Prudential Financial Inc. Lowers Stock Position in Sysco Co. (NYSE:SYY)

Prudential Financial Inc. lowered its stake in shares of Sysco Co. (NYSE:SYY - Free Report) by 12.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 261,344 shares of the company's stock after selling 36,679 shares during the quarter. Prudential Financial Inc. owned about 0.05% of Sysco worth $19,982,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SYY. Fortem Financial Group LLC increased its position in shares of Sysco by 3.6% in the fourth quarter. Fortem Financial Group LLC now owns 3,875 shares of the company's stock worth $296,000 after purchasing an additional 136 shares during the period. Morton Community Bank grew its stake in Sysco by 0.4% during the fourth quarter. Morton Community Bank now owns 40,585 shares of the company's stock worth $3,103,000 after buying an additional 145 shares in the last quarter. SRS Capital Advisors Inc. increased its holdings in Sysco by 53.0% in 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. S.A. Mason LLC raised its position in shares of Sysco by 10.7% in the 4th quarter. S.A. Mason LLC now owns 1,546 shares of the company's stock valued at $118,000 after buying an additional 150 shares in the last quarter. Finally, HM Payson & Co. lifted its holdings in shares of Sysco by 0.8% during the 4th quarter. HM Payson & Co. now owns 19,160 shares of the company's stock worth $1,465,000 after acquiring an additional 150 shares during the period. Institutional investors own 83.41% of the company's stock.

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Sysco Trading Up 0.1 %

Sysco stock traded up $0.06 during trading hours on Friday, reaching $74.10. 2,140,455 shares of the company's stock were exchanged, compared to its average volume of 3,277,624. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.23. 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 firm's 50 day simple moving average is $72.99 and its 200 day simple moving average is $75.13. The firm has a market capitalization of $36.25 billion, a PE ratio of 19.05, a PEG ratio of 1.88 and a beta of 1.11.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings results 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 return on equity of 106.30% and a net margin of 2.40%. During the same quarter in the previous year, the business posted $0.89 EPS. Research analysts predict that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Truist Financial cut their target price 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. lowered their price objective on shares of Sysco from $86.00 to $82.00 and set an "overweight" rating for the company in a research report on Tuesday, February 4th. StockNews.com lowered shares of Sysco from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. Morgan Stanley lowered their price target on shares of Sysco from $79.00 to $77.00 and set an "equal weight" rating for the company in a report on Wednesday, January 29th. Finally, UBS Group reduced their price objective on Sysco from $87.00 to $86.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $84.77.

Insider Transactions at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the company's stock in a transaction on 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 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 filing with the SEC, which is accessible through this hyperlink. 0.54% of the stock is owned by insiders.

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.