Y Intercept Hong Kong Ltd reduced its holdings in Sysco Co. (NYSE:SYY – Get Rating) by 65.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,487 shares of the company’s stock after selling 4,743 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Sysco were worth $211,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Sysco by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 45,402,613 shares of the company’s stock worth $3,707,123,000 after purchasing an additional 409,441 shares during the period. Wellington Management Group LLP boosted its stake in shares of Sysco by 11.1% in the first quarter. Wellington Management Group LLP now owns 35,539,582 shares of the company’s stock worth $2,901,806,000 after buying an additional 3,536,646 shares during the last quarter. BlackRock Inc. raised its position in Sysco by 0.5% during the first quarter. BlackRock Inc. now owns 31,668,083 shares of the company’s stock valued at $2,585,695,000 after acquiring an additional 148,215 shares in the last quarter. State Street Corp lifted its holdings in Sysco by 2.0% in the first quarter. State Street Corp now owns 24,545,969 shares of the company’s stock valued at $2,015,561,000 after acquiring an additional 477,454 shares during the period. Finally, Victory Capital Management Inc. boosted its position in Sysco by 4.9% in the 2nd quarter. Victory Capital Management Inc. now owns 6,416,753 shares of the company’s stock worth $543,564,000 after purchasing an additional 301,265 shares in the last quarter. Institutional investors and hedge funds own 82.43% of the company’s stock.
Sysco Stock Performance
NYSE SYY opened at $84.47 on Friday. The company has a market cap of $42.81 billion, a PE ratio of 29.95, a price-to-earnings-growth ratio of 1.81 and a beta of 1.11. The stock’s 50 day simple moving average is $78.80 and its 200-day simple moving average is $82.28. Sysco Co. has a 1-year low of $68.05 and a 1-year high of $91.53. The company has a debt-to-equity ratio of 9.20, a current ratio of 1.20 and a quick ratio of 0.68.
Sysco Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 28th. Investors of record on Friday, October 7th were given a dividend of $0.49 per share. The ex-dividend date was Thursday, October 6th. This represents a $1.96 dividend on an annualized basis and a yield of 2.32%. Sysco’s payout ratio is 69.50%.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the stock. Argus increased their price target on shares of Sysco from $92.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, November 2nd. Morgan Stanley upped their price target on Sysco from $84.00 to $86.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 2nd. Credit Suisse Group reduced their price target on Sysco from $107.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, August 10th. Stephens began coverage on Sysco in a report on Thursday, September 22nd. They issued an “overweight” rating and a $90.00 price target for the company. Finally, Truist Financial reduced their price target on Sysco from $98.00 to $92.00 and set a “buy” rating for the company in a report on Wednesday, August 10th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $92.00.
Insider Buying and Selling
In related news, CEO Kevin Hourican sold 75,019 shares of Sysco stock in a transaction that occurred on Monday, October 24th. The stock was sold at an average price of $81.22, for a total transaction of $6,093,043.18. Following the transaction, the chief executive officer now owns 303,643 shares in the company, valued at $24,661,884.46. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Kevin Hourican sold 75,019 shares of Sysco stock in a transaction that occurred on Monday, October 24th. The stock was sold at an average price of $81.22, for a total transaction of $6,093,043.18. Following the transaction, the chief executive officer now owns 303,643 shares in the company, valued at $24,661,884.46. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Greg D. Bertrand sold 12,000 shares of Sysco stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $85.00, for a total value of $1,020,000.00. Following the transaction, the executive vice president now owns 40,931 shares in the company, valued at approximately $3,479,135. The disclosure for this sale can be found here. 0.43% of the stock is currently owned by company insiders.
Sysco Company Profile
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Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products primarily 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.
Further Reading
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