Deutsche Bank AG Acquires 208,105 Shares of Sysco Co. (NYSE:SYY)

Deutsche Bank AG raised its holdings in Sysco Co. (NYSE:SYY - Free Report) by 17.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,409,097 shares of the company's stock after acquiring an additional 208,105 shares during the period. Deutsche Bank AG owned approximately 0.29% of Sysco worth $107,740,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Sysco by 9,792.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 980,616 shares of the company's stock worth $74,978,000 after buying an additional 970,703 shares during the last quarter. Crestline Management LP acquired a new stake in shares of Sysco during the 4th quarter worth approximately $229,000. Cetera Investment Advisers increased its holdings in shares of Sysco by 3.4% during the 4th quarter. Cetera Investment Advisers now owns 320,226 shares of the company's stock worth $24,484,000 after buying an additional 10,495 shares during the last quarter. Brevan Howard Capital Management LP acquired a new stake in shares of Sysco during the 4th quarter worth approximately $2,760,000. Finally, Cary Street Partners Financial LLC acquired a new stake in shares of Sysco during the 4th quarter worth approximately $5,318,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Sysco Stock Performance

NYSE:SYY traded up $0.28 during midday trading on Wednesday, reaching $71.08. The stock had a trading volume of 3,425,548 shares, compared to its average volume of 3,368,539. Sysco Co. has a 1-year low of $67.12 and a 1-year high of $82.23. The firm's fifty day simple moving average is $72.03 and its 200-day simple moving average is $74.09. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The stock has a market capitalization of $34.46 billion, a P/E ratio of 18.27, a PEG ratio of 1.88 and a beta of 0.80.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.06). The company had revenue of $19.60 billion during the quarter, compared to analyst estimates of $20.11 billion. Sysco had a return on equity of 106.30% and a net margin of 2.40%. The business's revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.96 earnings per share. On average, equities research analysts forecast 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. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.04%. This is an increase from Sysco's previous quarterly dividend of $0.51. The ex-dividend date is Thursday, July 3rd. Sysco's dividend payout ratio (DPR) is presently 55.96%.

Insider Transactions at Sysco

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on SYY. JPMorgan Chase & Co. dropped their target price on shares of Sysco from $86.00 to $82.00 and set an "overweight" rating for the company in a report on Tuesday, February 4th. Morgan Stanley reduced their price target on shares of Sysco from $79.00 to $77.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 29th. Truist Financial dropped their price objective on shares of Sysco from $85.00 to $83.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Guggenheim reiterated a "buy" rating and set a $85.00 price target on shares of Sysco in a research note on Wednesday, January 29th. Finally, BMO Capital Markets dropped their price target on shares of Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, Sysco currently has a consensus rating of "Moderate Buy" and an average price target of $83.38.

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.