Guggenheim Capital LLC reduced its stake in SYSCO Co. (NYSE:SYY) by 9.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,244,649 shares of the company’s stock after selling 124,390 shares during the period. Guggenheim Capital LLC owned 0.24% of SYSCO worth $75,587,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in SYY. Valeo Financial Advisors LLC increased its stake in shares of SYSCO by 98.7% during the fourth quarter. Valeo Financial Advisors LLC now owns 2,267 shares of the company’s stock valued at $138,000 after purchasing an additional 1,126 shares in the last quarter. Advisors Asset Management Inc. increased its stake in shares of SYSCO by 465.7% during the third quarter. Advisors Asset Management Inc. now owns 2,783 shares of the company’s stock valued at $150,000 after purchasing an additional 2,291 shares in the last quarter. Thompson Siegel & Walmsley LLC increased its stake in shares of SYSCO by 51.9% during the third quarter. Thompson Siegel & Walmsley LLC now owns 2,926 shares of the company’s stock valued at $158,000 after purchasing an additional 1,000 shares in the last quarter. Trustcore Financial Services LLC bought a new position in shares of SYSCO during the fourth quarter valued at approximately $194,000. Finally, Scott & Selber Inc. bought a new position in shares of SYSCO during the fourth quarter valued at approximately $200,000. 79.05% of the stock is owned by institutional investors.
SYSCO Co. (NYSE SYY) opened at $61.28 on Monday. The firm has a market cap of $31,983.18, a price-to-earnings ratio of 23.30, a PEG ratio of 2.06 and a beta of 0.60. SYSCO Co. has a one year low of $48.85 and a one year high of $64.27. The company has a debt-to-equity ratio of 3.66, a quick ratio of 0.85 and a current ratio of 1.38.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 27th. Stockholders of record on Friday, April 6th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Thursday, April 5th. SYSCO’s dividend payout ratio is presently 64.29%.
A number of equities analysts have weighed in on the stock. Bank of America raised their target price on shares of SYSCO from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Loop Capital decreased their target price on shares of SYSCO from $72.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. Pivotal Research reduced their price target on shares of SYSCO from $68.00 to $61.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. Royal Bank of Canada reissued a “sector perform” rating and set a $61.00 price target on shares of SYSCO in a research report on Tuesday, February 6th. Finally, BMO Capital Markets set a $74.00 price target on shares of SYSCO and gave the company a “buy” rating in a research report on Monday, February 5th. Six investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $65.20.
In related news, SVP Greg D. Bertrand sold 81,038 shares of SYSCO stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $60.76, for a total transaction of $4,923,868.88. Following the transaction, the senior vice president now owns 69,721 shares in the company, valued at approximately $4,236,247.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP William W. Goetz sold 11,323 shares of SYSCO stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $62.00, for a total transaction of $702,026.00. Following the transaction, the senior vice president now owns 35,825 shares in the company, valued at approximately $2,221,150. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 136,895 shares of company stock worth $8,335,371. 9.60% of the stock is owned by corporate insiders.
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Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.
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