Diamond Hill Capital Management Inc. Grows Stock Position in Sysco Co. (NYSE:SYY)

Diamond Hill Capital Management Inc. boosted its holdings in shares of Sysco Co. (NYSE:SYY - Free Report) by 7.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,206,978 shares of the company's stock after purchasing an additional 521,431 shares during the quarter. Sysco makes up approximately 2.4% of Diamond Hill Capital Management Inc.'s holdings, making the stock its 8th largest holding. Diamond Hill Capital Management Inc. owned about 1.47% of Sysco worth $551,046,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Assetmark Inc. grew its position in shares of Sysco by 18.6% in the 3rd quarter. Assetmark Inc. now owns 1,230 shares of the company's stock worth $96,000 after acquiring an additional 193 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Sysco in the 3rd quarter worth approximately $26,000. Harbour Investments Inc. grew its position in shares of Sysco by 23.6% in the 3rd quarter. Harbour Investments Inc. now owns 7,419 shares of the company's stock worth $579,000 after acquiring an additional 1,416 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd acquired a new position in shares of Sysco in the 3rd quarter worth approximately $227,000. Finally, Aptus Capital Advisors LLC boosted its position in Sysco by 4.1% during the 3rd quarter. Aptus Capital Advisors LLC now owns 4,806 shares of the company's stock valued at $375,000 after purchasing an additional 190 shares during the period. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

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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 value 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 the SEC website. 0.54% of the stock is currently owned by insiders.

Sysco Stock Performance

Sysco stock traded down $0.48 during trading hours on Tuesday, hitting $74.25. The stock had a trading volume of 1,950,625 shares, compared to its average volume of 3,097,761. The company has a 50-day moving average of $73.28 and a two-hundred day 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. The company has a market cap of $36.33 billion, a PE ratio of 19.09, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.33.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting the consensus estimate 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 business posted $0.89 earnings per share. On average, equities research analysts anticipate that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be issued a $0.51 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.75%. Sysco's payout ratio is presently 52.44%.

Wall Street Analyst Weigh In

SYY has been the subject of a number of analyst reports. Guggenheim restated a "buy" rating and set a $85.00 price objective on shares of Sysco in a research report on Wednesday, January 29th. JPMorgan Chase & Co. cut their target price on Sysco from $86.00 to $82.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 4th. StockNews.com raised Sysco from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, March 5th. Wells Fargo & Company boosted their target price on Sysco from $82.00 to $87.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Finally, Truist Financial lowered their price target on Sysco from $85.00 to $83.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $84.77.

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.