D.A. Davidson & CO. Decreases Holdings in Sysco Corporation $SYY

D.A. Davidson & CO. cut its holdings in shares of Sysco Corporation (NYSE:SYY - Free Report) by 10.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 171,514 shares of the company's stock after selling 19,694 shares during the quarter. D.A. Davidson & CO.'s holdings in Sysco were worth $12,639,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Jackson Grant Investment Advisers Inc. purchased a new position in shares of Sysco in the third quarter worth about $25,000. Harbor Capital Advisors Inc. increased its stake in shares of Sysco by 75.0% in the third quarter. Harbor Capital Advisors Inc. now owns 315 shares of the company's stock worth $26,000 after buying an additional 135 shares during the period. Peterson Wealth Services increased its stake in shares of Sysco by 875.7% in the third quarter. Peterson Wealth Services now owns 361 shares of the company's stock worth $30,000 after buying an additional 324 shares during the period. Marquette Asset Management LLC increased its stake in shares of Sysco by 367.4% in the fourth quarter. Marquette Asset Management LLC now owns 402 shares of the company's stock worth $30,000 after buying an additional 316 shares during the period. Finally, Darwin Wealth Management LLC purchased a new position in shares of Sysco in the second quarter worth $31,000. Hedge funds and other institutional investors own 83.41% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Argus raised shares of Sysco to a "hold" rating in a research note on Thursday, January 29th. Piper Sandler decreased their target price on shares of Sysco from $83.00 to $77.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 7th. Wells Fargo & Company boosted their price target on Sysco from $92.00 to $100.00 and gave the company an "overweight" rating in a report on Thursday, February 19th. Weiss Ratings downgraded Sysco from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, March 30th. Finally, Truist Financial boosted their price target on Sysco from $90.00 to $94.00 and gave the company a "buy" rating in a report on Wednesday, January 28th. Nine investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $87.85.

Insider Activity

In other news, Director Sheila Talton sold 2,801 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $82.99, for a total value of $232,454.99. Following the completion of the transaction, the director owned 12,868 shares of the company's stock, valued at approximately $1,067,915.32. This represents a 17.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.56% of the company's stock.

Sysco Stock Down 1.7%

Shares of Sysco stock opened at $75.26 on Tuesday. The company has a current ratio of 1.30, a quick ratio of 0.75 and a debt-to-equity ratio of 5.45. The company's fifty day simple moving average is $80.88 and its two-hundred day simple moving average is $78.51. The company has a market cap of $36.05 billion, a P/E ratio of 20.23, a PEG ratio of 2.76 and a beta of 0.69. Sysco Corporation has a 12-month low of $68.00 and a 12-month high of $91.85.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings data on Tuesday, January 27th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.98 by $0.01. The business had revenue of $20.76 billion for the quarter, compared to the consensus estimate of $20.80 billion. Sysco had a net margin of 2.17% and a return on equity of 109.21%. The company's quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.93 EPS. Research analysts anticipate that Sysco Corporation will post 4.59 EPS for the current year.

Sysco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 24th. Shareholders of record on Thursday, July 2nd will be issued a dividend of $0.55 per share. This is a positive change from Sysco's previous quarterly dividend of $0.54. The ex-dividend date is Thursday, July 2nd. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.9%. Sysco's dividend payout ratio (DPR) is currently 59.14%.

Sysco Company Profile

Sysco Corporation NYSE: SYY is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.

Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.

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