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

Commerzbank Aktiengesellschaft FI increased its holdings in Sysco Co. (NYSE:SYY) by 75.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,309 shares of the company’s stock after acquiring an additional 2,283 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Sysco were worth $406,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Ashton Thomas Securities LLC bought a new position in Sysco in the 3rd quarter valued at $26,000. Valley Wealth Managers Inc. bought a new position in Sysco during the third quarter valued at about $31,000. Stonebridge Financial Group LLC purchased a new stake in Sysco during the fourth quarter worth about $31,000. Sherman Asset Management Inc. bought a new stake in Sysco in the fourth quarter worth about $31,000. Finally, SRS Capital Advisors Inc. boosted its stake in Sysco by 53.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after acquiring an additional 149 shares during the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SYY has been the subject of several research analyst reports. Truist Financial decreased their price target on shares of Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Morgan Stanley lowered their target price on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock 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 target for the company. JPMorgan Chase & Co. decreased their price objective on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Finally, Barclays dropped their price objective on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $84.77.

Insider Activity

In related 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 value of $3,698,079.00. Following the sale, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at $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 SEC, which is available through the SEC website. Corporate insiders own 0.54% of the company’s stock.

Sysco Price Performance

Shares of NYSE:SYY opened at $74.48 on Thursday. The company has a 50 day moving average of $73.52 and a 200 day moving average of $75.62. 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 stock has a market cap 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 Co. has a 12 month low of $69.03 and a 12 month high of $82.33.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter last year, the company posted $0.89 earnings per share. As a group, sell-side analysts forecast that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The firm 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 $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 currently 52.44%.

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.