Sysco Co. (NYSE:SYY) Holdings Lowered by Corebridge Financial Inc.

Corebridge Financial Inc. lowered its stake in Sysco Co. (NYSE:SYY) by 4.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 119,823 shares of the company’s stock after selling 5,961 shares during the quarter. Corebridge Financial Inc.’s holdings in Sysco were worth $9,162,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of SYY. Advisors Asset Management Inc. purchased a new position in Sysco during the 3rd quarter valued at about $464,000. Larson Financial Group LLC grew its position in Sysco by 84.5% in the third quarter. Larson Financial Group LLC now owns 2,234 shares of the company’s stock worth $174,000 after acquiring an additional 1,023 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of Sysco during the 3rd quarter valued at about $98,000. Transamerica Financial Advisors Inc. grew its holdings in Sysco by 19.5% during the third quarter. Transamerica Financial Advisors Inc. now owns 2,346 shares of the company’s stock valued at $184,000 after purchasing an additional 383 shares during the last quarter. Finally, Townsquare Capital LLC raised its position in shares of Sysco by 10.0% in the third quarter. Townsquare Capital LLC now owns 18,758 shares of the company’s stock valued at $1,464,000 after purchasing an additional 1,706 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Insider Buying and Selling at Sysco

In related news, EVP Greg D. Bertrand sold 48,027 shares of Sysco 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 sale, the executive vice president now owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Sysco Trading Up 1.7 %

NYSE SYY opened at $73.99 on Friday. Sysco Co. has a one year low of $69.03 and a one year high of $82.23. 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 business has a 50 day simple moving average of $72.97 and a 200 day simple moving average of $75.18. The stock has a market capitalization of $36.20 billion, a P/E ratio of 19.02, a P/E/G ratio of 1.88 and a beta of 1.11.

Sysco (NYSE:SYY) last posted 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 2.40% and a return on equity of 106.30%. During the same period in the prior year, the company posted $0.89 earnings per share. Research analysts expect that Sysco Co. will post 4.58 earnings per share for the current 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 given a $0.51 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 annualized dividend and a yield of 2.76%. Sysco’s dividend payout ratio is currently 52.44%.

Analyst Upgrades and Downgrades

SYY has been the subject of several recent analyst reports. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 20th. Truist Financial reduced their price objective on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Barclays dropped their target price on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Melius Research upgraded shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. Finally, UBS Group cut their price objective on shares of Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.