CIBC Private Wealth Group LLC Sells 2,329 Shares of Sysco Co. (NYSE:SYY)

CIBC Private Wealth Group LLC trimmed its holdings in shares of Sysco Co. (NYSE:SYY) by 4.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 52,963 shares of the company’s stock after selling 2,329 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Sysco were worth $3,964,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SYY. Schroder Investment Management Group increased its stake in shares of Sysco by 70.6% in the 4th quarter. Schroder Investment Management Group now owns 207,823 shares of the company’s stock worth $15,869,000 after purchasing an additional 85,980 shares in the last quarter. MV Capital Management Inc. grew its holdings in Sysco by 0.4% during the fourth quarter. MV Capital Management Inc. now owns 34,330 shares of the company’s stock valued at $2,625,000 after purchasing an additional 144 shares during the period. Allianz SE purchased a new stake in Sysco in the fourth quarter worth about $1,501,000. Cambridge Financial Group Inc. bought a new position in shares of Sysco in the fourth quarter worth about $7,626,000. Finally, Allstate Corp purchased a new position in shares of Sysco during the 4th quarter valued at about $1,124,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Sysco

In related news, EVP Greg D. Bertrand sold 48,027 shares of the stock in a transaction dated Thursday, January 2nd. The shares were 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 owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.54% of the company’s stock.

Sysco Price Performance

NYSE:SYY opened at $75.46 on Wednesday. The company has a market capitalization of $36.91 billion, a P/E ratio of 19.40, a P/E/G ratio of 1.88 and a beta of 1.11. The business’s 50-day moving average is $73.07 and its 200 day moving average is $75.10. 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 $82.23.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. Sysco had a return on equity of 106.30% and a net margin of 2.40%. During the same quarter in the previous year, the business posted $0.89 EPS. On average, equities research analysts forecast that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

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

Analysts Set New Price Targets

SYY has been the topic of a number of recent analyst reports. Melius Research upgraded shares of Sysco to a “hold” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. decreased their price objective on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Melius initiated coverage on shares of Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 target price for the company. Truist Financial decreased their price target on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Finally, Wells Fargo & Company upped 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. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Sysco has a consensus rating of “Moderate Buy” and an average price target of $84.77.

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.