Sysco Co. (NYSE:SYY) Shares Sold by Summit Global Investments

Summit Global Investments lowered its stake in shares of Sysco Co. (NYSE:SYY) by 22.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 56,986 shares of the company’s stock after selling 16,487 shares during the period. Summit Global Investments’ holdings in Sysco were worth $4,357,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Buckley Wealth Management LLC boosted its stake in Sysco by 0.8% during the fourth quarter. Buckley Wealth Management LLC now owns 18,188 shares of the company’s stock worth $1,391,000 after buying an additional 150 shares during the last quarter. WR Wealth Planners LLC boosted its stake in Sysco by 9.9% during the fourth quarter. WR Wealth Planners LLC now owns 4,270 shares of the company’s stock worth $326,000 after buying an additional 386 shares during the last quarter. Captrust Financial Advisors boosted its stake in Sysco by 7.7% during the third quarter. Captrust Financial Advisors now owns 124,341 shares of the company’s stock worth $9,706,000 after buying an additional 8,891 shares during the last quarter. Clark & Stuart Inc acquired a new position in shares of Sysco in the 4th quarter valued at $7,613,000. Finally, Kovitz Investment Group Partners LLC lifted its stake in shares of Sysco by 76.0% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 135,362 shares of the company’s stock valued at $10,256,000 after purchasing an additional 58,430 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Price Performance

SYY stock opened at $71.12 on Friday. 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 company has a market capitalization of $34.79 billion, a PE ratio of 18.28, a P/E/G ratio of 1.88 and a beta of 1.11. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.33. The business’s fifty day moving average price is $73.10 and its 200 day moving average price is $75.36.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting the consensus estimate 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 anticipate that Sysco Co. will post 4.58 EPS for the current year.

Sysco Announces Dividend

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

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on SYY shares. JPMorgan Chase & Co. decreased their price target on Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Barclays decreased their price target on Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday. Wells Fargo & Company upped their price target on Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Finally, Truist Financial decreased their price target on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Sysco currently has an average rating of “Moderate Buy” and a consensus target price 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.