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

Sandy Spring Bank lessened its stake in shares of Sysco Co. (NYSE:SYY) by 2.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,508 shares of the company’s stock after selling 242 shares during the period. Sandy Spring Bank’s holdings in Sysco were worth $651,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of SYY. Prospera Financial Services Inc raised its holdings in Sysco by 8.1% in the 3rd quarter. Prospera Financial Services Inc now owns 13,939 shares of the company’s stock valued at $1,088,000 after acquiring an additional 1,041 shares during the last quarter. Advisors Asset Management Inc. acquired a new stake in Sysco in the 3rd quarter valued at about $464,000. First Horizon Advisors Inc. raised its holdings in Sysco by 2.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 13,064 shares of the company’s stock valued at $1,020,000 after acquiring an additional 349 shares during the last quarter. Intech Investment Management LLC raised its holdings in Sysco by 86.6% in the 3rd quarter. Intech Investment Management LLC now owns 26,576 shares of the company’s stock valued at $2,075,000 after acquiring an additional 12,332 shares during the last quarter. Finally, Landscape Capital Management L.L.C. acquired a new stake in Sysco in the 3rd quarter valued at about $754,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Performance

NYSE:SYY opened at $71.12 on Friday. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. The stock has a market capitalization of $34.79 billion, a P/E ratio of 18.28, a PEG ratio of 1.88 and a beta of 1.11. The company has a 50 day moving average price of $73.10 and a 200 day moving average price of $75.36. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.33.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 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 previous year, the firm posted $0.89 earnings per share. Equities research analysts forecast that Sysco Co. will post 4.58 EPS for the current year.

Sysco Announces Dividend

The firm 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 annualized dividend and a yield of 2.87%. Sysco’s dividend payout ratio is presently 52.44%.

Insider Buying and Selling at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the firm’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 owns 56,304 shares of the company’s stock, valued at $4,335,408. This trade represents a 46.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on SYY shares. JPMorgan Chase & Co. cut their price objective on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Guggenheim restated a “buy” rating and set a $85.00 price target on shares of Sysco in a report on Wednesday, January 29th. Melius assumed coverage on shares of Sysco in a report on Wednesday, December 18th. They set a “hold” rating and a $85.00 price target for the company. Morgan Stanley cut their price target on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Finally, Truist Financial cut their price target on shares of Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.