Rathbones Group PLC Sells 43,261 Shares of Sysco Co. (NYSE:SYY)

Rathbones Group PLC trimmed its position in Sysco Co. (NYSE:SYY) by 31.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 92,680 shares of the company’s stock after selling 43,261 shares during the period. Rathbones Group PLC’s holdings in Sysco were worth $7,086,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Boston Partners grew its holdings in shares of Sysco by 143.7% in 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. Norges Bank purchased a new stake in shares of Sysco in the 4th quarter worth $450,441,000. Mondrian Investment Partners LTD purchased a new position in Sysco during the fourth quarter valued at approximately $123,928,000. Raymond James Financial Inc. bought a new position in Sysco in the fourth quarter worth about $97,078,000. Finally, Nordea Investment Management AB lifted its holdings in shares of Sysco by 52.3% during the 4th quarter. Nordea Investment Management AB now owns 2,719,478 shares of the company’s stock valued at $208,666,000 after purchasing an additional 933,327 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on SYY. Guggenheim reaffirmed a “buy” rating and issued a $85.00 price target on shares of Sysco in a report on Wednesday, January 29th. Barclays cut their price objective on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Jefferies Financial Group boosted their target price on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Truist Financial lowered their target price on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Finally, Wells Fargo & Company upped their target price on shares of Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $84.77.

Sysco Stock Down 2.9 %

Shares of SYY stock opened at $69.40 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The firm has a market cap of $33.95 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 1.88 and a beta of 0.91. The stock has a 50 day moving average of $72.92 and a 200-day moving average of $75.01. Sysco Co. has a 12 month low of $68.65 and a 12 month high of $82.23.

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

Sysco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.94%. Sysco’s dividend payout ratio is 52.44%.

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.