Whittier Trust Co. of Nevada Inc. Raises Stake in Sysco Co. (NYSE:SYY)

Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Sysco Co. (NYSE:SYY) by 10.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,981 shares of the company’s stock after acquiring an additional 379 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Sysco were worth $304,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of SYY. Berkeley Capital Partners LLC purchased a new position in Sysco in the fourth quarter worth about $1,321,000. iA Global Asset Management Inc. raised its holdings in Sysco by 77.3% in the fourth quarter. iA Global Asset Management Inc. now owns 43,680 shares of the company’s stock worth $3,340,000 after buying an additional 19,050 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in Sysco by 6.6% in the fourth quarter. Teacher Retirement System of Texas now owns 847,018 shares of the company’s stock worth $64,763,000 after buying an additional 52,464 shares during the last quarter. Royal London Asset Management Ltd. raised its holdings in Sysco by 2.4% in the fourth quarter. Royal London Asset Management Ltd. now owns 301,681 shares of the company’s stock worth $23,067,000 after buying an additional 7,198 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd raised its holdings in Sysco by 1,561.6% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 2,293 shares of the company’s stock worth $175,000 after buying an additional 2,155 shares during the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Barclays decreased their target price on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. UBS Group decreased their target price on shares of Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Jefferies Financial Group lifted their price target on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Truist Financial reduced their price target on shares of Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Finally, Morgan Stanley reduced their price target on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and an average price target of $84.77.

Insiders Place Their Bets

In other Sysco 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 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 $4,335,408. This 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 through this hyperlink. Company insiders own 0.54% of the company’s stock.

Sysco Stock Performance

Shares of NYSE SYY opened at $71.12 on Monday. The firm has a 50 day moving average of $73.10 and a 200 day moving average of $75.32. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The firm has a market capitalization of $34.79 billion, a price-to-earnings ratio of 18.28, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. Sysco Co. has a 12-month low of $69.03 and a 12-month high of $82.33.

Sysco (NYSE:SYY) last announced its 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 2.40% and a return on equity of 106.30%. During the same quarter last year, the business earned $0.89 earnings per share. On average, research analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be given 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 2.87%. Sysco’s 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.