Sysco Co. (NYSE:SYY) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA lessened its stake in shares of Sysco Co. (NYSE:SYY - Free Report) by 9.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,337,229 shares of the company's stock after selling 459,210 shares during the period. Primecap Management Co. CA owned approximately 0.89% of Sysco worth $331,625,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. State Street Corp lifted its stake in shares of Sysco by 11.1% during the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company's stock worth $2,130,617,000 after acquiring an additional 2,721,449 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of Sysco during the third quarter valued at $137,900,000. Mondrian Investment Partners LTD bought a new position in shares of Sysco in the fourth quarter worth about $123,928,000. Raymond James Financial Inc. purchased a new position in Sysco in the 4th quarter worth about $97,078,000. Finally, Nordea Investment Management AB lifted its holdings in Sysco by 52.3% during the 4th quarter. Nordea Investment Management AB now owns 2,719,478 shares of the company's stock valued at $208,666,000 after buying an additional 933,327 shares in the last quarter. Hedge funds and other institutional investors own 83.41% of the company's stock.

Insider Buying and Selling at Sysco

In other news, EVP Greg D. Bertrand sold 48,027 shares of the business's 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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.54% of the stock is currently owned by company insiders.

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Sysco Stock Down 0.1 %

Shares of SYY traded down $0.08 during midday trading on Friday, hitting $71.12. 4,897,434 shares of the company's stock traded hands, compared to its average volume of 3,129,882. 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 stock has a market capitalization of $34.79 billion, a price-to-earnings ratio of 18.28, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.33. The firm's fifty day moving average is $73.15 and its 200-day moving average is $75.41.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting 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 previous year, the firm earned $0.89 earnings per share. As a group, sell-side analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend is Friday, April 4th. Sysco's dividend payout ratio is presently 52.44%.

Analyst Ratings Changes

SYY has been the topic of a number of research reports. Jefferies Financial Group raised their target price on shares of Sysco from $91.00 to $95.00 and gave the stock a "buy" rating in a research report on Monday, December 16th. Truist Financial reduced their price objective on Sysco from $85.00 to $83.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Morgan Stanley dropped their price target on Sysco from $79.00 to $77.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 29th. Guggenheim restated a "buy" rating and issued a $85.00 price objective on shares of Sysco in a report on Wednesday, January 29th. Finally, Wells Fargo & Company upped their price objective on shares of Sysco from $82.00 to $87.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $84.77.

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.