Sysco Co. (NYSE:SYY) Shares Sold by Busey Bank

Busey Bank decreased its position in shares of Sysco Co. (NYSE:SYY) by 2.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,294 shares of the company’s stock after selling 882 shares during the quarter. Busey Bank’s holdings in Sysco were worth $2,852,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. DMC Group LLC acquired a new stake in Sysco during the fourth quarter valued at $205,000. Sumitomo Life Insurance Co. boosted its stake in shares of Sysco by 24.6% during the 4th quarter. Sumitomo Life Insurance Co. now owns 93,297 shares of the company’s stock worth $7,133,000 after acquiring an additional 18,435 shares in the last quarter. Stonegate Investment Group LLC grew its position in shares of Sysco by 67.2% during the 4th quarter. Stonegate Investment Group LLC now owns 4,723 shares of the company’s stock valued at $361,000 after acquiring an additional 1,899 shares during the period. Perigon Wealth Management LLC increased its stake in shares of Sysco by 10.1% in the 4th quarter. Perigon Wealth Management LLC now owns 7,320 shares of the company’s stock valued at $536,000 after purchasing an additional 672 shares in the last quarter. Finally, BankPlus Wealth Management LLC acquired a new position in Sysco in the 4th quarter worth about $296,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on SYY shares. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday. Melius began coverage on shares of Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price target for the company. Guggenheim reaffirmed a “buy” rating and set a $85.00 price objective on shares of Sysco in a report on Wednesday. Wells Fargo & Company cut their target price on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Finally, Truist Financial decreased their price target on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Sysco currently has an average rating of “Moderate Buy” and a consensus target price of $85.21.

Sysco Stock Down 0.4 %

NYSE SYY opened at $71.96 on Thursday. The business’s fifty day simple moving average is $76.43 and its 200-day simple moving average is $76.03. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. The firm has a market cap of $35.35 billion, a PE ratio of 18.50, a P/E/G ratio of 2.04 and a beta of 1.18. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.89.

Sysco (NYSE:SYY) last posted its 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 net margin of 2.44% and a return on equity of 101.04%. During the same period last year, the business posted $0.89 EPS. As a group, equities analysts anticipate that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 24th. Shareholders of record on Friday, January 3rd were paid a dividend of $0.51 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $2.04 annualized dividend and a yield of 2.83%. Sysco’s dividend payout ratio (DPR) is 52.44%.

Insider Buying and Selling at Sysco

In other Sysco news, SVP Eve M. Mcfadden sold 6,499 shares of Sysco stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $519,920.00. Following the completion of the sale, the senior vice president now directly owns 48,451 shares in the company, valued at $3,876,080. This trade represents a 11.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Greg D. Bertrand sold 48,027 shares of the company’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 transaction, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 83,306 shares of company stock worth $6,485,050 over the last quarter. 0.54% of the stock is currently owned by company insiders.

Sysco 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.