Sysco Co. (NYSE:SYY) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB increased its position in shares of Sysco Co. (NYSE:SYY) by 3.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 274,901 shares of the company’s stock after purchasing an additional 8,645 shares during the quarter. Handelsbanken Fonder AB owned 0.05% of Sysco worth $20,104,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SYY. CWM LLC raised its holdings in shares of Sysco by 38.1% in the fourth quarter. CWM LLC now owns 43,357 shares of the company’s stock worth $3,171,000 after acquiring an additional 11,963 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Sysco by 6.9% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 55,990 shares of the company’s stock worth $4,095,000 after acquiring an additional 3,612 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Sysco by 20.5% in the fourth quarter. Signaturefd LLC now owns 6,261 shares of the company’s stock worth $458,000 after acquiring an additional 1,065 shares during the last quarter. Lindbrook Capital LLC raised its holdings in shares of Sysco by 115.2% in the fourth quarter. Lindbrook Capital LLC now owns 1,760 shares of the company’s stock worth $129,000 after acquiring an additional 942 shares during the last quarter. Finally, abrdn plc raised its holdings in shares of Sysco by 70.7% in the fourth quarter. abrdn plc now owns 213,018 shares of the company’s stock worth $15,578,000 after acquiring an additional 88,211 shares during the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Stephens boosted their price target on Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. Barclays lifted their price objective on Sysco from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. JPMorgan Chase & Co. lifted their price objective on Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. BMO Capital Markets lifted their price objective on Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Finally, StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 1st. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $85.38.

Insider Buying and Selling at Sysco

In other Sysco news, CAO Neil Russell sold 1,722 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total transaction of $137,760.00. Following the transaction, the chief accounting officer now owns 24,082 shares in the company, valued at $1,926,560. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.58% of the stock is owned by company insiders.

Sysco Price Performance

SYY stock opened at $77.33 on Tuesday. The stock has a 50-day moving average price of $79.33 and a two-hundred day moving average price of $74.55. Sysco Co. has a 12-month low of $62.24 and a 12-month high of $82.89. The company has a current ratio of 1.37, a quick ratio of 0.80 and a debt-to-equity ratio of 5.00. The company has a market cap of $38.50 billion, a PE ratio of 18.91, a price-to-earnings-growth ratio of 1.56 and a beta of 1.15.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, January 30th. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. Sysco had a return on equity of 105.22% and a net margin of 2.69%. The firm had revenue of $19.29 billion during the quarter, compared to the consensus estimate of $19.32 billion. During the same quarter in the previous year, the business earned $0.80 earnings per share. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, research analysts predict that Sysco Co. will post 4.3 EPS for the current year.

Sysco Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 5th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date is Thursday, April 4th. Sysco’s dividend payout ratio (DPR) is presently 48.90%.

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.