Parsons Capital Management Inc. RI Sells 625 Shares of Sysco Co. (NYSE:SYY)

Parsons Capital Management Inc. RI lowered its position in Sysco Co. (NYSE:SYY) by 2.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 23,495 shares of the company’s stock after selling 625 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Sysco were worth $1,796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. State Street Corp raised its stake in Sysco by 11.1% in the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after buying an additional 2,721,449 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in Sysco during the 3rd quarter valued at $137,900,000. Nordea Investment Management AB lifted its stake in shares of Sysco by 52.3% during the 4th quarter. Nordea Investment Management AB now owns 2,719,478 shares of the company’s stock worth $208,666,000 after buying an additional 933,327 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in shares of Sysco by 11.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after buying an additional 672,940 shares during the period. Finally, Worldquant Millennium Advisors LLC bought a new position in Sysco in the 3rd quarter valued at about $44,722,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Stock Performance

Shares of NYSE:SYY opened at $76.83 on Tuesday. The company’s 50 day simple moving average is $76.45 and its 200 day simple moving average is $75.99. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.89. The stock has a market capitalization of $37.74 billion, a price-to-earnings ratio of 19.75, a price-to-earnings-growth ratio of 2.04 and a beta of 1.18.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.04). The business had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.07 EPS. As a group, research analysts predict that Sysco Co. will post 4.57 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, January 3rd were paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.66%. The ex-dividend date was Friday, January 3rd. Sysco’s payout ratio is 52.44%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SYY shares. Melius assumed coverage on Sysco in a report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price objective for the company. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research note on Monday. Morgan Stanley lowered their price objective on Sysco from $82.00 to $79.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. Melius Research raised shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. Finally, Wells Fargo & Company lowered their price target on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $85.79.

Insider Transactions at Sysco

In related news, SVP Eve M. Mcfadden sold 6,499 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $519,920.00. Following the completion of the transaction, the senior vice president now directly owns 48,451 shares in the company, valued at $3,876,080. This represents a 11.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 56,304 shares in the company, valued at $4,335,408. This represents a 46.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 83,306 shares of company stock valued at $6,485,050. 0.54% of the stock is currently owned by insiders.

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.