New England Research & Management Inc. Decreases Stock Position in Sysco Co. (NYSE:SYY)

New England Research & Management Inc. lowered its stake in Sysco Co. (NYSE:SYY) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,334 shares of the company’s stock after selling 1,060 shares during the period. Sysco makes up approximately 1.3% of New England Research & Management Inc.’s holdings, making the stock its 19th largest holding. New England Research & Management Inc.’s holdings in Sysco were worth $2,549,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of SYY. State Street Corp increased its holdings in Sysco by 11.1% during the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after purchasing an additional 2,721,449 shares during the period. Diamond Hill Capital Management Inc. increased its holdings in Sysco by 11.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock valued at $521,874,000 after purchasing an additional 672,940 shares during the period. Primecap Management Co. CA increased its holdings in Sysco by 9.7% during the 3rd quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company’s stock valued at $374,410,000 after purchasing an additional 422,954 shares during the period. Montrusco Bolton Investments Inc. increased its holdings in Sysco by 8.5% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company’s stock valued at $366,789,000 after purchasing an additional 375,409 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in Sysco by 4.1% during the 3rd quarter. Janus Henderson Group PLC now owns 4,265,723 shares of the company’s stock valued at $332,983,000 after purchasing an additional 168,163 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Insider Activity

In related news, Director Sheila Talton sold 2,900 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total value of $216,427.00. Following the transaction, the director now directly owns 12,955 shares of the company’s stock, valued at approximately $966,831.65. This trade represents a 18.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now directly 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 disclosure for this sale can be found here. Insiders have sold 83,306 shares of company stock valued at $6,485,050 in the last ninety days. 0.54% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SYY shares. Morgan Stanley reduced their price target on Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a report on Wednesday. Truist Financial cut their price objective on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday. Jefferies Financial Group lifted their price objective on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Barclays cut their price objective on Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, UBS Group cut their price objective on Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research report on Wednesday. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Sysco currently has an average rating of “Moderate Buy” and an average price target of $85.21.

Sysco Stock Performance

Shares of SYY opened at $71.96 on Thursday. The business’s fifty day simple moving average is $76.43 and its two-hundred day simple moving average is $76.03. The company has a current ratio of 1.26, a quick ratio of 0.73 and a debt-to-equity ratio of 5.38. Sysco Co. has a 12 month low of $69.03 and a 12 month high of $82.89. The company has a market cap of $35.35 billion, a price-to-earnings ratio of 18.50, a P/E/G ratio of 2.04 and a beta of 1.18.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, January 28th. The company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. Sysco had a return on equity of 101.04% and a net margin of 2.44%. During the same quarter in the prior year, the business posted $0.89 EPS. Research analysts anticipate that Sysco Co. will post 4.57 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 24th. Stockholders of record on Friday, January 3rd were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.04 annualized dividend and a dividend yield of 2.83%. Sysco’s payout ratio is 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.