AMF Tjanstepension AB Purchases 130,727 Shares of Sysco Co. (NYSE:SYY)

AMF Tjanstepension AB boosted its position in Sysco Co. (NYSE:SYY) by 417.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 162,059 shares of the company’s stock after buying an additional 130,727 shares during the quarter. AMF Tjanstepension AB’s holdings in Sysco were worth $12,391,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its holdings in Sysco by 10.6% during the third quarter. Farther Finance Advisors LLC now owns 3,544 shares of the company’s stock worth $277,000 after buying an additional 340 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in Sysco during the third quarter worth about $62,000. Robeco Institutional Asset Management B.V. boosted its holdings in Sysco by 2.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 78,995 shares of the company’s stock worth $6,166,000 after buying an additional 1,671 shares during the last quarter. Graypoint LLC boosted its holdings in Sysco by 12.1% during the third quarter. Graypoint LLC now owns 4,100 shares of the company’s stock worth $320,000 after buying an additional 443 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Sysco by 3.8% during the third quarter. Principal Financial Group Inc. now owns 608,135 shares of the company’s stock worth $47,471,000 after buying an additional 22,513 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Up 1.9 %

Shares of Sysco stock opened at $76.53 on Friday. The business’s 50 day simple moving average is $73.47 and its 200 day simple moving average is $75.62. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.33. The firm has a market cap of $37.44 billion, a PE ratio of 19.67, a P/E/G ratio of 1.88 and a beta of 1.11. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting 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 period last year, the firm posted $0.89 EPS. On average, analysts predict that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be paid a $0.51 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.67%. Sysco’s dividend payout ratio is 52.44%.

Analyst Ratings Changes

A number of brokerages have issued reports on SYY. JPMorgan Chase & Co. reduced their target price on Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Melius began coverage on Sysco in a report on Wednesday, December 18th. They set a “hold” rating and a $85.00 target price on the stock. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Barclays dropped their price target on Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Finally, Truist Financial dropped their price target on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Sysco has an average rating of “Moderate Buy” and an average target price of $84.77.

Insider Buying and Selling at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the transaction, the executive vice president now directly owns 56,304 shares in the company, valued at $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.54% of the company’s stock.

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.