Adams Diversified Equity Fund Inc. Sells 25,400 Shares of Sysco Co. (NYSE:SYY)

Adams Diversified Equity Fund Inc. cut its position in shares of Sysco Co. (NYSE:SYY) by 11.4% during the 4th quarter, HoldingsChannel reports. The firm owned 196,700 shares of the company’s stock after selling 25,400 shares during the period. Adams Diversified Equity Fund Inc.’s holdings in Sysco were worth $15,040,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. State Street Corp boosted its position in shares of Sysco by 11.1% during the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after purchasing an additional 2,721,449 shares in the last quarter. Boston Partners boosted its position in shares of Sysco by 143.7% during the fourth quarter. Boston Partners now owns 12,184,114 shares of the company’s stock valued at $930,296,000 after purchasing an additional 7,184,754 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its position in shares of Sysco by 7.8% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 7,206,978 shares of the company’s stock valued at $551,046,000 after purchasing an additional 521,431 shares in the last quarter. Primecap Management Co. CA boosted its position in shares of Sysco by 9.7% during the third quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company’s stock valued at $374,410,000 after purchasing an additional 422,954 shares in the last quarter. Finally, Montrusco Bolton Investments Inc. boosted its position in shares of Sysco by 8.5% during the third quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company’s stock valued at $366,789,000 after purchasing an additional 375,409 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the sale, the executive vice president now owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.54% of the stock is currently owned by corporate insiders.

Sysco Stock Down 1.8 %

Sysco stock opened at $71.12 on Friday. The stock has a market cap of $34.79 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. Sysco Co. has a one year low of $69.03 and a one year high of $82.33. The stock has a fifty day moving average of $73.15 and a 200 day moving average of $75.41.

Sysco (NYSE:SYY) last posted its quarterly earnings data 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 quarter in the previous year, the firm earned $0.89 earnings per share. As a group, sell-side analysts predict that Sysco Co. will post 4.58 EPS for the current year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Truist Financial dropped their price target on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. JPMorgan Chase & Co. lowered their price objective on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Guggenheim reiterated a “buy” rating and set a $85.00 price objective on shares of Sysco in a research note on Wednesday, January 29th. Melius assumed coverage on Sysco in a research note on Wednesday, December 18th. They set a “hold” rating and a $85.00 price objective for the company. Finally, Barclays lowered their price objective on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $84.77.

Sysco Company 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.