Forsta AP Fonden Trims Stake in Sysco Co. (NYSE:SYY)

Forsta AP Fonden cut its stake in Sysco Co. (NYSE:SYY - Free Report) by 16.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 165,500 shares of the company's stock after selling 33,100 shares during the period. Forsta AP Fonden's holdings in Sysco were worth $12,654,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Public Sector Pension Investment Board increased its position in Sysco by 87.2% during the 2nd quarter. Public Sector Pension Investment Board now owns 19,187 shares of the company's stock valued at $1,370,000 after buying an additional 8,940 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Sysco by 58.2% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 63,387 shares of the company's stock worth $4,525,000 after purchasing an additional 23,321 shares during the last quarter. Quarry LP raised its holdings in Sysco by 260.7% in the second quarter. Quarry LP now owns 1,248 shares of the company's stock worth $89,000 after buying an additional 902 shares during the last quarter. EP Wealth Advisors LLC lifted its position in Sysco by 18.8% in the 2nd quarter. EP Wealth Advisors LLC now owns 9,926 shares of the company's stock valued at $709,000 after acquiring an additional 1,570 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in Sysco by 2.7% during the 2nd quarter. Cetera Investment Advisers now owns 292,770 shares of the company's stock valued at $20,901,000 after purchasing an additional 7,758 shares during the last quarter. 83.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. 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. StockNews.com downgraded shares of Sysco from a "strong-buy" rating to a "buy" rating in a report on Monday. Wells Fargo & Company decreased their price objective on shares of Sysco from $87.00 to $82.00 and set an "overweight" rating for the company in a report on Wednesday, October 30th. Barclays dropped their target price on shares of Sysco from $93.00 to $85.00 and set an "overweight" rating on the stock in a report on Wednesday. Finally, Melius Research upgraded shares of Sysco to a "hold" rating in a research note on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $85.21.

Sysco Stock Performance

Shares of SYY stock traded up $0.49 during trading hours on Thursday, reaching $72.41. 812,908 shares of the company traded hands, compared to its average volume of 3,296,244. The firm has a 50-day moving average price of $76.40 and a 200 day moving average price of $76.00. The company has a market cap of $35.57 billion, a P/E ratio of 18.61, a P/E/G ratio of 2.04 and a beta of 1.18. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.89.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. Sysco had a net margin of 2.44% and a return on equity of 101.04%. During the same quarter in the prior year, the company earned $0.89 EPS. As a group, sell-side analysts predict that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 3rd were given a $0.51 dividend. The ex-dividend date was Friday, January 3rd. This represents a $2.04 annualized dividend and a dividend yield of 2.82%. Sysco's payout ratio is 52.44%.

Insider Transactions at Sysco

In other news, SVP Eve M. Mcfadden sold 4,036 shares of the firm's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the completion of the transaction, the senior vice president now owns 48,451 shares in the company, valued at $3,638,670.10. This trade represents a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Greg D. Bertrand sold 48,027 shares of the business's 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 sale, the executive vice president now owns 56,304 shares in the company, valued at $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 83,306 shares of company stock valued at $6,485,050 over the last 90 days. Company insiders own 0.54% of the company's stock.

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.