Sysco Co. (NYSE:SYY) Shares Sold by United Community Bank

United Community Bank lowered its holdings in Sysco Co. (NYSE:SYY) by 29.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 785 shares of the company’s stock after selling 325 shares during the period. United Community Bank’s holdings in Sysco were worth $64,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SYY. Capital World Investors acquired a new stake in Sysco in the 4th quarter valued at about $683,599,000. Norges Bank purchased a new position in Sysco in the fourth quarter worth approximately $450,794,000. Capital Research Global Investors purchased a new stake in shares of Sysco in the 4th quarter valued at approximately $227,241,000. The Manufacturers Life Insurance Company raised its holdings in shares of Sysco by 132.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,653,446 shares of the company’s stock valued at $267,177,000 after purchasing an additional 2,084,501 shares in the last quarter. Finally, Fiduciary Management Inc. WI lifted its position in shares of Sysco by 92.1% during the 4th quarter. Fiduciary Management Inc. WI now owns 2,619,940 shares of the company’s stock worth $191,596,000 after purchasing an additional 1,255,908 shares during the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Trading Down 0.0 %

Shares of Sysco stock traded down $0.03 during trading hours on Wednesday, reaching $69.13. The stock had a trading volume of 314,779 shares, compared to its average volume of 3,118,880. The company has a current ratio of 1.34, a quick ratio of 0.77 and a debt-to-equity ratio of 5.77. Sysco Co. has a 1 year low of $62.24 and a 1 year high of $82.89. The firm has a market capitalization of $34.43 billion, a price-to-earnings ratio of 16.87, a P/E/G ratio of 1.87 and a beta of 1.18. The firm has a 50 day simple moving average of $72.98 and a two-hundred day simple moving average of $76.23.

Sysco (NYSE:SYY) last announced its quarterly earnings results 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 firm had revenue of $19.38 billion for the quarter, compared to analysts’ expectations of $19.74 billion. During the same period in the previous year, the company posted $0.90 earnings per share. Sysco’s revenue was up 2.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Sysco Co. will post 4.3 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 paid a dividend of $0.51 per share. The ex-dividend date is Friday, July 5th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.95%. This is a positive change from Sysco’s previous quarterly dividend of $0.50. Sysco’s dividend payout ratio (DPR) is currently 49.76%.

Analyst Ratings Changes

Several research firms recently commented on SYY. UBS Group dropped their target price on Sysco from $92.00 to $87.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Piper Sandler decreased their target price on Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Truist Financial dropped their price target on shares of Sysco from $87.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, June 24th. Deutsche Bank Aktiengesellschaft reduced their price objective on Sysco from $90.00 to $86.00 and set a “buy” rating for the company in a report on Thursday, May 23rd. Finally, JPMorgan Chase & Co. cut their price objective on Sysco from $87.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, May 23rd. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Sysco currently has an average rating of “Moderate Buy” and an average target price of $84.90.

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.