Sysco Co. (NYSE:SYY) Holdings Raised by Amundi

Amundi grew its stake in shares of Sysco Co. (NYSE:SYY) by 42.2% during the 4th quarter, HoldingsChannel reports. The fund owned 2,730,010 shares of the company’s stock after acquiring an additional 809,582 shares during the period. Amundi’s holdings in Sysco were worth $204,341,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in Sysco in the third quarter valued at about $26,000. Valley Wealth Managers Inc. acquired a new stake in shares of Sysco during the 3rd quarter valued at about $31,000. Stonebridge Financial Group LLC bought a new stake in shares of Sysco in the 4th quarter valued at approximately $31,000. Sherman Asset Management Inc. acquired a new position in Sysco in the fourth quarter worth approximately $31,000. Finally, SRS Capital Advisors Inc. raised its position in Sysco by 53.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after acquiring an additional 149 shares in the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SYY has been the subject of several recent research reports. Jefferies Financial Group boosted their target price on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. UBS Group decreased their price objective on shares of Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Melius Research upgraded Sysco to a “hold” rating in a report on Wednesday, December 18th. Truist Financial decreased their price target on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. cut their price objective on Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $84.77.

Insider Buying and Selling at Sysco

In other news, EVP Greg D. Bertrand sold 48,027 shares of the business’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 sale, the executive vice president now directly owns 56,304 shares in the company, valued at approximately $4,335,408. The trade was a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.54% of the company’s stock.

Sysco Stock Up 1.9 %

SYY opened at $76.53 on Monday. Sysco Co. has a 1-year low of $69.03 and a 1-year high of $82.33. The business has a 50 day moving average of $73.47 and a 200-day moving average of $75.60. The stock has a market capitalization of $37.44 billion, a price-to-earnings ratio of 19.67, a P/E/G ratio of 1.88 and a beta of 1.11. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, hitting 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 last year, the business posted $0.89 EPS. As a group, sell-side analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, April 4th. This represents a $2.04 annualized dividend and a yield of 2.67%. Sysco’s dividend payout ratio is 52.44%.

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.