Norinchukin Bank The trimmed its holdings in shares of Sysco Co. (NYSE:SYY – Get Rating) by 0.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,775 shares of the company’s stock after selling 190 shares during the period. Norinchukin Bank The’s holdings in Sysco were worth $3,439,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC bought a new stake in shares of Sysco during the 4th quarter worth $25,000. Allegheny Financial Group LTD bought a new stake in shares of Sysco during the 4th quarter worth $31,000. Bell Investment Advisors Inc bought a new stake in shares of Sysco during the 3rd quarter worth $36,000. Atticus Wealth Management LLC bought a new stake in shares of Sysco during the 4th quarter worth $39,000. Finally, Lloyd Advisory Services LLC. purchased a new stake in Sysco in the 4th quarter worth about $58,000. Institutional investors own 80.64% of the company’s stock.
SYY stock opened at $84.73 on Friday. Sysco Co. has a fifty-two week low of $68.05 and a fifty-two week high of $91.53. The business’s 50-day moving average is $83.48 and its two-hundred day moving average is $80.05. The company has a debt-to-equity ratio of 8.03, a quick ratio of 0.78 and a current ratio of 1.24. The company has a market cap of $43.44 billion, a price-to-earnings ratio of 43.68, a P/E/G ratio of 2.38 and a beta of 1.14.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 22nd. Investors of record on Friday, July 1st will be paid a dividend of $0.49 per share. This is a positive change from Sysco’s previous quarterly dividend of $0.47. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Thursday, June 30th. Sysco’s dividend payout ratio (DPR) is currently 96.91%.
In other Sysco news, CAO Anita A. Zielinski sold 7,221 shares of the business’s stock in a transaction dated Wednesday, February 16th. The shares were sold at an average price of $85.00, for a total value of $613,785.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Greg D. Bertrand sold 75,526 shares of the company’s stock in a transaction dated Wednesday, February 16th. The shares were sold at an average price of $85.43, for a total transaction of $6,452,186.18. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 221,427 shares of company stock valued at $19,220,747. 0.31% of the stock is currently owned by corporate insiders.
Several equities research analysts recently weighed in on the company. Piper Sandler lifted their price objective on Sysco from $83.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, April 8th. CL King initiated coverage on Sysco in a report on Friday, March 11th. They issued a “neutral” rating for the company. Truist Financial initiated coverage on Sysco in a report on Tuesday, February 1st. They set a “buy” rating and a $89.00 target price for the company. Argus raised Sysco from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a report on Tuesday, February 22nd. Finally, Barclays lifted their target price on Sysco from $90.00 to $100.00 and gave the company an “overweight” rating in a report on Monday, April 25th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $92.89.
About Sysco (Get Rating)
Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products primarily 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.
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