Inceptionr LLC Decreases Stake in Sysco Co. (NYSE:SYY)

Inceptionr LLC lowered its position in shares of Sysco Co. (NYSE:SYY) by 82.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,251 shares of the company’s stock after selling 20,106 shares during the quarter. Inceptionr LLC’s holdings in Sysco were worth $325,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp boosted its position in Sysco by 11.1% in the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock worth $2,130,617,000 after purchasing an additional 2,721,449 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in Sysco during the third quarter valued at about $137,900,000. Raymond James Financial Inc. purchased a new stake in Sysco during the fourth quarter worth about $97,078,000. Nordea Investment Management AB raised its position in Sysco by 52.3% in the fourth quarter. Nordea Investment Management AB now owns 2,719,478 shares of the company’s stock worth $208,666,000 after acquiring an additional 933,327 shares during the period. Finally, Diamond Hill Capital Management Inc. boosted its stake 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 acquiring an additional 672,940 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Melius Research upgraded shares of Sysco to a “hold” rating in a research note on Wednesday, December 18th. Truist Financial lowered their target price on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Wells Fargo & Company increased their price target on Sysco from $82.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Jefferies Financial Group boosted their price objective on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Finally, UBS Group dropped their price target on shares of Sysco from $87.00 to $86.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Sysco presently has an average rating of “Moderate Buy” and an average price target of $84.77.

Sysco Price Performance

Shares of NYSE SYY opened at $76.53 on Monday. The stock’s 50-day simple moving average is $73.47 and its two-hundred day simple moving average is $75.60. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.33. The firm has a market capitalization of $37.44 billion, a P/E ratio of 19.67, a P/E/G ratio of 1.88 and a beta of 1.11. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates 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 earned $0.89 EPS. As a group, equities analysts anticipate that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors 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 2.67%. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Insider Activity at Sysco

In other news, EVP Greg D. Bertrand sold 48,027 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was 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 approximately $4,335,408. This represents a 46.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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.