Primecap Management Co. CA Has $331.63 Million Stock Position in Sysco Co. (NYSE:SYY)

Primecap Management Co. CA lowered its position in shares of Sysco Co. (NYSE:SYY) by 9.6% in the fourth quarter, HoldingsChannel reports. The firm owned 4,337,229 shares of the company’s stock after selling 459,210 shares during the period. Primecap Management Co. CA’s holdings in Sysco were worth $331,625,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in SYY. Fortem Financial Group LLC increased its position in Sysco by 3.6% in the 4th quarter. Fortem Financial Group LLC now owns 3,875 shares of the company’s stock valued at $296,000 after acquiring an additional 136 shares in the last quarter. Morton Community Bank increased its position in Sysco by 0.4% in the 4th quarter. Morton Community Bank now owns 40,585 shares of the company’s stock valued at $3,103,000 after acquiring an additional 145 shares in the last quarter. SRS Capital Advisors Inc. increased its position 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 acquiring an additional 149 shares in the last quarter. S.A. Mason LLC increased its position in Sysco by 10.7% in the 4th quarter. S.A. Mason LLC now owns 1,546 shares of the company’s stock valued at $118,000 after acquiring an additional 150 shares in the last quarter. Finally, HM Payson & Co. increased its position in Sysco by 0.8% in the 4th quarter. HM Payson & Co. now owns 19,160 shares of the company’s stock valued at $1,465,000 after acquiring an additional 150 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Melius assumed coverage on shares of Sysco in a research report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price objective for the company. Jefferies Financial Group raised their price objective on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Melius Research raised shares of Sysco to a “hold” rating in a research note on Wednesday, December 18th. Morgan Stanley reduced their target price on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 29th. Finally, Barclays reduced their target price on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $84.77.

Insider Activity

In other news, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the sale, the executive vice president now directly owns 56,304 shares in the company, valued at $4,335,408. The trade was a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.54% of the company’s stock.

Sysco Stock Up 2.1 %

Sysco stock opened at $74.78 on Tuesday. The company’s 50 day simple moving average is $73.28 and its 200 day simple moving average is $75.49. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.33. The firm has a market capitalization of $36.58 billion, a price-to-earnings ratio of 19.22, a PEG ratio of 1.88 and a beta of 1.11. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68.

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

Sysco Dividend Announcement

The company 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 $0.51 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.73%. Sysco’s dividend payout ratio (DPR) is 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.