Sysco Co. (NYSE:SYY) Shares Sold by GEM Asset Management LLC

GEM Asset Management LLC cut its position in Sysco Co. (NYSE:SYY) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 437,246 shares of the company’s stock after selling 3,270 shares during the period. Sysco accounts for about 18.6% of GEM Asset Management LLC’s investment portfolio, making the stock its biggest position. GEM Asset Management LLC owned 0.09% of Sysco worth $33,432,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SYY. AMF Tjanstepension AB lifted its position in Sysco by 185.5% during the 3rd quarter. AMF Tjanstepension AB now owns 31,332 shares of the company’s stock worth $2,446,000 after buying an additional 20,356 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Sysco by 455.8% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,024 shares of the company’s stock worth $314,000 after purchasing an additional 3,300 shares in the last quarter. Valeo Financial Advisors LLC grew its stake in shares of Sysco by 19.5% during the third quarter. Valeo Financial Advisors LLC now owns 5,272 shares of the company’s stock valued at $412,000 after purchasing an additional 860 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Sysco by 147.4% in the third quarter. Exchange Traded Concepts LLC now owns 20,533 shares of the company’s stock valued at $1,603,000 after purchasing an additional 12,235 shares in the last quarter. Finally, Koshinski Asset Management Inc. raised its position in Sysco by 3.1% in the 3rd quarter. Koshinski Asset Management Inc. now owns 4,913 shares of the company’s stock worth $383,000 after purchasing an additional 146 shares during the last quarter. 83.41% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Sheila Talton sold 2,900 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total transaction of $216,427.00. Following the sale, the director now directly owns 12,955 shares in the company, valued at $966,831.65. This trade represents a 18.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Greg D. Bertrand sold 48,027 shares of the company’s 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 of the company’s stock, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,270 shares of company stock worth $6,181,946. Company insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on SYY shares. UBS Group decreased their price objective on Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Barclays decreased their price target on Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Wells Fargo & Company dropped their price objective on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Morgan Stanley lowered their price target on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. cut 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 equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $84.38.

Sysco Trading Up 0.5 %

Shares of NYSE SYY opened at $70.57 on Wednesday. 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 Co. has a twelve month low of $69.03 and a twelve month high of $82.33. The company’s fifty day moving average is $75.65 and its 200-day moving average is $75.94. The stock has a market cap of $34.53 billion, a price-to-earnings ratio of 18.14, 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 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 period in the previous year, the business earned $0.89 earnings per share. Equities research analysts predict that Sysco Co. will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, January 3rd were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a yield of 2.89%. Sysco’s payout ratio is 52.44%.

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.