Sysco Co. (NYSE:SYY) Shares Sold by Adams Diversified Equity Fund Inc.

Adams Diversified Equity Fund Inc. reduced its stake in shares of Sysco Co. (NYSE:SYY - Free Report) by 11.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 196,700 shares of the company's stock after selling 25,400 shares during the period. Adams Diversified Equity Fund Inc.'s holdings in Sysco were worth $15,040,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SYY. State Street Corp raised its position in shares of Sysco by 11.1% in the third quarter. State Street Corp now owns 27,294,612 shares of the company's stock valued at $2,130,617,000 after buying an additional 2,721,449 shares during the last quarter. Boston Partners grew its position in shares of Sysco by 143.7% in the fourth quarter. Boston Partners now owns 12,184,114 shares of the company's stock valued at $930,296,000 after purchasing an additional 7,184,754 shares during the period. Diamond Hill Capital Management Inc. increased its stake in Sysco by 7.8% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 7,206,978 shares of the company's stock valued at $551,046,000 after purchasing an additional 521,431 shares during the last quarter. Primecap Management Co. CA lifted its position in Sysco by 9.7% during the third quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company's stock worth $374,410,000 after buying an additional 422,954 shares during the period. Finally, Montrusco Bolton Investments Inc. boosted its stake in Sysco by 8.5% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company's stock worth $366,789,000 after buying an additional 375,409 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company's stock.

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Insider Buying and Selling at Sysco

In related news, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction dated Thursday, January 2nd. The stock was 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 directly owns 56,304 shares in the company, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.54% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SYY. Barclays cut their price objective on shares of Sysco from $93.00 to $85.00 and set an "overweight" rating on the stock in a report on Wednesday, January 29th. Guggenheim reaffirmed a "buy" rating and set a $85.00 price target on shares of Sysco in a research note on Wednesday, January 29th. Jefferies Financial Group boosted their price objective on shares of Sysco from $91.00 to $95.00 and gave the company a "buy" rating in a research note on Monday, December 16th. Truist Financial cut their target price on Sysco from $85.00 to $83.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Finally, StockNews.com downgraded Sysco from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Sysco has a consensus rating of "Moderate Buy" and an average target price of $84.77.

Sysco Stock Down 1.5 %

Shares of SYY traded down $1.05 during midday trading on Tuesday, reaching $70.38. 3,403,212 shares of the company were exchanged, compared to its average volume of 3,134,436. 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 Co. has a 1-year low of $69.03 and a 1-year high of $82.33. The company has a market cap of $34.43 billion, a price-to-earnings ratio of 18.09, a P/E/G ratio of 1.88 and a beta of 1.11. The stock has a 50-day moving average price of $73.05 and a 200-day moving average price of $75.26.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share 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 period in the previous year, the firm posted $0.89 earnings per share. Research analysts expect that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be issued a dividend of $0.51 per share. The ex-dividend date is Friday, April 4th. This represents a $2.04 annualized dividend and a yield of 2.90%. Sysco's dividend payout ratio is presently 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.