SouthState Corp Sells 408 Shares of Sysco Co. (NYSE:SYY)

SouthState Corp lowered its stake in Sysco Co. (NYSE:SYY) by 23.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,310 shares of the company’s stock after selling 408 shares during the quarter. SouthState Corp’s holdings in Sysco were worth $100,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in SYY. New England Asset Management Inc. grew its holdings in shares of Sysco by 12.7% in the third quarter. New England Asset Management Inc. now owns 131,360 shares of the company’s stock worth $10,254,000 after acquiring an additional 14,810 shares during the period. Buckley Wealth Management LLC grew its stake in shares of Sysco by 0.8% during the 4th quarter. Buckley Wealth Management LLC now owns 18,188 shares of the company’s stock valued at $1,391,000 after purchasing an additional 150 shares during the period. WR Wealth Planners LLC increased its position in shares of Sysco by 9.9% during the 4th quarter. WR Wealth Planners LLC now owns 4,270 shares of the company’s stock valued at $326,000 after purchasing an additional 386 shares during the last quarter. Captrust Financial Advisors lifted its stake in shares of Sysco by 7.7% in the 3rd quarter. Captrust Financial Advisors now owns 124,341 shares of the company’s stock worth $9,706,000 after purchasing an additional 8,891 shares during the period. Finally, Clark & Stuart Inc purchased a new position in shares of Sysco in the fourth quarter worth approximately $7,613,000. Institutional investors own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SYY shares. UBS Group decreased their price target on shares of Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Guggenheim reaffirmed a “buy” rating and issued a $85.00 target price on shares of Sysco in a report on Wednesday, January 29th. Barclays cut their price target on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Melius Research raised Sysco to a “hold” rating in a research note on Wednesday, December 18th. Finally, 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, January 29th. Four investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and an average price target of $84.77.

Insider Buying and Selling at Sysco

In related news, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the transaction, the executive vice president now owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.54% of the stock is owned by company insiders.

Sysco Stock Up 2.1 %

SYY opened at $74.78 on Tuesday. The company has a market capitalization of $36.58 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. The firm has a 50-day simple moving average of $73.28 and a two-hundred day simple moving average of $75.49. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.33.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting 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 firm earned $0.89 earnings per share. Analysts forecast that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s payout ratio is 52.44%.

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.