Lbp Am Sa Acquires New Holdings in Sysco Co. (NYSE:SYY)

LBP AM SA purchased a new stake in shares of Sysco Co. (NYSE:SYY - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 71,409 shares of the company's stock, valued at approximately $5,460,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of SYY. State Street Corp lifted its holdings in shares of Sysco by 11.1% during the 3rd 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 period. Massachusetts Financial Services Co. MA purchased a new stake in shares of Sysco in the 3rd quarter worth $137,900,000. Mondrian Investment Partners LTD purchased a new stake in shares of Sysco in the 4th quarter worth $123,928,000. Raymond James Financial Inc. purchased a new stake in shares of Sysco in the 4th quarter worth $97,078,000. Finally, Nordea Investment Management AB increased its stake in shares of Sysco by 52.3% in the 4th quarter. Nordea Investment Management AB now owns 2,719,478 shares of the company's stock worth $208,666,000 after purchasing an additional 933,327 shares in the last quarter. 83.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SYY. UBS Group reduced their price objective on Sysco from $87.00 to $86.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Truist Financial reduced 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. JPMorgan Chase & Co. reduced their price objective on Sysco from $86.00 to $82.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. Guggenheim restated a "buy" rating and issued a $85.00 price objective on shares of Sysco in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company increased 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 investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Sysco presently has an average rating of "Moderate Buy" and a consensus price target of $84.77.

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Insider Activity at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were 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 of the company's stock, valued at $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.54% of the stock is owned by insiders.

Sysco Price Performance

Shares of Sysco stock traded down $2.06 during trading on Wednesday, reaching $72.30. 5,902,631 shares of the stock traded hands, compared to its average volume of 3,108,002. The company has a market capitalization of $35.37 billion, a price-to-earnings ratio of 18.59, a P/E/G ratio of 1.88 and a beta of 1.11. The business has a fifty day simple moving average of $73.27 and a two-hundred day simple moving average of $75.46. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.33.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting 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 last year, the business earned $0.89 earnings per share. Sell-side analysts expect that Sysco Co. will post 4.58 EPS for the current year.

Sysco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend is Friday, April 4th. 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.