Kiltearn Partners LLP Sells 19,600 Shares of Sysco Co. (NYSE:SYY)

Kiltearn Partners LLP trimmed its holdings in Sysco Co. (NYSE:SYY) by 9.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 183,900 shares of the company’s stock after selling 19,600 shares during the quarter. Sysco accounts for 2.3% of Kiltearn Partners LLP’s portfolio, making the stock its 19th largest holding. Kiltearn Partners LLP’s holdings in Sysco were worth $14,061,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Boston Partners increased its position in Sysco by 143.7% in the fourth quarter. Boston Partners now owns 12,184,114 shares of the company’s stock worth $930,296,000 after purchasing an additional 7,184,754 shares during the period. Norges Bank bought a new position in shares of Sysco during the fourth quarter worth about $450,441,000. State Street Corp raised its holdings in shares of Sysco by 11.1% in the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after purchasing an additional 2,721,449 shares during the last quarter. Mondrian Investment Partners LTD bought a new stake in Sysco during the 4th quarter worth about $123,928,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Sysco during the 4th quarter worth approximately $97,078,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Sysco

In related news, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total value of $3,698,079.00. Following the completion of the sale, the executive vice president now owns 56,304 shares in the company, valued at $4,335,408. The trade was a 46.03 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.54% of the company’s stock.

Analysts Set New Price Targets

SYY has been the topic of a number of research analyst reports. Melius assumed coverage on Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 price target on the stock. UBS Group lowered their target price on Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Morgan Stanley lowered their target price on shares of Sysco from $79.00 to $77.00 and set an “equal weight” 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. Finally, Truist Financial dropped their price objective on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $84.77.

Sysco Price Performance

NYSE:SYY opened at $73.99 on Friday. The firm has a market capitalization of $36.20 billion, a price-to-earnings ratio of 19.02, a P/E/G ratio of 1.88 and a beta of 1.11. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. The stock has a fifty day moving average of $72.97 and a 200 day moving average of $75.18. Sysco Co. has a 52-week low of $69.03 and a 52-week high of $82.23.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period in the previous year, the business earned $0.89 EPS. On average, research analysts expect that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 4th will be paid a $0.51 dividend. The ex-dividend date of this dividend is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.76%. Sysco’s dividend payout ratio is presently 52.44%.

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.