Sysco Co. (NYSE:SYY) Shares Sold by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. reduced its position in Sysco Co. (NYSE:SYY) by 8.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,197,746 shares of the company’s stock after selling 194,614 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Sysco were worth $160,721,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Chicago Partners Investment Group LLC boosted its holdings in Sysco by 1.8% in the fourth quarter. Chicago Partners Investment Group LLC now owns 7,150 shares of the company’s stock valued at $536,000 after purchasing an additional 124 shares in the last quarter. Hunter Associates Investment Management LLC lifted its stake in Sysco by 1.5% in the fourth quarter. Hunter Associates Investment Management LLC now owns 8,275 shares of the company’s stock valued at $606,000 after buying an additional 125 shares during the last quarter. Bell Investment Advisors Inc lifted its stake in Sysco by 8.2% in the fourth quarter. Bell Investment Advisors Inc now owns 1,722 shares of the company’s stock valued at $126,000 after buying an additional 131 shares during the last quarter. Beacon Investment Advisors LLC lifted its stake in Sysco by 0.5% in the fourth quarter. Beacon Investment Advisors LLC now owns 24,680 shares of the company’s stock valued at $1,805,000 after buying an additional 133 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. raised its stake in shares of Sysco by 6.4% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 2,246 shares of the company’s stock worth $165,000 after purchasing an additional 135 shares during the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Price Performance

SYY stock traded down $0.35 during trading on Friday, hitting $70.69. The company had a trading volume of 2,201,537 shares, compared to its average volume of 3,069,767. The company has a fifty day moving average price of $74.59 and a two-hundred day moving average price of $76.42. The company has a current ratio of 1.34, a quick ratio of 0.77 and a debt-to-equity ratio of 5.77. The company has a market cap of $35.20 billion, a P/E ratio of 17.24, a P/E/G ratio of 2.03 and a beta of 1.17. Sysco Co. has a fifty-two week low of $62.24 and a fifty-two week high of $82.89.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. Sysco had a return on equity of 99.88% and a net margin of 2.66%. The company had revenue of $19.38 billion for the quarter, compared to analyst estimates of $19.74 billion. During the same quarter in the previous year, the firm earned $0.90 earnings per share. The business’s revenue was up 2.7% on a year-over-year basis. Equities research analysts expect that Sysco Co. will post 4.3 earnings per share for the current fiscal year.

Sysco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be issued a $0.51 dividend. This is an increase from Sysco’s previous quarterly dividend of $0.50. This represents a $2.04 annualized dividend and a dividend yield of 2.89%. The ex-dividend date is Friday, July 5th. Sysco’s dividend payout ratio is 48.78%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. UBS Group cut their price target on Sysco from $92.00 to $87.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft lowered their target price on Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Piper Sandler decreased their price objective on Sysco from $83.00 to $79.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. JPMorgan Chase & Co. reduced their target price on Sysco from $87.00 to $85.00 and set an “overweight” rating on the stock in a research report on Thursday, May 23rd. Finally, Morgan Stanley dropped their target price on shares of Sysco from $84.00 to $82.00 and set an “equal weight” rating for the company in a research report on Thursday, May 23rd. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.10.

About Sysco

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.