Sysco Co. (NYSE:SYY) Shares Sold by Scotia Capital Inc.

Scotia Capital Inc. cut its stake in shares of Sysco Co. (NYSE:SYY - Free Report) by 33.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 39,059 shares of the company's stock after selling 19,910 shares during the quarter. Scotia Capital Inc.'s holdings in Sysco were worth $2,987,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of SYY. Fortem Financial Group LLC boosted its holdings in Sysco by 3.6% in the fourth quarter. Fortem Financial Group LLC now owns 3,875 shares of the company's stock valued at $296,000 after purchasing an additional 136 shares in the last quarter. MV Capital Management Inc. grew its position in shares of Sysco by 0.4% in the 4th quarter. MV Capital Management Inc. now owns 34,330 shares of the company's stock valued at $2,625,000 after buying an additional 144 shares during the last quarter. Morton Community Bank lifted its position in Sysco by 0.4% in the fourth quarter. Morton Community Bank now owns 40,585 shares of the company's stock valued at $3,103,000 after acquiring an additional 145 shares during the last quarter. Nemes Rush Group LLC grew its holdings in shares of Sysco by 5.9% during the fourth quarter. Nemes Rush Group LLC now owns 2,631 shares of the company's stock worth $201,000 after purchasing an additional 147 shares during the last quarter. Finally, SRS Capital Advisors Inc. increased its position in shares of Sysco by 53.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock worth $33,000 after purchasing an additional 149 shares in the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on SYY shares. StockNews.com lowered Sysco from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. Barclays decreased their price target on shares of Sysco from $93.00 to $85.00 and set an "overweight" rating for the company in a research note on Wednesday, January 29th. JPMorgan Chase & Co. dropped their price objective 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. Wells Fargo & Company increased their target price on shares of Sysco from $82.00 to $87.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Finally, Truist Financial dropped their price target on Sysco from $85.00 to $83.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $84.77.

Sysco Price Performance

SYY stock traded up $1.02 on Friday, reaching $71.71. 2,762,479 shares of the company's stock were exchanged, compared to its average volume of 3,331,978. The firm has a market cap of $35.08 billion, a PE ratio of 18.43, a P/E/G ratio of 1.88 and a beta of 0.91. Sysco Co. has a twelve month low of $67.12 and a twelve month high of $82.23. The stock has a fifty day moving average of $72.64 and a 200-day moving average of $74.60. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, hitting the consensus estimate 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 posted $0.89 EPS. As a group, equities analysts predict that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The firm 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 $0.51 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.84%. Sysco's payout ratio is 52.44%.

About Sysco

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.