Allstate Corp Buys New Stake in Sysco Co. (NYSE:SYY)

Allstate Corp purchased a new position in shares of Sysco Co. (NYSE:SYY) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 14,695 shares of the company’s stock, valued at approximately $1,124,000.

Several other institutional investors and hedge funds have also made changes to their positions in SYY. Townsquare Capital LLC boosted its holdings in 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 in the last quarter. Financial Counselors Inc. lifted its position in shares of Sysco by 5.0% during the 3rd quarter. Financial Counselors Inc. now owns 10,794 shares of the company’s stock worth $843,000 after buying an additional 516 shares during the last quarter. Captrust Financial Advisors lifted its position in shares of Sysco by 7.7% during the 3rd quarter. Captrust Financial Advisors now owns 124,341 shares of the company’s stock worth $9,706,000 after buying an additional 8,891 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Sysco in the 3rd quarter valued at $5,961,000. Finally, Morton Community Bank grew its position in shares of Sysco by 1.2% in the 3rd quarter. Morton Community Bank now owns 40,440 shares of the company’s stock valued at $3,157,000 after buying an additional 475 shares during the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now owns 56,304 shares in the company, valued at $4,335,408. This trade represents a 46.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.54% of the company’s stock.

Sysco Stock Up 0.1 %

SYY stock opened at $74.10 on Monday. 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 quick ratio of 0.68 and a current ratio of 1.20. The company has a fifty day moving average of $72.99 and a 200-day moving average of $75.12. The stock has a market capitalization of $36.25 billion, a PE ratio of 19.05, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11.

Sysco (NYSE:SYY) last announced its quarterly earnings data 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 return on equity of 106.30% and a net margin of 2.40%. During the same period last year, the firm posted $0.89 EPS. As a group, analysts expect that Sysco Co. will post 4.58 EPS for the current year.

Sysco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s dividend payout ratio (DPR) is currently 52.44%.

Wall Street Analyst Weigh In

SYY has been the subject of several research analyst reports. Truist Financial decreased their price objective on shares of Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Guggenheim restated a “buy” rating and set a $85.00 price target on shares of Sysco in a research note on Wednesday, January 29th. Melius Research raised Sysco to a “hold” rating in a research report on Wednesday, December 18th. StockNews.com downgraded Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. Finally, Melius started coverage on shares of Sysco in a report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus 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.