Massachusetts Financial Services Co. MA Sells 5,459 Shares of Sysco Co. (NYSE:SYY)

Massachusetts Financial Services Co. MA cut its stake in Sysco Co. (NYSE:SYY - Free Report) by 0.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,761,126 shares of the company's stock after selling 5,459 shares during the period. Massachusetts Financial Services Co. MA owned 0.36% of Sysco worth $134,656,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Meeder Advisory Services Inc. increased its position in Sysco by 22.9% during the 4th quarter. Meeder Advisory Services Inc. now owns 11,725 shares of the company's stock valued at $896,000 after buying an additional 2,181 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Sysco by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 11,868,965 shares of the company's stock worth $905,120,000 after purchasing an additional 233,885 shares during the last quarter. Nemes Rush Group LLC boosted its stake in Sysco by 5.9% in the 4th quarter. Nemes Rush Group LLC now owns 2,631 shares of the company's stock worth $201,000 after purchasing an additional 147 shares in the last quarter. Tradewinds LLC. grew its position in Sysco by 6.7% during the 4th quarter. Tradewinds LLC. now owns 4,405 shares of the company's stock valued at $311,000 after purchasing an additional 276 shares during the last quarter. Finally, HighPoint Advisor Group LLC raised its holdings in Sysco by 2.1% in the fourth quarter. HighPoint Advisor Group LLC now owns 10,096 shares of the company's stock worth $712,000 after buying an additional 210 shares during the last quarter. 83.41% of the stock is owned by institutional investors.

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Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Truist Financial reduced their price target on shares of Sysco from $85.00 to $83.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. UBS Group lowered their price target on Sysco from $87.00 to $86.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Melius began coverage on Sysco in a report on Wednesday, December 18th. They issued a "hold" rating and a $85.00 price objective for the company. Melius Research upgraded shares of Sysco to a "hold" rating in a research note on Wednesday, December 18th. Finally, Jefferies Financial Group lifted their price target on shares of Sysco from $91.00 to $95.00 and gave the stock a "buy" rating in a research note on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $84.77.

Sysco Stock Performance

Shares of SYY stock traded down $1.91 during trading hours on Thursday, reaching $69.17. 907,348 shares of the company traded hands, compared to its average volume of 3,306,130. The firm has a 50-day moving average price of $72.68 and a 200 day moving average price of $74.85. The company has a market cap of $33.84 billion, a P/E ratio of 17.77, a P/E/G ratio of 1.88 and a beta of 0.91. Sysco Co. has a 12-month low of $67.12 and a 12-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.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period in the previous year, the firm earned $0.89 earnings per share. As a group, sell-side analysts predict that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be paid a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend is Friday, April 4th. Sysco's dividend payout ratio (DPR) is presently 52.44%.

Sysco Company 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.