Sysco Co. (NYSE:SYY) Stock Holdings Lessened by National Bank of Canada FI

National Bank of Canada FI lessened its holdings in shares of Sysco Co. (NYSE:SYY - Free Report) by 32.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 304,615 shares of the company's stock after selling 149,408 shares during the period. National Bank of Canada FI owned 0.06% of Sysco worth $22,669,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Invesco Ltd. grew its stake in shares of Sysco by 11.0% in the 3rd quarter. Invesco Ltd. now owns 10,859,690 shares of the company's stock valued at $717,283,000 after buying an additional 1,076,287 shares during the period. Northern Trust Corp grew its stake in shares of Sysco by 3.0% in the 3rd quarter. Northern Trust Corp now owns 6,138,310 shares of the company's stock valued at $405,435,000 after buying an additional 178,464 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Sysco by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,738,940 shares of the company's stock valued at $180,907,000 after buying an additional 21,700 shares during the period. Clarkston Capital Partners LLC grew its stake in shares of Sysco by 0.4% in the 3rd quarter. Clarkston Capital Partners LLC now owns 2,320,060 shares of the company's stock valued at $153,240,000 after buying an additional 9,385 shares during the period. Finally, Primecap Management Co. CA grew its stake in shares of Sysco by 2.2% in the 3rd quarter. Primecap Management Co. CA now owns 2,158,250 shares of the company's stock valued at $142,552,000 after buying an additional 45,505 shares during the period. Hedge funds and other institutional investors own 83.41% of the company's stock.

Insider Activity

In related news, CAO Neil Russell sold 1,722 shares of Sysco stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total transaction of $137,760.00. Following the sale, the chief accounting officer now directly owns 24,082 shares in the company, valued at approximately $1,926,560. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.58% of the company's stock.

Sysco Stock Up 0.5 %

Shares of SYY traded up $0.36 during midday trading on Tuesday, reaching $75.84. The stock had a trading volume of 3,333,289 shares, compared to its average volume of 2,970,474. Sysco Co. has a 1-year low of $62.24 and a 1-year high of $82.89. The company's fifty day simple moving average is $78.55 and its two-hundred day simple moving average is $75.38. The company has a market cap of $37.77 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 1.92 and a beta of 1.16. The company has a debt-to-equity ratio of 5.77, a current ratio of 1.34 and a quick ratio of 0.77.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.95 by $0.01. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The business had revenue of $19.38 billion for the quarter, compared to analyst estimates of $19.74 billion. During the same period last year, the business earned $0.90 EPS. The company's revenue was up 2.7% on a year-over-year basis. Equities research analysts expect that Sysco Co. will post 4.31 earnings per share for the current year.

Sysco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be issued a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.69%. This is a positive change from Sysco's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, July 5th. Sysco's dividend payout ratio (DPR) is presently 48.78%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. StockNews.com cut shares of Sysco from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 1st. Piper Sandler lowered their price objective on shares of Sysco from $83.00 to $79.00 and set a "neutral" rating for the company in a research report on Wednesday, May 1st. Barclays increased their price objective on shares of Sysco from $85.00 to $90.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 31st. Stephens increased their price objective on shares of Sysco from $80.00 to $90.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 31st. Finally, Truist Financial lowered their price objective on shares of Sysco from $91.00 to $87.00 and set a "buy" rating for the company in a research report on Thursday, May 2nd. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Sysco presently has an average rating of "Moderate Buy" and an average target price of $84.56.

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.