Keybank National Association OH Increases Stock Position in Sysco Co. (NYSE:SYY)

Keybank National Association OH boosted its position in shares of Sysco Co. (NYSE:SYY) by 16.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,824 shares of the company’s stock after buying an additional 3,086 shares during the quarter. Keybank National Association OH’s holdings in Sysco were worth $1,669,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp grew its position in shares of Sysco by 11.1% during the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after acquiring an additional 2,721,449 shares during the period. Diamond Hill Capital Management Inc. grew its holdings in Sysco by 11.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock valued at $521,874,000 after purchasing an additional 672,940 shares during the period. Primecap Management Co. CA increased its position in shares of Sysco by 9.7% in the third quarter. Primecap Management Co. CA now owns 4,796,439 shares of the company’s stock valued at $374,410,000 after buying an additional 422,954 shares in the last quarter. Montrusco Bolton Investments Inc. raised its stake in shares of Sysco by 8.5% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 4,790,665 shares of the company’s stock worth $366,789,000 after buying an additional 375,409 shares during the period. Finally, Janus Henderson Group PLC grew its stake in Sysco by 4.1% in the 3rd quarter. Janus Henderson Group PLC now owns 4,265,723 shares of the company’s stock valued at $332,983,000 after acquiring an additional 168,163 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

SYY has been the topic of several recent analyst reports. 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 report on Tuesday, February 4th. Truist Financial reduced their target price on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Barclays lowered their price target on Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Melius Research raised Sysco to a “hold” rating in a research note on Wednesday, December 18th. Finally, Guggenheim reaffirmed a “buy” rating and set a $85.00 target price on shares of Sysco in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $84.77.

Sysco Stock Performance

NYSE:SYY opened at $75.04 on Friday. The company’s 50-day moving average is $73.47 and its two-hundred day moving average is $75.62. The firm has a market capitalization of $36.71 billion, a price-to-earnings ratio of 19.29, a PEG ratio of 1.88 and a beta of 1.17. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. 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 data on Tuesday, January 28th. The company reported $0.93 earnings per share 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 period last year, the business earned $0.89 earnings per share. Analysts forecast that Sysco Co. will post 4.58 EPS for the current year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be issued 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 2.72%. Sysco’s dividend payout ratio (DPR) is currently 52.44%.

Insider Buying and Selling at Sysco

In other 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 transaction, the executive vice president now directly owns 56,304 shares in the company, valued at approximately $4,335,408. This represents a 46.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

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.