Skandinaviska Enskilda Banken AB publ Sells 2,100 Shares of Sysco Co. (NYSE:SYY)

Skandinaviska Enskilda Banken AB publ reduced its holdings in shares of Sysco Co. (NYSE:SYY) by 2.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 98,425 shares of the company’s stock after selling 2,100 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Sysco were worth $7,516,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. State Street Corp boosted its stake in shares of Sysco by 11.1% during 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 period. Primecap Management Co. CA lifted its holdings in Sysco by 9.7% during the 3rd quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company’s stock valued at $374,410,000 after buying an additional 422,954 shares in the last quarter. Montrusco Bolton Investments Inc. boosted its position in Sysco by 8.5% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company’s stock valued at $366,789,000 after buying an additional 375,409 shares during the period. Janus Henderson Group PLC grew its stake in Sysco by 4.1% in the 3rd quarter. Janus Henderson Group PLC now owns 4,265,723 shares of the company’s stock worth $332,983,000 after acquiring an additional 168,163 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Sysco by 17.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,918,365 shares of the company’s stock worth $305,868,000 after acquiring an additional 569,058 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Buying and Selling at Sysco

In other news, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at $4,335,408. The trade was a 46.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.54% of the stock is currently owned by corporate insiders.

Sysco Stock Performance

Shares of NYSE SYY opened at $73.35 on Friday. The stock has a market cap of $35.89 billion, a price-to-earnings ratio of 18.86, a PEG ratio of 1.88 and a beta of 1.11. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.33. The company has a 50 day simple moving average of $73.28 and a two-hundred day simple moving average of $75.51. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66.

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

Sysco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a yield of 2.78%. The ex-dividend date is Friday, April 4th. Sysco’s dividend payout ratio is currently 52.44%.

Wall Street Analyst Weigh In

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

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.