Sysco Co. (NYSE:SYY) Shares Sold by Swiss National Bank

Swiss National Bank trimmed its holdings in Sysco Co. (NYSE:SYY - Free Report) by 6.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,387,800 shares of the company's stock after selling 90,200 shares during the quarter. Swiss National Bank owned 0.28% of Sysco worth $106,111,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SYY. Ashton Thomas Securities LLC purchased a new stake in shares of Sysco in the third quarter worth about $26,000. Stonebridge Financial Group LLC acquired a new stake in shares of Sysco during the 4th quarter worth approximately $31,000. Valley Wealth Managers Inc. purchased a new position in shares of Sysco during the 3rd quarter valued at approximately $31,000. Sherman Asset Management Inc. acquired a new position in shares of Sysco in the 4th quarter valued at $31,000. Finally, SRS Capital Advisors Inc. lifted its stake in shares of 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 purchasing an additional 149 shares during the period. 83.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SYY shares. Truist Financial decreased their price objective on shares of Sysco from $85.00 to $83.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Jefferies Financial Group upped their price target on Sysco from $91.00 to $95.00 and gave the stock a "buy" rating in a report on Monday, December 16th. UBS Group dropped their price objective on Sysco from $87.00 to $86.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Wells Fargo & Company upped their target price on Sysco from $82.00 to $87.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Finally, Melius Research raised shares of Sysco to a "hold" rating in a research note on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Sysco has an average rating of "Moderate Buy" and a consensus target price of $84.77.

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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 stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the sale, the executive vice president now owns 56,304 shares in the company, valued at $4,335,408. The trade was a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.54% of the stock is currently owned by insiders.

Sysco Price Performance

Shares of Sysco stock traded down $2.06 on Wednesday, hitting $72.30. 5,902,352 shares of the company were exchanged, compared to its average volume of 3,108,002. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.33. 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 stock has a market capitalization of $35.37 billion, a price-to-earnings ratio of 18.59, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. The company has a 50-day moving average price of $73.27 and a 200 day moving average price of $75.46.

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

Sysco Dividend Announcement

The company 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 dividend of $0.51 per share. 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 2.82%. Sysco's dividend payout ratio is currently 52.44%.

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.