Royal London Asset Management Ltd. Buys 7,198 Shares of Sysco Co. (NYSE:SYY)

Royal London Asset Management Ltd. grew its stake in shares of Sysco Co. (NYSE:SYY) by 2.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 301,681 shares of the company’s stock after acquiring an additional 7,198 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Sysco were worth $23,067,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Stonebridge Financial Group LLC bought a new stake in shares of Sysco during the 4th quarter valued at $31,000. Sherman Asset Management Inc. bought a new stake in shares of Sysco during the 4th quarter worth $31,000. Flagship Wealth Advisors LLC bought a new stake in shares of Sysco during the 4th quarter worth $31,000. SRS Capital Advisors Inc. lifted its position in shares of Sysco by 53.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after buying an additional 149 shares during the last quarter. Finally, HHM Wealth Advisors LLC lifted its position in shares of Sysco by 107.4% during the 4th quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock worth $47,000 after buying an additional 321 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the sale, the executive vice president now owns 56,304 shares of the company’s stock, valued at $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.54% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on SYY. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Barclays dropped their price objective on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Melius Research upgraded Sysco to a “hold” rating in a research report on Wednesday, December 18th. Truist Financial dropped their target price on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, Jefferies Financial Group increased their target price on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $84.77.

Sysco Trading Down 0.1 %

Shares of SYY stock opened at $71.12 on Friday. The stock has a market cap of $34.79 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 1.88 and a beta of 1.11. The stock has a 50-day moving average of $73.10 and a 200-day moving average of $75.36. 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 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 for the quarter, meeting 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 period in the previous year, the business earned $0.89 earnings per share. On average, equities research analysts forecast 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. Investors of record on Friday, April 4th will be paid a dividend of $0.51 per share. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 annualized dividend and a yield of 2.87%. Sysco’s dividend payout ratio is currently 52.44%.

About Sysco

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.