State of Alaska Department of Revenue Has $4.28 Million Stock Holdings in Sysco Co. (NYSE:SYY)

State of Alaska Department of Revenue reduced its stake in shares of Sysco Co. (NYSE:SYY - Free Report) by 9.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,014 shares of the company's stock after selling 5,533 shares during the quarter. State of Alaska Department of Revenue's holdings in Sysco were worth $4,282,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Armstrong Advisory Group Inc. grew its holdings in shares of Sysco by 1,240.0% during the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company's stock worth $26,000 after purchasing an additional 310 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in Sysco in the third quarter valued at about $26,000. Valley Wealth Managers Inc. bought a new position in Sysco in the third quarter valued at about $31,000. Focused Wealth Management Inc bought a new position in Sysco in the third quarter valued at about $37,000. Finally, Canoe Financial LP bought a new position in Sysco in the third quarter valued at about $38,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SYY shares. Wells Fargo & Company decreased their price target on Sysco from $87.00 to $82.00 and set an "overweight" rating on the stock in a report on Wednesday, October 30th. Truist Financial decreased their price target on Sysco from $85.00 to $83.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. JPMorgan Chase & Co. decreased their price target on Sysco from $86.00 to $82.00 and set an "overweight" rating on the stock in a report on Tuesday, February 4th. Melius Research raised Sysco to a "hold" rating in a research report on Wednesday, December 18th. Finally, Barclays dropped their price target on Sysco from $93.00 to $85.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $84.38.

Sysco Stock Down 0.5 %

Shares of NYSE:SYY traded down $0.38 during trading on Wednesday, hitting $70.16. 2,549,868 shares of the company were exchanged, compared to its average volume of 3,538,545. The stock has a market cap of $34.32 billion, a price-to-earnings ratio of 18.04, a P/E/G ratio of 1.88 and a beta of 1.17. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.33. The firm has a fifty day moving average price of $75.47 and a two-hundred day moving average price of $75.93. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY - Get Free Report) last issued its 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 in the prior year, the company posted $0.89 earnings per share. As a group, research analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 3rd were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.04 annualized dividend and a dividend yield of 2.91%. Sysco's dividend payout ratio is currently 52.44%.

Insider Transactions at Sysco

In related news, Director Sheila Talton sold 2,900 shares of the business's stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total value of $216,427.00. Following the completion of the sale, the director now directly owns 12,955 shares in the company, valued at $966,831.65. The trade was a 18.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Eve M. Mcfadden sold 6,499 shares of the business's stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $519,920.00. Following the completion of the sale, the senior vice president now owns 48,451 shares of the company's stock, valued at $3,876,080. This trade represents a 11.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 79,270 shares of company stock worth $6,181,946. 0.54% of the stock is owned by company insiders.

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.