Sysco Co. (NYSE:SYY) Stake Cut by Boyd Watterson Asset Management LLC OH

Boyd Watterson Asset Management LLC OH reduced its holdings in Sysco Co. (NYSE:SYY) by 11.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,335 shares of the company’s stock after selling 300 shares during the period. Boyd Watterson Asset Management LLC OH’s holdings in Sysco were worth $171,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SYY. Trian Fund Management L.P. purchased a new stake in Sysco in the 3rd quarter worth about $80,812,000. Invesco Ltd. increased its position in Sysco by 11.0% in the 3rd quarter. Invesco Ltd. now owns 10,859,690 shares of the company’s stock worth $717,283,000 after purchasing an additional 1,076,287 shares during the last quarter. Acadian Asset Management LLC increased its position in Sysco by 1,591.5% in the 3rd quarter. Acadian Asset Management LLC now owns 764,235 shares of the company’s stock worth $50,462,000 after purchasing an additional 719,054 shares during the last quarter. Becker Capital Management Inc. increased its position in Sysco by 3,671.0% in the 3rd quarter. Becker Capital Management Inc. now owns 470,888 shares of the company’s stock worth $31,102,000 after purchasing an additional 458,401 shares during the last quarter. Finally, Vaughan David Investments LLC IL acquired a new position in Sysco in the 4th quarter worth about $32,976,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Price Performance

Shares of SYY stock remained flat at $77.07 during mid-day trading on Friday. The company’s stock had a trading volume of 2,072,280 shares, compared to its average volume of 2,339,761. The company has a 50 day moving average of $79.16 and a 200 day moving average of $74.78. The company has a current ratio of 1.37, a quick ratio of 0.80 and a debt-to-equity ratio of 5.00. Sysco Co. has a 52 week low of $62.24 and a 52 week high of $82.89. The company has a market capitalization of $38.37 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 1.57 and a beta of 1.15.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, January 30th. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Sysco had a return on equity of 105.22% and a net margin of 2.69%. The company had revenue of $19.29 billion during the quarter, compared to the consensus estimate of $19.32 billion. During the same quarter last year, the company earned $0.80 EPS. The company’s quarterly revenue was up 3.7% on a year-over-year basis. Sell-side analysts forecast that Sysco Co. will post 4.3 earnings per share for the current fiscal year.

Sysco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Friday, July 5th. This is an increase from Sysco’s previous quarterly dividend of $0.50. Sysco’s dividend payout ratio (DPR) is 48.90%.

Wall Street Analyst Weigh In

SYY has been the topic of several research reports. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. upped their target price on Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Stephens increased their price objective on Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. Barclays increased their price objective on Sysco from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. Finally, BMO Capital Markets increased their price objective on Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $85.38.

Insider Buying and Selling

In related news, CAO Neil Russell sold 1,722 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total transaction of $137,760.00. Following the completion of the transaction, the chief accounting officer now owns 24,082 shares in the company, valued at approximately $1,926,560. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.58% of the stock is owned by corporate insiders.

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.