2,904 Shares in Sysco Co. (NYSE:SYY) Bought by Howe & Rusling Inc.

Howe & Rusling Inc. bought a new stake in Sysco Co. (NYSE:SYY) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,904 shares of the company’s stock, valued at approximately $222,000.

A number of other institutional investors and hedge funds have also modified their holdings of SYY. Vanguard Group Inc. lifted its holdings in Sysco by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 61,519,424 shares of the company’s stock valued at $4,703,775,000 after purchasing an additional 429,711 shares in the last quarter. State Street Corp boosted its holdings in Sysco by 11.1% in the 3rd 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. Boston Partners grew its position in Sysco by 143.7% in the fourth quarter. Boston Partners now owns 12,184,114 shares of the company’s stock worth $930,296,000 after acquiring an additional 7,184,754 shares during the period. Diamond Hill Capital Management Inc. raised its position in Sysco by 7.8% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 7,206,978 shares of the company’s stock valued at $551,046,000 after purchasing an additional 521,431 shares during the period. Finally, Janus Henderson Group PLC lifted its stake in shares of Sysco by 4.1% in the 3rd quarter. Janus Henderson Group PLC now owns 4,265,723 shares of the company’s stock valued at $332,983,000 after purchasing an additional 168,163 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Activity

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Truist Financial reduced their price objective on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Melius assumed coverage on shares of Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price objective on the stock. Melius Research raised Sysco to a “hold” rating in a research report on Wednesday, December 18th. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. Finally, JPMorgan Chase & Co. cut their price objective on Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $84.77.

Sysco Price Performance

Shares of NYSE:SYY opened at $73.99 on Friday. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.23. The firm has a market capitalization of $36.20 billion, a P/E ratio of 19.02, a P/E/G ratio of 1.88 and a beta of 1.11. The company’s fifty day moving average price is $72.97 and its 200 day moving average price is $75.18.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, January 28th. The company reported $0.93 EPS 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 company earned $0.89 EPS. As a group, sell-side analysts predict that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be given a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.76%. Sysco’s dividend payout ratio (DPR) is presently 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.