Sysco Co. (NYSE:SYY) Position Cut by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. reduced its holdings in shares of Sysco Co. (NYSE:SYY - Free Report) by 43.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,359 shares of the company's stock after selling 6,548 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in Sysco were worth $639,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Stonebridge Financial Group LLC acquired a new stake in Sysco in the 4th quarter valued at $31,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Sysco in the fourth quarter worth about $31,000. Sherman Asset Management Inc. acquired a new stake in shares of Sysco in the fourth quarter valued at about $31,000. SRS Capital Advisors Inc. raised its holdings in shares of Sysco by 53.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock valued at $33,000 after buying an additional 149 shares during the period. Finally, HHM Wealth Advisors LLC lifted its position in Sysco by 107.4% during the 4th quarter. HHM Wealth Advisors LLC now owns 620 shares of the company's stock worth $47,000 after acquiring an additional 321 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company's stock.

Sysco Stock Performance

Sysco stock traded down $1.05 during mid-day trading on Tuesday, reaching $70.38. The company's stock had a trading volume of 3,403,212 shares, compared to its average volume of 3,137,520. The firm has a market cap of $34.43 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 1.88 and a beta of 1.11. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.33. The business has a 50 day moving average price of $72.98 and a 200-day moving average price of $75.21. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66.

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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 net margin of 2.40% and a return on equity of 106.30%. During the same period last year, the firm posted $0.89 earnings per share. Sell-side analysts predict that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.90%. Sysco's payout ratio is currently 52.44%.

Wall Street Analysts Forecast Growth

SYY has been the topic of a number of analyst reports. Truist Financial dropped their price objective on shares of Sysco from $85.00 to $83.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. JPMorgan Chase & Co. dropped their price target on shares of Sysco from $86.00 to $82.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 4th. Guggenheim reissued a "buy" rating and issued a $85.00 price objective on shares of Sysco in a research report on Wednesday, January 29th. Wells Fargo & Company boosted 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. Finally, StockNews.com lowered Sysco from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $84.77.

Insiders Place Their Bets

In other news, EVP Greg D. Bertrand sold 48,027 shares of the company's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the transaction, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.54% of the stock is owned by corporate insiders.

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.