Banco Bilbao Vizcaya Argentaria S.A. reduced its position in shares of Sysco Co. (NYSE:SYY - Free Report) by 6.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 59,706 shares of the company's stock after selling 4,244 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Sysco were worth $4,565,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Morse Asset Management Inc bought a new position in shares of Sysco in the 3rd quarter worth approximately $390,000. Barclays PLC lifted its position in shares of Sysco by 43.2% during the 3rd quarter. Barclays PLC now owns 1,715,356 shares of the company's stock valued at $133,902,000 after buying an additional 517,219 shares in the last quarter. SkyView Investment Advisors LLC grew its stake in shares of Sysco by 5.5% during the 3rd quarter. SkyView Investment Advisors LLC now owns 8,509 shares of the company's stock valued at $664,000 after acquiring an additional 445 shares during the period. World Investment Advisors LLC purchased a new stake in Sysco in the 3rd quarter worth approximately $610,000. Finally, Wilmington Savings Fund Society FSB raised its stake in Sysco by 13.5% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 209,456 shares of the company's stock worth $16,350,000 after acquiring an additional 24,866 shares during the period. Institutional investors own 83.41% of the company's stock.
Sysco Trading Down 0.4 %
Shares of NYSE SYY traded down $0.25 during trading hours on Tuesday, hitting $70.17. 5,940,198 shares of the company traded hands, compared to its average volume of 3,380,250. The stock has a market capitalization of $34.33 billion, a price-to-earnings ratio of 18.04, a price-to-earnings-growth ratio of 1.88 and a beta of 0.91. The company's 50 day moving average price is $72.79 and its 200 day moving average price is $74.41. Sysco Co. has a 12 month low of $66.14 and a 12 month high of $82.23. 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 - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.06). Sysco had a net margin of 2.40% and a return on equity of 106.30%. The firm had revenue of $19.60 billion during the quarter, compared to analysts' expectations of $20.11 billion. During the same period in the prior year, the company posted $0.96 EPS. The company's revenue was up 1.1% compared to the same quarter last year. On average, equities research analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current fiscal year.
Sysco Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be paid a dividend of $0.54 per share. This is a positive change from Sysco's previous quarterly dividend of $0.51. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date is Thursday, July 3rd. Sysco's dividend payout ratio (DPR) is currently 55.53%.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the stock. Morgan Stanley reduced their price objective on shares of Sysco from $79.00 to $77.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 29th. StockNews.com downgraded Sysco from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. Truist Financial dropped 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. Guggenheim reissued a "buy" rating and set a $85.00 target price on shares of Sysco in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company upped their price target on Sysco from $82.00 to $87.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $85.07.
Check Out Our Latest Analysis on SYY
About Sysco
(
Free Report)
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.
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