Gulf International Bank UK Ltd Reduces Holdings in Sysco Co. (NYSE:SYY)

Gulf International Bank UK Ltd reduced its position in Sysco Co. (NYSE:SYY) by 1.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 39,596 shares of the company’s stock after selling 432 shares during the period. Gulf International Bank UK Ltd’s holdings in Sysco were worth $3,027,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SYY. State Street Corp boosted its holdings in Sysco by 11.1% in the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after purchasing an additional 2,721,449 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Sysco in the third quarter valued at about $137,900,000. Nordea Investment Management AB boosted its holdings in Sysco by 52.3% in the fourth 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. Diamond Hill Capital Management Inc. boosted its holdings in Sysco by 11.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock valued at $521,874,000 after purchasing an additional 672,940 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC purchased a new position in Sysco in the third quarter valued at about $44,722,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Stock Up 1.1 %

Shares of Sysco stock opened at $75.53 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 business’s 50 day simple moving average is $73.66 and its 200-day simple moving average is $75.65. The stock has a market capitalization of $36.95 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 1.88 and a beta of 1.17. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.33.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates 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 previous year, the business posted $0.89 EPS. Equities research analysts forecast that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s dividend payout ratio (DPR) is 52.44%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SYY shares. JPMorgan Chase & Co. reduced their price target on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Wells Fargo & Company increased their price target on Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday. Melius Research upgraded Sysco to a “hold” rating in a research note on Wednesday, December 18th. Morgan Stanley cut their price objective 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. Finally, Truist Financial cut their price objective 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $84.77.

Insider Buying and Selling

In related news, SVP Eve M. Mcfadden sold 6,499 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $519,920.00. Following the completion of the transaction, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,876,080. This represents a 11.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Greg D. Bertrand sold 21,844 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $1,747,520.00. Following the transaction, the executive vice president now directly owns 60,581 shares of the company’s stock, valued at approximately $4,846,480. The trade was a 26.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 76,370 shares of company stock valued at $5,965,519 in the last three months. 0.54% of the stock is currently owned by corporate insiders.

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.