Skandinaviska Enskilda Banken AB publ Trims Stock Position in Sysco Co. (NYSE:SYY)

Skandinaviska Enskilda Banken AB publ decreased its holdings in Sysco Co. (NYSE:SYY) by 2.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 98,425 shares of the company’s stock after selling 2,100 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Sysco were worth $7,516,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. purchased a new position in shares of Sysco during the 3rd quarter worth $31,000. Stonebridge Financial Group LLC bought a new position in Sysco in the 4th quarter worth $31,000. Sherman Asset Management Inc. purchased a new position in Sysco during the fourth quarter valued at $31,000. SRS Capital Advisors Inc. increased its position in Sysco by 53.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after buying an additional 149 shares in the last quarter. Finally, HHM Wealth Advisors LLC raised its stake in shares of Sysco by 107.4% in the fourth quarter. HHM Wealth Advisors LLC now owns 620 shares of the company’s stock worth $47,000 after buying an additional 321 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Sysco Stock Up 1.0 %

Shares of SYY opened at $73.35 on Friday. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The stock has a market capitalization of $35.89 billion, a price-to-earnings ratio of 18.86, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. Sysco Co. has a 1 year low of $69.03 and a 1 year high of $82.33. The business’s 50 day simple moving average is $73.28 and its 200-day simple moving average is $75.51.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same quarter in the prior year, the business earned $0.89 EPS. As a group, equities analysts expect that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be given a dividend of $0.51 per share. 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 2.78%. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Barclays cut their price objective on Sysco from $93.00 to $85.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Guggenheim reissued a “buy” rating and issued a $85.00 price objective on shares of Sysco in a research note on Wednesday, January 29th. Melius began coverage on shares of Sysco in a research note on Wednesday, December 18th. They set a “hold” rating and a $85.00 target price on the stock. 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. Finally, UBS Group dropped their price objective on Sysco from $87.00 to $86.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $84.77.

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.