Brown Brothers Harriman & Co. Sells 32,366 Shares of Sysco Co. (NYSE:SYY)

Brown Brothers Harriman & Co. decreased its holdings in shares of Sysco Co. (NYSE:SYY) by 16.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 161,760 shares of the company’s stock after selling 32,366 shares during the period. Brown Brothers Harriman & Co.’s holdings in Sysco were worth $12,368,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC purchased a new position in shares of Sysco during the fourth quarter worth about $31,000. Sherman Asset Management Inc. purchased a new position in Sysco in the 4th quarter worth approximately $31,000. Flagship Wealth Advisors LLC bought a new position in shares of Sysco in the 4th quarter worth $31,000. SRS Capital Advisors Inc. raised its position in shares of Sysco by 53.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after buying an additional 149 shares in the last quarter. Finally, HHM Wealth Advisors LLC lifted its holdings in shares of Sysco by 107.4% during the 4th quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock worth $47,000 after acquiring an additional 321 shares during the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SYY has been the topic of a number of research reports. Melius started coverage on Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price target on the stock. Morgan Stanley decreased their price objective on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. UBS Group cut their target price on Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Truist Financial decreased their price target 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. Finally, Barclays cut their price objective on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Sysco currently has an average rating of “Moderate Buy” and a consensus target price of $84.77.

Sysco Stock Performance

Sysco stock opened at $74.10 on Friday. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.23. The firm has a market cap of $36.25 billion, a P/E ratio of 19.05, a P/E/G ratio of 1.88 and a beta of 1.11. 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 firm has a 50-day moving average of $72.99 and a 200-day moving average of $75.15.

Sysco (NYSE:SYY) last issued its quarterly earnings data 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 period last year, the company posted $0.89 EPS. Sell-side analysts expect that Sysco Co. will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The business 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 $0.51 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 annualized dividend and a dividend yield of 2.75%. Sysco’s dividend payout ratio is 52.44%.

Insider Activity

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which is available at this link. 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.