American Century Companies Inc. Sells 834,104 Shares of Sysco Co. (NYSE:SYY)

American Century Companies Inc. cut its position in Sysco Co. (NYSE:SYY - Free Report) by 46.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 974,541 shares of the company's stock after selling 834,104 shares during the quarter. American Century Companies Inc. owned 0.20% of Sysco worth $74,513,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisors Asset Management Inc. acquired a new position in Sysco in the 3rd quarter valued at approximately $464,000. Cerity Partners LLC increased its holdings in Sysco by 4.5% in the third quarter. Cerity Partners LLC now owns 174,343 shares of the company's stock valued at $13,609,000 after purchasing an additional 7,430 shares during the period. Larson Financial Group LLC raised its position in Sysco by 84.5% during the 3rd quarter. Larson Financial Group LLC now owns 2,234 shares of the company's stock worth $174,000 after purchasing an additional 1,023 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in Sysco by 11.7% during the 3rd quarter. Daiwa Securities Group Inc. now owns 60,557 shares of the company's stock worth $4,727,000 after buying an additional 6,360 shares during the period. Finally, Independent Advisor Alliance grew its position in shares of Sysco by 1.1% in the 3rd quarter. Independent Advisor Alliance now owns 19,331 shares of the company's stock valued at $1,509,000 after buying an additional 201 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors.

Insider Activity at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of Sysco 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 directly owns 56,304 shares of the company's stock, valued at $4,335,408. The trade was a 46.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.54% of the stock is owned by insiders.

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Analyst Ratings Changes

A number of equities analysts recently commented on the company. Melius Research raised Sysco to a "hold" rating in a research note on Wednesday, December 18th. Wells Fargo & Company upped their price objective on shares of Sysco from $82.00 to $87.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. UBS Group lowered their target price on shares of Sysco from $87.00 to $86.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Jefferies Financial Group upped their price target on shares of Sysco from $91.00 to $95.00 and gave the company a "buy" rating in a research report on Monday, December 16th. Finally, Truist Financial lowered their price objective on Sysco from $85.00 to $83.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $84.77.

Sysco Stock Up 0.1 %

NYSE SYY traded up $0.06 during mid-day trading on Friday, hitting $74.10. The company's stock had a trading volume of 2,140,455 shares, compared to its average volume of 3,277,624. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The company's 50 day simple moving average is $72.99 and its 200 day simple moving average is $75.13. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.23. The firm has a market capitalization of $36.25 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 1.88 and a beta of 1.11.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting 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 quarter in the previous year, the company earned $0.89 earnings per share. Analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be issued a $0.51 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.75%. Sysco's dividend payout ratio is presently 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.