Sysco Co. (NYSE:SYY) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. trimmed its holdings in shares of Sysco Co. (NYSE:SYY) by 4.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,839 shares of the company’s stock after selling 399 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Sysco were worth $676,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SYY. Boston Partners raised its stake in Sysco by 143.7% during the fourth quarter. Boston Partners now owns 12,184,114 shares of the company’s stock worth $930,296,000 after acquiring an additional 7,184,754 shares during the period. Norges Bank bought a new stake in shares of Sysco in the 4th quarter worth approximately $450,441,000. State Street Corp boosted its position in Sysco by 11.1% during the 3rd quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after purchasing an additional 2,721,449 shares during the period. Mondrian Investment Partners LTD bought a new position in Sysco during the 4th quarter worth $123,928,000. Finally, Raymond James Financial Inc. acquired a new stake in Sysco in the fourth quarter worth $97,078,000. 83.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SYY has been the subject of several analyst reports. UBS Group reduced their price target 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 shares of Sysco to a “hold” rating in a research report on Wednesday, December 18th. Wells Fargo & Company raised their price target on shares of Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. reduced their price objective on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research report on Tuesday, February 4th. Finally, Guggenheim restated a “buy” rating and issued a $85.00 target price on shares of Sysco in a research report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $84.77.

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 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 transaction, the executive vice president now directly 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 filing with the SEC, which is available through this link. 0.54% of the stock is owned by corporate insiders.

Sysco Trading Up 0.1 %

Shares of Sysco stock opened at $74.10 on Friday. The business has a fifty day simple moving average of $72.99 and a 200-day simple moving average of $75.13. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.23. The firm has a market cap of $36.25 billion, a price-to-earnings ratio of 19.05, a price-to-earnings-growth 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 issued its quarterly 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 business posted $0.89 earnings per share. On average, equities analysts forecast that Sysco Co. will post 4.58 EPS for the current fiscal 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 is Friday, April 4th. This represents a $2.04 annualized dividend and a yield of 2.75%. Sysco’s dividend payout ratio (DPR) is 52.44%.

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.