Pacer Advisors Inc. Sells 35,750 Shares of Sysco Co. (NYSE:SYY)

Pacer Advisors Inc. cut its holdings in Sysco Co. (NYSE:SYY) by 36.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 61,191 shares of the company’s stock after selling 35,750 shares during the period. Pacer Advisors Inc.’s holdings in Sysco were worth $4,679,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Armstrong Advisory Group Inc. grew its position in shares of Sysco by 1,240.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock worth $26,000 after purchasing an additional 310 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Sysco in the third quarter valued at approximately $26,000. Valley Wealth Managers Inc. acquired a new stake in Sysco during the third quarter worth approximately $31,000. Focused Wealth Management Inc bought a new position in Sysco during the 3rd quarter worth $37,000. Finally, Canoe Financial LP acquired a new position in Sysco in the 3rd quarter valued at $38,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SYY. UBS Group reduced their target price on Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a report on Wednesday. Wells Fargo & Company reduced their price objective on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Truist Financial dropped their target price on shares of Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday. Melius started coverage on shares of Sysco in a research report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price target on the stock. Finally, Morgan Stanley lowered their price objective on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.21.

Sysco Stock Performance

Sysco stock opened at $73.33 on Friday. The business has a 50 day moving average of $76.40 and a 200-day moving average of $76.00. The company has a debt-to-equity ratio of 5.38, a current ratio of 1.26 and a quick ratio of 0.73. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.89. The company has a market capitalization of $36.02 billion, a P/E ratio of 18.85, a P/E/G ratio of 2.04 and a beta of 1.18.

Sysco (NYSE:SYY) last released its quarterly 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 2.44% and a return on equity of 101.04%. During the same quarter in the prior year, the company earned $0.89 earnings per share. On average, equities research analysts predict that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, January 3rd were given a $0.51 dividend. The ex-dividend date was Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.78%. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Insider Transactions at Sysco

In other news, EVP Greg D. Bertrand sold 21,844 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $1,747,520.00. Following the completion of the sale, the executive vice president now directly owns 60,581 shares in the company, valued at $4,846,480. This represents a 26.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Sheila Talton sold 2,900 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $74.63, for a total transaction of $216,427.00. Following the completion of the transaction, the director now owns 12,955 shares in the company, valued at approximately $966,831.65. The trade was a 18.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,270 shares of company stock worth $6,181,946 over the last ninety days. 0.54% of the stock is owned by 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.