Axa S.A. Reduces Holdings in Sysco Co. (NYSE:SYY)

AXA S.A. decreased its holdings in Sysco Co. (NYSE:SYY - Free Report) by 32.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,323 shares of the company's stock after selling 24,529 shares during the quarter. AXA S.A.'s holdings in Sysco were worth $3,848,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in SYY. MV Capital Management Inc. raised its holdings in shares of Sysco by 0.4% during the fourth quarter. MV Capital Management Inc. now owns 34,330 shares of the company's stock worth $2,625,000 after purchasing an additional 144 shares during the last quarter. Morton Community Bank grew its position in Sysco by 0.4% during the 4th quarter. Morton Community Bank now owns 40,585 shares of the company's stock worth $3,103,000 after purchasing an additional 145 shares during the period. Nemes Rush Group LLC raised its stake in shares of Sysco by 5.9% during the 4th quarter. Nemes Rush Group LLC now owns 2,631 shares of the company's stock valued at $201,000 after buying an additional 147 shares during the last quarter. SRS Capital Advisors Inc. lifted its holdings in shares of Sysco by 53.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock valued at $33,000 after buying an additional 149 shares during the period. Finally, FineMark National Bank & Trust boosted its stake in shares of Sysco by 1.8% in the fourth quarter. FineMark National Bank & Trust now owns 8,580 shares of the company's stock worth $656,000 after buying an additional 149 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors.

Insider Transactions at Sysco

In related news, Director Sheila Talton sold 356 shares of Sysco 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 in the company, valued at approximately $902,359.92. This trade represents a 2.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.54% of the company's stock.

Sysco Price Performance

Shares of NYSE SYY traded down $0.30 during midday trading on Tuesday, hitting $71.63. The stock had a trading volume of 739,265 shares, compared to its average volume of 3,351,185. 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 Co. has a 1 year low of $67.12 and a 1 year high of $82.23. The company has a market capitalization of $34.72 billion, a PE ratio of 18.41, a P/E/G ratio of 1.88 and a beta of 0.80. The stock has a 50 day simple moving average of $72.11 and a 200-day simple moving average of $74.12.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 earnings per share for the quarter, missing analysts' consensus estimates of $1.02 by ($0.06). Sysco had a net margin of 2.40% and a return on equity of 106.30%. The firm had revenue of $19.60 billion during the quarter, compared to analysts' expectations of $20.11 billion. During the same quarter in the previous year, the business posted $0.96 EPS. The company's revenue for the quarter was up 1.1% on a year-over-year basis. On average, sell-side analysts expect that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be issued a $0.54 dividend. This is an increase from Sysco's previous quarterly dividend of $0.51. The ex-dividend date is Thursday, July 3rd. This represents a $2.16 dividend on an annualized basis and a yield of 3.02%. Sysco's dividend payout ratio is presently 55.96%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SYY shares. Truist Financial decreased their price target on Sysco from $85.00 to $83.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. UBS Group lowered their price target on shares of Sysco from $86.00 to $83.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Wells Fargo & Company dropped their price target on shares of Sysco from $87.00 to $80.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Sanford C. Bernstein set a $87.00 price objective on shares of Sysco and gave the stock an "overweight" rating in a research report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. dropped their target price on Sysco from $86.00 to $82.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 4th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $83.38.

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.