Capital World Investors Sells 1,166,241 Shares of Sysco Co. (NYSE:SYY)

Capital World Investors reduced its position in shares of Sysco Co. (NYSE:SYY) by 8.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,333,401 shares of the company’s stock after selling 1,166,241 shares during the period. Capital World Investors’ holdings in Sysco were worth $943,012,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fortem Financial Group LLC lifted its position in shares of Sysco by 3.6% during the 4th quarter. Fortem Financial Group LLC now owns 3,875 shares of the company’s stock worth $296,000 after buying an additional 136 shares in the last quarter. MV Capital Management Inc. increased its position in shares of Sysco by 0.4% during the fourth quarter. MV Capital Management Inc. now owns 34,330 shares of the company’s stock valued at $2,625,000 after acquiring an additional 144 shares during the last quarter. Morton Community Bank lifted its holdings in Sysco by 0.4% during the fourth quarter. Morton Community Bank now owns 40,585 shares of the company’s stock worth $3,103,000 after acquiring an additional 145 shares during the period. Nemes Rush Group LLC boosted its position in Sysco by 5.9% in the fourth quarter. Nemes Rush Group LLC now owns 2,631 shares of the company’s stock worth $201,000 after purchasing an additional 147 shares during the last quarter. Finally, SRS Capital Advisors Inc. grew its stake in Sysco by 53.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after purchasing an additional 149 shares during the period. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Guggenheim reiterated a “buy” rating and set a $85.00 target price on shares of Sysco in a research note on Wednesday, January 29th. Morgan Stanley lowered their price objective on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. JPMorgan Chase & Co. decreased their price target on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Truist Financial dropped their price objective on 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 lowered their target price on Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.77.

Sysco Price Performance

SYY stock opened at $71.71 on Friday. The firm has a 50 day moving average of $72.67 and a 200-day moving average of $74.54. The firm has a market capitalization of $35.08 billion, a P/E ratio of 18.43, a price-to-earnings-growth ratio of 1.88 and a beta of 0.91. Sysco Co. has a 12 month low of $67.12 and a 12 month high of $82.23. 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 released its quarterly 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 quarter last year, the company posted $0.89 earnings per share. As a group, sell-side analysts predict that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The firm also recently declared 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 2.84%. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

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.