Sysco Co. (NYSE:SYY) Shares Sold by AXS Investments LLC

AXS Investments LLC reduced its position in shares of Sysco Co. (NYSE:SYY) by 3.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,310 shares of the company’s stock after selling 578 shares during the period. AXS Investments LLC’s holdings in Sysco were worth $1,266,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First United Bank & Trust acquired a new stake in shares of Sysco during the fourth quarter valued at about $26,000. AdvisorNet Financial Inc increased its position in shares of Sysco by 74.0% during the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock valued at $27,000 after acquiring an additional 159 shares during the last quarter. Headlands Technologies LLC acquired a new stake in shares of Sysco during the fourth quarter valued at about $34,000. JFS Wealth Advisors LLC grew its holdings in shares of Sysco by 39.3% in the fourth quarter. JFS Wealth Advisors LLC now owns 500 shares of the company’s stock valued at $37,000 after purchasing an additional 141 shares in the last quarter. Finally, BKM Wealth Management LLC acquired a new position in shares of Sysco in the fourth quarter valued at approximately $42,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Price Performance

Shares of NYSE:SYY remained flat at $72.87 during trading on Friday. 1,111,955 shares of the stock traded hands, compared to its average volume of 2,948,230. The stock has a market capitalization of $36.29 billion, a PE ratio of 17.77, a P/E/G ratio of 1.93 and a beta of 1.16. The company has a quick ratio of 0.77, a current ratio of 1.34 and a debt-to-equity ratio of 5.77. Sysco Co. has a twelve month low of $62.24 and a twelve month high of $82.89. The company has a 50-day moving average of $77.25 and a 200 day moving average of $76.10.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, April 30th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. The business had revenue of $19.38 billion for the quarter, compared to analysts’ expectations of $19.74 billion. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 EPS. As a group, equities research analysts anticipate that Sysco Co. will post 4.31 EPS for the current year.

Sysco Increases Dividend

The firm also recently announced 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 2.80%. This is a boost from Sysco’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Friday, July 5th. Sysco’s payout ratio is presently 48.78%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SYY. Stephens lifted their price objective on shares of Sysco from $80.00 to $90.00 and gave the company 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 research note on Thursday, February 1st. UBS Group decreased their price target on shares of Sysco from $92.00 to $87.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Truist Financial decreased their price target on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Finally, Barclays decreased their price target on shares of Sysco from $88.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday. Two research 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 an average rating of “Moderate Buy” and a consensus target price of $85.11.

Insider Activity

In other 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 value of $137,760.00. Following the transaction, the chief accounting officer now directly owns 24,082 shares of the company’s stock, valued at approximately $1,926,560. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.58% of the company’s stock.

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.