Swiss National Bank Trims Position in Sysco Co. (NYSE:SYY)

Swiss National Bank decreased its position in shares of Sysco Co. (NYSE:SYY) by 6.1% during the 4th quarter, HoldingsChannel reports. The fund owned 1,387,800 shares of the company’s stock after selling 90,200 shares during the quarter. Swiss National Bank’s holdings in Sysco were worth $106,111,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Essential Planning LLC. acquired a new position in shares of Sysco during the 4th quarter valued at about $866,000. Hopwood Financial Services Inc. acquired a new position in shares of Sysco during the 4th quarter valued at about $65,000. Farther Finance Advisors LLC boosted its position in shares of Sysco by 18.6% during the 4th quarter. Farther Finance Advisors LLC now owns 4,204 shares of the company’s stock valued at $321,000 after acquiring an additional 660 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Sysco by 12.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,838 shares of the company’s stock valued at $217,000 after acquiring an additional 324 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its position in shares of Sysco by 4.4% during the 4th quarter. Sequoia Financial Advisors LLC now owns 21,166 shares of the company’s stock valued at $1,618,000 after acquiring an additional 899 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Up 1.0 %

Shares of NYSE:SYY opened at $73.35 on Friday. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The firm has a market capitalization of $35.89 billion, a PE ratio of 18.86, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. The firm’s 50-day moving average is $73.28 and its two-hundred day moving average is $75.52. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.33.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting 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 firm earned $0.89 EPS. Analysts predict that Sysco Co. will post 4.58 EPS for the current year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.78%. Sysco’s payout ratio is 52.44%.

Insider Buying and Selling

In related news, EVP Greg D. Bertrand sold 48,027 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wells Fargo & Company boosted their price target on shares of Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Truist Financial reduced their price objective on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Guggenheim restated a “buy” rating and issued a $85.00 price objective on shares of Sysco in a report on Wednesday, January 29th. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 5th. Finally, Melius Research upgraded shares of Sysco to a “hold” rating in a report on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.77.

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.