Aviva PLC Lowers Position in Sysco Co. (NYSE:SYY)

Aviva PLC lowered its stake in shares of Sysco Co. (NYSE:SYY - Free Report) by 44.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 296,023 shares of the company's stock after selling 236,316 shares during the period. Aviva PLC owned approximately 0.06% of Sysco worth $22,634,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Buckley Wealth Management LLC boosted its position in shares of Sysco by 0.8% during the fourth quarter. Buckley Wealth Management LLC now owns 18,188 shares of the company's stock worth $1,391,000 after buying an additional 150 shares during the period. WR Wealth Planners LLC boosted its holdings in 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 acquiring an additional 386 shares during the period. Clark & Stuart Inc acquired a new position in Sysco in the 4th quarter valued at about $7,613,000. Kovitz Investment Group Partners LLC increased its stake in Sysco by 76.0% during the third quarter. Kovitz Investment Group Partners LLC now owns 135,362 shares of the company's stock worth $10,256,000 after purchasing an additional 58,430 shares during the period. Finally, Boston Trust Walden Corp lifted its position in shares of Sysco by 179.5% during the fourth quarter. Boston Trust Walden Corp now owns 804,345 shares of the company's stock worth $61,500,000 after purchasing an additional 516,585 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on SYY shares. Wells Fargo & Company lifted their price objective on shares of Sysco from $82.00 to $87.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Truist Financial cut their price objective on Sysco from $85.00 to $83.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. StockNews.com lowered Sysco from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 20th. Guggenheim reaffirmed a "buy" rating and issued a $85.00 price target on shares of Sysco in a research report on Wednesday, January 29th. Finally, Jefferies Financial Group boosted their price objective on Sysco from $91.00 to $95.00 and gave the stock a "buy" rating in a research report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Sysco presently has an average rating of "Moderate Buy" and an average price target of $84.77.

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Sysco Stock Up 1.0 %

Shares of Sysco stock traded up $0.70 during trading hours on Friday, hitting $70.38. The company had a trading volume of 705,406 shares, compared to its average volume of 3,314,286. The company's 50-day moving average is $72.63 and its two-hundred day moving average is $74.80. Sysco Co. has a twelve month low of $67.12 and a twelve month high of $82.23. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The company has a market cap of $34.43 billion, a P/E ratio of 18.09, a price-to-earnings-growth ratio of 1.88 and a beta of 0.91.

Sysco (NYSE:SYY - Get Free Report) last posted its earnings results on Tuesday, January 28th. The company reported $0.93 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 previous year, the company earned $0.89 EPS. Analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be given a dividend of $0.51 per share. The ex-dividend date is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.90%. Sysco's payout ratio is 52.44%.

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.