Commerzbank Aktiengesellschaft FI Purchases 2,283 Shares of Sysco Co. (NYSE:SYY)

Commerzbank Aktiengesellschaft FI grew its position in shares of Sysco Co. (NYSE:SYY) by 75.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,309 shares of the company’s stock after purchasing an additional 2,283 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Sysco were worth $406,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SYY. Fortem Financial Group LLC grew its position in Sysco by 3.6% during the fourth quarter. Fortem Financial Group LLC now owns 3,875 shares of the company’s stock valued at $296,000 after acquiring an additional 136 shares during the last quarter. SRS Capital Advisors Inc. boosted 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 in the last quarter. S.A. Mason LLC grew its holdings in shares of Sysco by 10.7% during the 4th quarter. S.A. Mason LLC now owns 1,546 shares of the company’s stock valued at $118,000 after purchasing an additional 150 shares during the last quarter. Cable Hill Partners LLC raised its position in Sysco by 3.9% in the 3rd quarter. Cable Hill Partners LLC now owns 4,049 shares of the company’s stock worth $316,000 after purchasing an additional 152 shares during the period. Finally, Brooklyn Investment Group lifted its stake in Sysco by 12.3% in the fourth quarter. Brooklyn Investment Group now owns 1,410 shares of the company’s stock worth $108,000 after purchasing an additional 154 shares during the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.54% of the stock is currently owned by corporate insiders.

Sysco Price Performance

Shares of NYSE SYY opened at $74.48 on Thursday. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.33. The company’s 50-day moving average is $73.52 and its 200 day moving average is $75.62. The stock has a market capitalization of $36.44 billion, a P/E ratio of 19.15, a P/E/G ratio of 1.88 and a beta of 1.17.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share 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 quarter in the prior year, the business posted $0.89 EPS. On average, sell-side analysts expect that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.74%. Sysco’s payout ratio is 52.44%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SYY shares. Wells Fargo & Company raised their price objective on Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Barclays reduced their price target on Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Guggenheim reiterated a “buy” rating and issued a $85.00 price objective on shares of Sysco in a research report on Wednesday, January 29th. JPMorgan Chase & Co. cut their target price on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Finally, Truist Financial lowered their price target on shares of Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $84.77.

About Sysco

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.