D. E. Shaw & Co. Inc. Sells 270,767 Shares of Sysco Co. (NYSE:SYY)

D. E. Shaw & Co. Inc. decreased its holdings in Sysco Co. (NYSE:SYY) by 26.1% in the 4th quarter, HoldingsChannel reports. The firm owned 766,008 shares of the company’s stock after selling 270,767 shares during the quarter. D. E. Shaw & Co. Inc.’s holdings in Sysco were worth $58,569,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. MV Capital Management Inc. lifted its position in Sysco by 0.4% during the 4th quarter. MV Capital Management Inc. now owns 34,330 shares of the company’s stock worth $2,625,000 after buying an additional 144 shares in the last quarter. Morton Community Bank lifted its position in shares of Sysco by 0.4% during the fourth quarter. Morton Community Bank now owns 40,585 shares of the company’s stock worth $3,103,000 after purchasing an additional 145 shares in the last quarter. Nemes Rush Group LLC grew its stake in shares of Sysco by 5.9% during the fourth quarter. Nemes Rush Group LLC now owns 2,631 shares of the company’s stock valued at $201,000 after purchasing an additional 147 shares during the last quarter. SRS Capital Advisors Inc. increased its holdings in shares of Sysco by 53.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after purchasing an additional 149 shares in the last quarter. Finally, FineMark National Bank & Trust raised its position in Sysco by 1.8% in the 4th quarter. FineMark National Bank & Trust now owns 8,580 shares of the company’s stock worth $656,000 after purchasing an additional 149 shares during the last quarter. Institutional investors own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

SYY has been the subject of several research reports. Guggenheim reissued a “buy” rating and issued a $85.00 target price on shares of Sysco in a research note on Wednesday, January 29th. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. UBS Group cut their target price on shares of Sysco from $86.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. BMO Capital Markets lowered their price target on shares of Sysco from $82.00 to $77.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Finally, Truist Financial cut their price objective on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.38.

Sysco Stock Down 1.2 %

Shares of SYY stock opened at $70.77 on Friday. The company has a market capitalization of $34.31 billion, a price-to-earnings ratio of 18.19, a P/E/G ratio of 1.88 and a beta of 0.80. Sysco Co. has a 12-month low of $67.12 and a 12-month high of $82.23. The firm has a fifty day moving average of $72.16 and a 200-day moving average of $74.13. 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 posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.06). The firm had revenue of $19.60 billion for the quarter, compared to the consensus estimate of $20.11 billion. Sysco had a return on equity of 106.30% and a net margin of 2.40%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.96 earnings per share. As a group, equities research analysts predict that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.05%. This is an increase from Sysco’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Thursday, July 3rd. Sysco’s dividend payout ratio is currently 55.96%.

Insider Activity

In other Sysco news, Director Sheila Talton sold 356 shares of the business’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $70.84, for a total transaction of $25,219.04. Following the transaction, the director now owns 12,738 shares of the company’s stock, valued at $902,359.92. The trade was a 2.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.54% of the stock is owned by corporate 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.