Vanguard Group Inc. Buys 429,711 Shares of Sysco Co. (NYSE:SYY)

Vanguard Group Inc. lifted its stake in Sysco Co. (NYSE:SYY) by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 61,519,424 shares of the company’s stock after buying an additional 429,711 shares during the period. Vanguard Group Inc. owned about 0.13% of Sysco worth $4,703,775,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Boston Partners lifted its position in shares of Sysco by 143.7% in the 4th quarter. Boston Partners now owns 12,184,114 shares of the company’s stock worth $930,296,000 after acquiring an additional 7,184,754 shares during the period. State Street Corp lifted its position in Sysco by 11.1% in the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock worth $2,130,617,000 after purchasing an additional 2,721,449 shares during the period. Mondrian Investment Partners LTD acquired a new stake in Sysco during the fourth quarter worth $123,928,000. Raymond James Financial Inc. bought a new stake in Sysco in the 4th quarter valued at $97,078,000. Finally, Nordea Investment Management AB raised its stake in shares of Sysco by 52.3% in the 4th quarter. Nordea Investment Management AB now owns 2,719,478 shares of the company’s stock valued at $208,666,000 after buying an additional 933,327 shares in the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Price Performance

Sysco stock opened at $71.42 on Tuesday. The stock has a market cap of $34.94 billion, a price-to-earnings ratio of 18.36, a P/E/G ratio of 1.88 and a beta of 1.11. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.33. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The business’s 50-day simple moving average is $73.05 and its 200 day simple moving average is $75.26.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period last year, the firm posted $0.89 EPS. As a group, research analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s payout ratio is 52.44%.

Analyst Ratings Changes

SYY has been the topic of several recent research reports. Morgan Stanley decreased their target price 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. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. Wells Fargo & Company increased their price objective on Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Truist Financial decreased their price objective 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, UBS Group cut their target price on shares of Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.77.

Insider Activity

In related news, EVP Greg D. Bertrand sold 48,027 shares of the company’s 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 owns 56,304 shares in the company, valued at approximately $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.54% of the stock is currently owned by company insiders.

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.