Terra Alpha Investments LLC lowered its holdings in shares of Sysco Corporation (NYSE:SYY – Free Report) by 54.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,843 shares of the company’s stock after selling 10,595 shares during the period. Terra Alpha Investments LLC’s holdings in Sysco were worth $652,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Sysco by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 62,305,343 shares of the company’s stock worth $4,591,281,000 after buying an additional 814,270 shares in the last quarter. State Street Corp raised its holdings in shares of Sysco by 0.9% during the 3rd quarter. State Street Corp now owns 26,669,576 shares of the company’s stock worth $2,195,973,000 after buying an additional 246,542 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of Sysco by 0.3% during the 3rd quarter. Capital Research Global Investors now owns 18,360,707 shares of the company’s stock worth $1,511,821,000 after buying an additional 46,040 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Sysco by 3,977.1% during the 3rd quarter. Wellington Management Group LLP now owns 4,711,376 shares of the company’s stock worth $387,935,000 after buying an additional 4,595,819 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Sysco by 12.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,639,931 shares of the company’s stock worth $201,076,000 after buying an additional 283,706 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.
Sysco Trading Down 0.7%
NYSE SYY opened at $72.53 on Friday. The business’s 50-day moving average price is $76.97 and its two-hundred day moving average price is $78.02. Sysco Corporation has a 12 month low of $68.19 and a 12 month high of $91.85. The firm has a market capitalization of $34.68 billion, a PE ratio of 20.09, a price-to-earnings-growth ratio of 2.98 and a beta of 0.66. The company has a current ratio of 1.33, a quick ratio of 0.80 and a debt-to-equity ratio of 5.58.
Sysco Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Thursday, July 2nd will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Thursday, July 2nd. This is a positive change from Sysco’s previous quarterly dividend of $0.54. Sysco’s dividend payout ratio is currently 60.94%.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on SYY shares. Barclays lowered their price target on Sysco from $92.00 to $86.00 and set an “overweight” rating for the company in a report on Wednesday, April 29th. Sanford C. Bernstein lowered their price target on Sysco from $90.00 to $85.00 and set a “market perform” rating for the company in a report on Wednesday, April 29th. Piper Sandler reduced their price objective on Sysco from $83.00 to $77.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Jefferies Financial Group boosted their price objective on Sysco from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, January 28th. Finally, Deutsche Bank Aktiengesellschaft lowered Sysco from a “buy” rating to a “hold” rating and set a $84.00 price objective on the stock. in a research report on Tuesday, April 28th. Nine investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Sysco has an average rating of “Moderate Buy” and an average target price of $88.15.
View Our Latest Stock Report on SYY
Sysco 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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