Sysco Co. (NYSE:SYY) Holdings Lifted by ING Groep NV

ING Groep NV lifted its holdings in shares of Sysco Co. (NYSE:SYY - Free Report) by 204.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 275,027 shares of the company's stock after buying an additional 184,615 shares during the period. ING Groep NV owned approximately 0.05% of Sysco worth $20,113,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the business. Hunter Associates Investment Management LLC increased its position in shares of Sysco by 1.5% during the 4th quarter. Hunter Associates Investment Management LLC now owns 8,275 shares of the company's stock valued at $606,000 after purchasing an additional 125 shares during the period. Hazlett Burt & Watson Inc. lifted its holdings in Sysco by 6.4% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 2,246 shares of the company's stock valued at $165,000 after acquiring an additional 135 shares during the last quarter. Quent Capital LLC boosted its position in shares of Sysco by 5.0% during the 4th quarter. Quent Capital LLC now owns 2,948 shares of the company's stock valued at $216,000 after purchasing an additional 140 shares in the last quarter. JFS Wealth Advisors LLC grew its stake in shares of Sysco by 39.3% in the 4th quarter. JFS Wealth Advisors LLC now owns 500 shares of the company's stock worth $37,000 after purchasing an additional 141 shares during the last quarter. Finally, GHE LLC raised its holdings in shares of Sysco by 1.0% in the 4th quarter. GHE LLC now owns 14,718 shares of the company's stock worth $1,076,000 after purchasing an additional 146 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company's stock.

Insider Activity at Sysco

In other news, CAO Neil Russell sold 1,722 shares of the firm's stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total transaction of $137,760.00. Following the completion of the sale, the chief accounting officer now directly owns 24,082 shares of the company's stock, valued at approximately $1,926,560. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.58% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. StockNews.com cut shares of Sysco from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 1st. Truist Financial decreased their target price on Sysco from $91.00 to $87.00 and set a "buy" rating on the stock in a report on Thursday, May 2nd. UBS Group cut their target price on Sysco from $92.00 to $87.00 and set a "buy" rating on the stock in a research report on Wednesday, May 1st. Stephens increased their price target on Sysco from $80.00 to $90.00 and gave the company an "overweight" rating in a research report on Wednesday, January 31st. Finally, JPMorgan Chase & Co. boosted their price objective on Sysco from $84.00 to $87.00 and gave the stock an "overweight" rating in a report on Tuesday, March 19th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $84.56.

Sysco Stock Down 0.4 %

NYSE:SYY traded down $0.33 on Friday, hitting $75.91. 3,781,607 shares of the company's stock traded hands, compared to its average volume of 2,924,661. The firm has a 50-day moving average price of $77.75 and a 200-day moving average price of $75.95. The company has a current ratio of 1.34, a quick ratio of 0.77 and a debt-to-equity ratio of 5.77. The company has a market cap of $37.80 billion, a PE ratio of 18.51, a price-to-earnings-growth ratio of 2.06 and a beta of 1.16. Sysco Co. has a 1 year low of $62.24 and a 1 year high of $82.89.

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

Sysco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend 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 is Friday, July 5th. Sysco's dividend payout ratio (DPR) is currently 49.76%.

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.

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