Sysco Co. (NYSE:SYY) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lessened its stake in shares of Sysco Co. (NYSE:SYY) by 7.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,081,727 shares of the company’s stock after selling 84,073 shares during the period. Pictet Asset Management Holding SA owned 0.22% of Sysco worth $82,709,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Stonebridge Financial Group LLC acquired a new position in shares of Sysco during the fourth quarter valued at approximately $31,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Sysco during the fourth quarter worth approximately $31,000. Sherman Asset Management Inc. acquired a new position in Sysco in the 4th quarter valued at $31,000. SRS Capital Advisors Inc. lifted its holdings in Sysco by 53.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after purchasing an additional 149 shares in the last quarter. Finally, HHM Wealth Advisors LLC boosted its stake in Sysco by 107.4% during the 4th quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock worth $47,000 after purchasing an additional 321 shares during the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the sale, the executive vice president now owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.54% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SYY shares. Guggenheim reiterated a “buy” rating and issued a $85.00 target price on shares of Sysco in a research report on Wednesday, January 29th. Jefferies Financial Group raised their target price on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Morgan Stanley dropped their price target on Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. JPMorgan Chase & Co. reduced their price objective on Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Finally, Wells Fargo & Company upped their target price on Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.77.

Sysco Trading Up 0.1 %

NYSE SYY opened at $74.10 on Friday. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The stock has a market capitalization of $36.25 billion, a P/E ratio of 19.05, a PEG ratio of 1.88 and a beta of 1.11. The firm’s 50-day moving average is $72.99 and its two-hundred day moving average is $75.13. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.23.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting 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 company posted $0.89 EPS. On average, sell-side analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.75%. Sysco’s dividend payout ratio is presently 52.44%.

Sysco 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.