Sysco Co. (NYSE:SYY) Stake Decreased by Truist Financial Corp

Truist Financial Corp lowered its stake in shares of Sysco Co. (NYSE:SYY - Free Report) by 16.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 354,779 shares of the company's stock after selling 68,753 shares during the quarter. Truist Financial Corp owned about 0.07% of Sysco worth $25,945,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in SYY. AdvisorNet Financial Inc raised its position in Sysco by 74.0% during the 4th quarter. AdvisorNet Financial Inc now owns 374 shares of the company's stock worth $27,000 after buying an additional 159 shares during the last quarter. Hexagon Capital Partners LLC lifted its position in Sysco by 74.6% in the third quarter. Hexagon Capital Partners LLC now owns 419 shares of the company's stock valued at $28,000 after purchasing an additional 179 shares during the period. BluePath Capital Management LLC purchased a new stake in Sysco in the 3rd quarter valued at approximately $38,000. Milestone Investment Advisors LLC acquired a new position in Sysco during the 3rd quarter worth approximately $40,000. Finally, AllSquare Wealth Management LLC purchased a new position in shares of Sysco during the 3rd quarter worth approximately $42,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Stephens upped their price objective on Sysco from $80.00 to $90.00 and gave the stock an "overweight" rating in a report on Wednesday, January 31st. StockNews.com downgraded shares of Sysco from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 1st. BMO Capital Markets boosted their price objective on shares of Sysco from $85.00 to $90.00 and gave the stock an "outperform" rating in a report on Wednesday, January 31st. Barclays increased their target price on shares of Sysco from $85.00 to $90.00 and gave the company an "overweight" rating in a report on Wednesday, January 31st. Finally, JPMorgan Chase & Co. boosted their price target on Sysco from $84.00 to $87.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 19th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $85.38.

Insiders Place Their Bets

In other news, CAO Neil Russell sold 1,722 shares of the business's stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total value of $137,760.00. Following the completion of the transaction, the chief accounting officer now owns 24,082 shares of the company's stock, valued at $1,926,560. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.58% of the stock is owned by corporate insiders.

Sysco Price Performance

Shares of Sysco stock traded down $2.90 during trading on Tuesday, hitting $74.32. 7,972,734 shares of the company were exchanged, compared to its average volume of 2,948,538. Sysco Co. has a fifty-two week low of $62.24 and a fifty-two week high of $82.89. The company has a quick ratio of 0.80, a current ratio of 1.37 and a debt-to-equity ratio of 5.00. The firm has a 50 day moving average price of $79.02 and a 200 day moving average price of $75.11. The stock has a market capitalization of $37.00 billion, a price-to-earnings ratio of 18.17, a P/E/G ratio of 1.56 and a beta of 1.15.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings results on Tuesday, January 30th. The company reported $0.89 earnings per share for the quarter, topping analysts' consensus estimates of $0.88 by $0.01. The company had revenue of $19.29 billion during the quarter, compared to analysts' expectations of $19.32 billion. Sysco had a return on equity of 105.22% and a net margin of 2.69%. The business's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.80 earnings per share. On average, equities analysts expect that Sysco Co. will post 4.33 earnings per share for the current fiscal year.

Sysco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be paid a $0.51 dividend. This is an increase from Sysco's previous quarterly dividend of $0.50. The ex-dividend date is Friday, July 5th. This represents a $2.04 annualized dividend and a yield of 2.74%. Sysco's payout ratio is presently 48.90%.

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.