Field & Main Bank Sells 170 Shares of Sysco Co. (NYSE:SYY)

Field & Main Bank lessened its holdings in shares of Sysco Co. (NYSE:SYY) by 2.6% during the 4th quarter, HoldingsChannel reports. The fund owned 6,380 shares of the company’s stock after selling 170 shares during the quarter. Field & Main Bank’s holdings in Sysco were worth $488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Sysco Price Performance

Shares of SYY traded down $0.04 during trading hours on Wednesday, reaching $72.24. The company had a trading volume of 507,436 shares, compared to its average volume of 3,021,207. The company has a market capitalization of $35.49 billion, a price-to-earnings ratio of 18.66, a PEG ratio of 2.04 and a beta of 1.18. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.89. The firm has a 50 day simple moving average of $76.43 and a 200-day simple moving average of $76.03. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. Sysco had a return on equity of 101.04% and a net margin of 2.44%. During the same period in the prior year, the company posted $0.89 earnings per share. Research analysts expect that Sysco Co. will post 4.57 earnings per share for the current 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 given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date was Friday, January 3rd. Sysco’s payout ratio is currently 52.44%.

Insider Buying and Selling

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 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 approximately $4,335,408. The trade was a 46.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Eve M. Mcfadden sold 6,499 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total transaction of $519,920.00. Following the transaction, the senior vice president now directly owns 48,451 shares in the company, valued at approximately $3,876,080. The trade was a 11.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 83,306 shares of company stock worth $6,485,050. 0.54% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SYY. Wells Fargo & Company cut their price target on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday. Truist Financial cut their price objective on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday. UBS Group reduced their target price on shares of Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Melius Research raised shares of Sysco to a “hold” rating in a research note on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Sysco has an average rating of “Moderate Buy” and a consensus price target of $85.36.

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.