American National Bank & Trust Co. VA Invests $266,000 in Sysco Co. (NYSE:SYY)

American National Bank & Trust Co. VA purchased a new position in shares of Sysco Co. (NYSE:SYY) in the 1st quarter, Holdings Channel reports. The firm purchased 3,277 shares of the company’s stock, valued at approximately $266,000.

Several other hedge funds also recently made changes to their positions in the business. Capital World Investors bought a new position in shares of Sysco during the 4th quarter worth approximately $683,599,000. Norges Bank bought a new position in shares of Sysco in the fourth quarter valued at $450,794,000. The Manufacturers Life Insurance Company grew its stake in shares of Sysco by 132.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 3,653,446 shares of the company’s stock valued at $267,177,000 after buying an additional 2,084,501 shares in the last quarter. Capital Research Global Investors bought a new position in shares of Sysco in the fourth quarter valued at $227,241,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Sysco by 8.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,036,100 shares of the company’s stock valued at $222,029,000 after buying an additional 240,671 shares in the last quarter. 83.41% of the stock is owned by institutional investors.

Sysco Trading Down 0.8 %

SYY stock opened at $70.05 on Friday. The company has a debt-to-equity ratio of 5.77, a current ratio of 1.34 and a quick ratio of 0.77. The company has a fifty day moving average price of $73.38 and a two-hundred day moving average price of $76.27. Sysco Co. has a one year low of $62.24 and a one year high of $82.89. The stock has a market cap of $34.88 billion, a price-to-earnings ratio of 17.09, a price-to-earnings-growth ratio of 1.88 and a beta of 1.18.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.96 EPS 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 firm had revenue of $19.38 billion during the quarter, compared to analysts’ expectations of $19.74 billion. During the same period in the previous year, the business posted $0.90 earnings per share. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities analysts anticipate that Sysco Co. will post 4.3 EPS for the current year.

Sysco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be issued a dividend of $0.51 per share. The ex-dividend date is Friday, July 5th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.91%. This is an increase from Sysco’s previous quarterly dividend of $0.50. Sysco’s dividend payout ratio (DPR) is currently 48.78%.

Wall Street Analyst Weigh In

SYY has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Sysco from $90.00 to $86.00 and set a “buy” rating for the company in a research note on Thursday, May 23rd. Piper Sandler decreased their target price on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. JPMorgan Chase & Co. decreased their target price on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, May 23rd. Guggenheim raised shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 target price for the company in a research note on Tuesday, May 28th. Finally, Morgan Stanley decreased their target price on shares of Sysco from $84.00 to $82.00 and set an “equal weight” rating for the company in a research note on Thursday, May 23rd. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $84.90.

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.