Sysco Co. (NYSE:SYY) Shares Sold by Swiss National Bank

Swiss National Bank cut its position in Sysco Co. (NYSE:SYY) by 3.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,576,800 shares of the company’s stock after selling 52,900 shares during the quarter. Swiss National Bank owned approximately 0.31% of Sysco worth $115,311,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. AdvisorNet Financial Inc raised its position in Sysco by 74.0% in the 4th quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock valued at $27,000 after purchasing an additional 159 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Sysco in the fourth quarter valued at $34,000. BluePath Capital Management LLC acquired a new position in shares of Sysco during the 3rd quarter worth $38,000. Milestone Investment Advisors LLC purchased a new stake in shares of Sysco in the 3rd quarter worth about $40,000. Finally, AllSquare Wealth Management LLC purchased a new position in Sysco during the 3rd quarter valued at about $42,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

Shares of NYSE SYY opened at $75.36 on Friday. The company has a current ratio of 1.34, a quick ratio of 0.80 and a debt-to-equity ratio of 5.77. Sysco Co. has a twelve month low of $62.24 and a twelve month high of $82.89. The business has a 50 day simple moving average of $78.76 and a 200-day simple moving average of $75.09. The company has a market capitalization of $37.53 billion, a price-to-earnings ratio of 18.38, a price-to-earnings-growth ratio of 1.89 and a beta of 1.16.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, April 30th. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The company had revenue of $19.38 billion during the quarter, compared to the consensus estimate of $19.74 billion. During the same period in the previous year, the firm posted $0.90 earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. As a group, equities research analysts expect that Sysco Co. will post 4.31 earnings per share for the current year.

Sysco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Friday, July 5th. This is an increase from Sysco’s previous quarterly dividend of $0.50. Sysco’s dividend payout ratio (DPR) is 48.78%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SYY. Truist Financial dropped their price target on Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday. Barclays upped their price target on shares of Sysco from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Piper Sandler cut their price objective on Sysco from $83.00 to $79.00 and set a “neutral” rating on the stock in a research report on Wednesday. UBS Group decreased their target price on Sysco from $92.00 to $87.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, BMO Capital Markets raised their target price on Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $84.56.

Insider Transactions at Sysco

In other Sysco news, CAO Neil Russell sold 1,722 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total transaction of $137,760.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,082 shares in the company, valued at $1,926,560. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.58% of the stock is currently owned by corporate insiders.

Sysco 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.