Natixis Sells 7,483 Shares of Sysco Co. (NYSE:SYY)

Natixis lowered its holdings in shares of Sysco Co. (NYSE:SYY - Free Report) by 12.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,583 shares of the company's stock after selling 7,483 shares during the quarter. Natixis' holdings in Sysco were worth $3,944,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Buckley Wealth Management LLC raised its position in shares of Sysco by 0.8% during the fourth quarter. Buckley Wealth Management LLC now owns 18,188 shares of the company's stock worth $1,391,000 after purchasing an additional 150 shares during the period. WR Wealth Planners LLC raised its position in shares of Sysco by 9.9% during the fourth quarter. WR Wealth Planners LLC now owns 4,270 shares of the company's stock worth $326,000 after purchasing an additional 386 shares during the period. Clark & Stuart Inc bought a new position in shares of Sysco during the fourth quarter worth about $7,613,000. Boston Trust Walden Corp grew its holdings in shares of Sysco by 179.5% during the fourth quarter. Boston Trust Walden Corp now owns 804,345 shares of the company's stock worth $61,500,000 after buying an additional 516,585 shares in the last quarter. Finally, Lmcg Investments LLC bought a new position in shares of Sysco during the fourth quarter worth about $3,668,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SYY shares. Sanford C. Bernstein set a $87.00 price objective on Sysco and gave the stock an "overweight" rating in a report on Tuesday, April 22nd. StockNews.com downgraded Sysco from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 20th. Barclays increased their price objective on Sysco from $85.00 to $87.00 and gave the stock an "overweight" rating in a report on Tuesday, April 22nd. Truist Financial decreased their price target on Sysco from $85.00 to $83.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Finally, UBS Group decreased their price target on Sysco from $87.00 to $86.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, Sysco presently has an average rating of "Moderate Buy" and a consensus price target of $85.07.

Sysco Trading Down 2.3 %

Sysco stock traded down $1.68 during mid-day trading on Friday, hitting $70.86. 3,719,482 shares of the stock were exchanged, compared to its average volume of 3,362,262. 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 12 month low of $67.12 and a 12 month high of $82.23. The firm's fifty day simple moving average is $72.80 and its two-hundred day simple moving average is $74.44. The stock has a market capitalization of $34.67 billion, a price-to-earnings ratio of 18.22, a PEG ratio of 1.88 and a beta of 0.91.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period last year, the company posted $0.89 earnings per share. Analysts forecast that Sysco Co. will post 4.58 EPS for the current year.

Sysco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be given a $0.54 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $2.16 annualized dividend and a yield of 3.05%. This is an increase from Sysco's previous quarterly dividend of $0.51. Sysco's dividend payout ratio (DPR) is presently 55.53%.

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.