Sysco Co. (NYSE:SYY) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its stake in Sysco Co. (NYSE:SYY - Free Report) by 11.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,463,276 shares of the company's stock after buying an additional 344,325 shares during the period. The Manufacturers Life Insurance Company owned 0.71% of Sysco worth $264,802,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Stonebridge Financial Group LLC purchased a new stake in Sysco in the fourth quarter worth $31,000. Flagship Wealth Advisors LLC purchased a new position in shares of Sysco in the 4th quarter worth about $31,000. Sherman Asset Management Inc. purchased a new position in Sysco in the 4th quarter worth approximately $31,000. SRS Capital Advisors Inc. lifted its position in Sysco by 53.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock valued at $33,000 after acquiring an additional 149 shares in the last quarter. Finally, HHM Wealth Advisors LLC boosted its stake in Sysco by 107.4% during the 4th quarter. HHM Wealth Advisors LLC now owns 620 shares of the company's stock valued at $47,000 after purchasing an additional 321 shares during the last quarter. 83.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SYY has been the topic of a number of research analyst reports. Guggenheim reaffirmed a "buy" rating and set a $85.00 price target on shares of Sysco in a report on Wednesday, January 29th. Truist Financial cut 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. StockNews.com lowered Sysco from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 20th. Morgan Stanley decreased their price objective on shares of Sysco from $79.00 to $77.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 29th. Finally, UBS Group dropped their price target on Sysco from $86.00 to $83.00 and set a "buy" rating for the company in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $83.07.

Sysco Stock Down 1.8 %

Shares of NYSE SYY traded down $1.26 during midday trading on Thursday, reaching $70.14. 2,919,899 shares of the company's stock traded hands, compared to its average volume of 3,359,062. The company has a market cap of $34.31 billion, a price-to-earnings ratio of 18.03, a P/E/G ratio of 1.88 and a beta of 0.91. The stock's 50 day simple moving average is $72.73 and its 200-day simple moving average is $74.36. Sysco Co. has a one year low of $67.12 and a one year high of $82.23. 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 (NYSE:SYY - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share for the quarter, missing analysts' consensus estimates of $1.02 by ($0.06). The business had revenue of $19.60 billion during the quarter, compared to analyst estimates of $20.11 billion. Sysco had a return on equity of 106.30% and a net margin of 2.40%. The business's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.96 EPS. On average, analysts predict that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be issued a $0.54 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.08%. This is a boost from Sysco's previous quarterly dividend of $0.51. Sysco's payout ratio is 55.96%.

Sysco 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.