Natixis Advisors LLC lowered its stake in Sysco Corporation (NYSE:SYY – Free Report) by 9.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 446,467 shares of the company’s stock after selling 48,359 shares during the quarter. Natixis Advisors LLC’s holdings in Sysco were worth $32,900,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of the stock. AXQ Capital LP boosted its position in shares of Sysco by 63.9% in the fourth quarter. AXQ Capital LP now owns 27,948 shares of the company’s stock worth $2,059,000 after buying an additional 10,898 shares during the period. One Capital Management LLC acquired a new stake in shares of Sysco in the fourth quarter worth $244,000. BNP Paribas acquired a new stake in shares of Sysco in the fourth quarter worth $673,000. Peapack Gladstone Financial Corp boosted its position in shares of Sysco by 2.4% in the fourth quarter. Peapack Gladstone Financial Corp now owns 240,491 shares of the company’s stock worth $17,722,000 after buying an additional 5,577 shares during the period. Finally, Consolidated Capital Management LLC acquired a new stake in shares of Sysco in the fourth quarter worth $4,442,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.
Sysco Stock Performance
Shares of NYSE SYY opened at $74.31 on Friday. The business’s 50-day moving average price is $74.58 and its two-hundred day moving average price is $78.11. The company has a debt-to-equity ratio of 5.58, a current ratio of 1.33 and a quick ratio of 0.80. Sysco Corporation has a one year low of $68.19 and a one year high of $91.85. The company has a market capitalization of $35.53 billion, a P/E ratio of 20.58, a price-to-earnings-growth ratio of 3.07 and a beta of 0.65.
Sysco Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Thursday, July 2nd will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 3.0%. This is an increase from Sysco’s previous quarterly dividend of $0.54. The ex-dividend date is Thursday, July 2nd. Sysco’s dividend payout ratio is presently 59.83%.
Insider Buying and Selling
In other news, Director John M. Hinshaw bought 13,304 shares of the stock in a transaction on Tuesday, May 26th. The shares were purchased at an average price of $75.17 per share, for a total transaction of $1,000,061.68. Following the completion of the purchase, the director directly owned 40,200 shares of the company’s stock, valued at $3,021,834. This trade represents a 49.46% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.56% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Several brokerages have recently commented on SYY. Sanford C. Bernstein decreased their target price on Sysco from $90.00 to $85.00 and set a “market perform” rating for the company in a research report on Wednesday, April 29th. Piper Sandler decreased their target price on Sysco from $83.00 to $77.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Weiss Ratings cut Sysco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, March 30th. Barclays decreased their target price on Sysco from $92.00 to $86.00 and set an “overweight” rating for the company in a research report on Wednesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft cut Sysco from a “buy” rating to a “hold” rating and set a $84.00 target price for the company. in a research report on Tuesday, April 28th. Nine research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $88.15.
Get Our Latest Report on Sysco
Sysco Company Profile
Sysco Corporation (NYSE: SYY) is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.
Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.
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