DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Buys 970,703 Shares of Sysco Co. (NYSE:SYY)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of Sysco Co. (NYSE:SYY - Free Report) by 9,792.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 980,616 shares of the company's stock after purchasing an additional 970,703 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main owned approximately 0.20% of Sysco worth $74,978,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parvin Asset Management LLC bought a new position in shares of Sysco in the fourth quarter valued at approximately $29,000. Stonebridge Financial Group LLC acquired a new position in Sysco in the fourth quarter worth $31,000. Flagship Wealth Advisors LLC bought a new stake in shares of Sysco during the fourth quarter worth $31,000. Sherman Asset Management Inc. acquired a new stake in shares of Sysco in the fourth quarter valued at $31,000. Finally, SRS Capital Advisors Inc. raised 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 buying an additional 149 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on SYY. Sanford C. Bernstein set a $87.00 price objective on shares of Sysco and gave the company an "overweight" rating in a research report on Tuesday, April 22nd. UBS Group dropped their price objective on shares of Sysco from $86.00 to $83.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Truist Financial decreased their price objective on Sysco from $85.00 to $83.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Barclays dropped their target price on Sysco from $87.00 to $77.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Finally, Morgan Stanley decreased their price target on Sysco from $79.00 to $77.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $83.38.

Sysco Trading Down 1.2 %

Sysco stock traded down $0.83 during midday trading on Friday, hitting $70.77. 2,400,998 shares of the stock were exchanged, compared to its average volume of 3,361,300. The stock has a market capitalization of $34.31 billion, a PE ratio of 18.19, a P/E/G ratio of 1.88 and a beta of 0.80. The company has a fifty day simple moving average of $72.16 and a two-hundred day simple 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 Co. has a 52 week low of $67.12 and a 52 week high of $82.23.

Sysco (NYSE:SYY - Get Free Report) last announced 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 firm had revenue of $19.60 billion during the quarter, compared to analyst estimates of $20.11 billion. Sysco had a net margin of 2.40% and a return on equity of 106.30%. Sysco's quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the firm earned $0.96 EPS. Equities research analysts anticipate 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 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend is Thursday, July 3rd. This is a boost from Sysco's previous quarterly dividend of $0.51. Sysco's payout ratio is 55.96%.

Insider Activity at Sysco

In other news, Director Sheila Talton sold 356 shares of the company's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $70.84, for a total transaction of $25,219.04. Following the completion of the transaction, the director now directly owns 12,738 shares of the company's stock, valued at $902,359.92. This represents a 2.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.54% of the stock is owned by 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.