DnB Asset Management AS Has $6.56 Million Stock Position in Sysco Co. (NYSE:SYY)

DnB Asset Management AS lifted its holdings in shares of Sysco Co. (NYSE:SYY) by 3.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 85,734 shares of the company’s stock after acquiring an additional 2,673 shares during the quarter. DnB Asset Management AS’s holdings in Sysco were worth $6,555,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SYY. Orion Portfolio Solutions LLC lifted its holdings in Sysco by 16.2% during the 4th quarter. Orion Portfolio Solutions LLC now owns 49,357 shares of the company’s stock worth $3,774,000 after buying an additional 6,868 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in shares of Sysco by 5.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 757,585 shares of the company’s stock worth $57,925,000 after acquiring an additional 42,207 shares during the period. Providence Capital Advisors LLC boosted its holdings in Sysco by 2.4% in the fourth quarter. Providence Capital Advisors LLC now owns 82,544 shares of the company’s stock valued at $6,311,000 after acquiring an additional 1,944 shares during the last quarter. Norges Bank acquired a new stake in Sysco during the 4th quarter valued at approximately $450,441,000. Finally, Loomis Sayles & Co. L P bought a new position in Sysco during the 4th quarter worth approximately $96,000. Institutional investors own 83.41% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Greg D. Bertrand sold 48,027 shares of the firm’s 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 transaction, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.54% of the company’s stock.

Sysco Stock Up 0.1 %

Sysco stock opened at $74.10 on Monday. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The firm’s fifty day moving average price is $72.99 and its two-hundred day moving average price is $75.12. The firm has a market capitalization of $36.25 billion, a price-to-earnings ratio of 19.05, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. Sysco Co. has a 1-year low of $69.03 and a 1-year 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 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 quarter last year, the company posted $0.89 earnings per share. On average, equities research analysts predict that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

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

Wall Street Analysts Forecast Growth

SYY has been the subject of several recent analyst reports. Morgan Stanley decreased their price objective 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. Barclays lowered their price objective on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Jefferies Financial Group raised their target price on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 20th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and an average price target of $84.77.

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.