QRG Capital Management Inc. Sells 1,960 Shares of Sysco Co. (NYSE:SYY)

QRG Capital Management Inc. trimmed its stake in Sysco Co. (NYSE:SYY) by 8.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,406 shares of the company’s stock after selling 1,960 shares during the period. QRG Capital Management Inc.’s holdings in Sysco were worth $1,637,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of SYY. Ashton Thomas Securities LLC bought a new stake in Sysco in the third quarter valued at $26,000. Valley Wealth Managers Inc. acquired a new position in Sysco in the third quarter worth $31,000. Stonebridge Financial Group LLC acquired a new position in Sysco in the fourth quarter worth $31,000. Focused Wealth Management Inc acquired a new position in Sysco in the third quarter worth $37,000. Finally, HHM Wealth Advisors LLC boosted its stake in Sysco by 107.4% in the fourth quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock worth $47,000 after purchasing an additional 321 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors.

Insider Activity at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction dated Thursday, January 2nd. The stock was 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 represents a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Eve M. Mcfadden sold 6,499 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $80.00, for a total value of $519,920.00. Following the completion of the sale, the senior vice president now owns 48,451 shares of the company’s stock, valued at $3,876,080. This trade represents a 11.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,370 shares of company stock worth $5,965,519. 0.54% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SYY has been the topic of a number of recent analyst reports. Jefferies Financial Group boosted their price objective on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Guggenheim reissued a “buy” rating and issued a $85.00 price objective on shares of Sysco in a research note on Wednesday, January 29th. Melius initiated coverage on Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price objective on the stock. Truist Financial reduced 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, JPMorgan Chase & Co. cut their price target on Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $84.77.

Sysco Trading Up 1.1 %

NYSE SYY opened at $75.53 on Monday. The stock has a 50-day simple moving average of $73.66 and a 200 day simple moving average of $75.65. The company has a market capitalization of $36.95 billion, a PE ratio of 19.42, a P/E/G ratio of 1.88 and a beta of 1.17. 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 Co. has a 12 month low of $69.03 and a 12 month high of $82.33.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting 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 in the prior year, the firm earned $0.89 earnings per share. Research analysts forecast that Sysco Co. will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be issued a $0.51 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.70%. Sysco’s dividend payout ratio is presently 52.44%.

About Sysco

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.