Kiltearn Partners LLP Sells 19,600 Shares of Sysco Co. (NYSE:SYY)

Kiltearn Partners LLP lowered its stake in Sysco Co. (NYSE:SYY) by 9.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 183,900 shares of the company’s stock after selling 19,600 shares during the period. Sysco comprises 2.3% of Kiltearn Partners LLP’s holdings, making the stock its 19th largest position. Kiltearn Partners LLP’s holdings in Sysco were worth $14,061,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Sysco by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 61,519,424 shares of the company’s stock worth $4,703,775,000 after purchasing an additional 429,711 shares during the period. State Street Corp raised its stake in 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 buying an additional 2,721,449 shares during the last quarter. Boston Partners grew its position in Sysco by 143.7% during the 4th quarter. Boston Partners now owns 12,184,114 shares of the company’s stock valued at $930,296,000 after purchasing an additional 7,184,754 shares during the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of Sysco by 7.8% during 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 acquiring an additional 521,431 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Sysco in the 4th quarter worth $450,441,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

Shares of SYY opened at $73.99 on Friday. The stock has a 50-day simple moving average of $72.97 and a 200-day simple moving average of $75.18. The stock has a market capitalization of $36.20 billion, a PE ratio of 19.02, a PEG ratio of 1.88 and a beta of 1.11. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.23. 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 posted its earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period in the prior year, the business 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. Stockholders of record on Friday, April 4th will be paid a dividend of $0.51 per share. The ex-dividend date 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%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SYY shares. Jefferies Financial Group increased their price target on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a report on Monday, December 16th. Melius Research upgraded shares of Sysco to a “hold” rating in a research note on Wednesday, December 18th. Melius assumed coverage on shares of Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price objective on the stock. Wells Fargo & Company increased their price target on Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Finally, Truist Financial dropped their price objective on shares of Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $84.77.

Insiders Place Their Bets

In other news, EVP Greg D. Bertrand sold 48,027 shares of the business’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 completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.54% of the stock is currently owned by company insiders.

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.