Curi RMB Capital LLC Reduces Position in Sysco Co. (NYSE:SYY)

Curi RMB Capital LLC lessened its holdings in shares of Sysco Co. (NYSE:SYY - Free Report) by 63.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 50,148 shares of the company's stock after selling 85,369 shares during the quarter. Curi RMB Capital LLC's holdings in Sysco were worth $3,834,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. 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 valued at $930,296,000 after buying an additional 7,184,754 shares in the last quarter. Norges Bank bought a new stake in Sysco in the fourth quarter worth $450,441,000. Mondrian Investment Partners LTD bought a new stake in shares of Sysco in the 4th quarter worth about $123,928,000. Raymond James Financial Inc. purchased a new position in shares of Sysco during the fourth quarter valued at approximately $97,078,000. Finally, Nordea Investment Management AB boosted its stake in shares of Sysco by 52.3% during the fourth quarter. Nordea Investment Management AB now owns 2,719,478 shares of the company's stock valued at $208,666,000 after purchasing an additional 933,327 shares during the period. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Price Performance

NYSE SYY traded down $0.38 on Thursday, hitting $72.51. The company had a trading volume of 2,649,191 shares, compared to its average volume of 3,638,190. 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 company's fifty day moving average price is $72.75 and its 200-day moving average price is $74.48. The company has a market capitalization of $35.47 billion, a PE ratio of 18.64, a PEG ratio of 1.88 and a beta of 0.91. Sysco Co. has a 12-month low of $67.12 and a 12-month high of $82.23.

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

Sysco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 2.98%. This is a boost from Sysco's previous quarterly dividend of $0.51. Sysco's payout ratio is presently 52.44%.

Analyst Ratings Changes

SYY has been the subject of a number of research reports. Truist Financial lowered their price objective on shares of Sysco from $85.00 to $83.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Barclays raised their price objective on Sysco from $85.00 to $87.00 and gave the company an "overweight" rating in a research report on Tuesday. Morgan Stanley dropped their target price 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. Guggenheim restated a "buy" rating and set a $85.00 price target on shares of Sysco in a research note on Wednesday, January 29th. Finally, UBS Group reduced their price objective on Sysco from $87.00 to $86.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $84.92.

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.