmcg Investments LLC acquired a new position in shares of Sysco in the fourth quarter worth about $3,668,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

SYY has been the topic of a number of analyst reports. Morgan Stanley dropped their target price on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Jefferies Financial Group raised their price objective on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 16th. JPMorgan Chase & Co. reduced their target price on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Guggenheim reiterated a “buy” rating and set a $85.00 target price on shares of Sysco in a research report on Wednesday, January 29th. Finally, Melius Research raised shares of Sysco to a “hold” rating in a report on Wednesday, December 18th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $84.77.

Sysco Price Performance

Sysco stock opened at $69.40 on Tuesday. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The company has a 50-day moving average price of $72.92 and a 200 day moving average price of $75.01. Sysco Co. has a 12-month low of $68.65 and a 12-month high of $82.23. The stock has a market cap of $33.95 billion, a P/E ratio of 17.84, a PEG ratio of 1.88 and a beta of 0.91.

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, hitting analysts’ consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter in the prior year, the company posted $0.89 earnings per share. Sell-side analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders 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 dividend yield of 2.94%. The ex-dividend date is Friday, April 4th. Sysco’s dividend payout ratio is presently 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.