Sysco Co. (NYSE:SYY) Shares Sold by Clarkston Capital Partners LLC

Clarkston Capital Partners LLC lowered its stake in Sysco Co. (NYSE:SYY - Free Report) by 2.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,131,171 shares of the company's stock after selling 58,034 shares during the quarter. Sysco comprises about 3.1% of Clarkston Capital Partners LLC's portfolio, making the stock its 11th biggest holding. Clarkston Capital Partners LLC owned about 0.44% of Sysco worth $162,949,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Sysco by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 61,519,424 shares of the company's stock worth $4,703,775,000 after buying an additional 429,711 shares in the last quarter. Boston Partners grew its holdings in Sysco by 143.7% during the 4th quarter. Boston Partners now owns 12,184,114 shares of the company's stock worth $930,296,000 after acquiring an additional 7,184,754 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Sysco by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 11,868,965 shares of the company's stock valued at $905,120,000 after purchasing an additional 233,885 shares during the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of Sysco by 7.8% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 7,206,978 shares of the company's stock valued at $551,046,000 after purchasing an additional 521,431 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Sysco during the 4th quarter worth $450,441,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

SYY has been the topic of a number of analyst reports. Morgan Stanley cut their price target on Sysco from $79.00 to $77.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 29th. JPMorgan Chase & Co. cut their target price on Sysco from $86.00 to $82.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 4th. Wells Fargo & Company upped their price target on Sysco from $82.00 to $87.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Truist Financial cut their price objective on shares of Sysco from $85.00 to $83.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Finally, UBS Group dropped their target price on shares of Sysco from $87.00 to $86.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Sysco currently has an average rating of "Moderate Buy" and a consensus price target of $84.77.

Sysco Stock Performance

Shares of NYSE:SYY traded up $0.65 during trading on Friday, reaching $70.33. The company had a trading volume of 818,357 shares, compared to its average volume of 3,314,728. Sysco Co. has a fifty-two week low of $67.12 and a fifty-two week high of $82.23. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The stock's fifty day moving average price is $72.63 and its 200 day moving average price is $74.80. The firm has a market capitalization of $34.41 billion, a price-to-earnings ratio of 18.08, a price-to-earnings-growth ratio of 1.88 and a beta of 0.91.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share 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 period last year, the business posted $0.89 EPS. As a group, equities research analysts predict that Sysco Co. will post 4.58 EPS for the current year.

Sysco Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 2.90%. Sysco's dividend payout ratio is currently 52.44%.

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.