Sysco Co. (NYSE:SYY) Shares Sold by Summit Global Investments

Summit Global Investments reduced its holdings in shares of Sysco Co. (NYSE:SYY) by 22.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 56,986 shares of the company’s stock after selling 16,487 shares during the quarter. Summit Global Investments’ holdings in Sysco were worth $4,357,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in SYY. Stonebridge Financial Group LLC acquired a new position in shares of Sysco during the 4th quarter worth about $31,000. Sherman Asset Management Inc. acquired a new position in shares of Sysco during the 4th quarter worth about $31,000. Flagship Wealth Advisors LLC acquired a new position in shares of Sysco during the 4th quarter worth about $31,000. SRS Capital Advisors Inc. boosted its position in shares of Sysco by 53.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after acquiring an additional 149 shares in the last quarter. Finally, HHM Wealth Advisors LLC boosted its position in shares of Sysco by 107.4% during the 4th quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock worth $47,000 after acquiring an additional 321 shares in the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Sysco

In other news, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This represents a 46.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. UBS Group decreased their target price on Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Truist Financial decreased their target price on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. JPMorgan Chase & Co. decreased their target price on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Morgan Stanley decreased their target price on Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. Finally, Barclays decreased their target price on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $84.77.

Sysco Stock Down 0.1 %

Sysco stock opened at $71.12 on Friday. The stock has a market capitalization of $34.79 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 1.88 and a beta of 1.11. The stock has a 50 day moving average of $73.10 and a two-hundred day moving average of $75.36. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.33. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting 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 in the prior year, the business posted $0.89 earnings per share. As a group, research analysts expect that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders 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 dividend yield of 2.87%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s dividend payout ratio (DPR) is 52.44%.

Sysco Company 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.