Sumitomo Mitsui Trust Holdings Inc. Sells 7,585 Shares of Sysco Co. (NYSE:SYY)

Posted by on Apr 13th, 2023

Sumitomo Mitsui Trust Holdings Inc. cut its holdings in Sysco Co. (NYSE:SYY – Get Rating) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,559,839 shares of the company’s stock after selling 7,585 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.31% of Sysco worth $119,250,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Standard Family Office LLC bought a new position in Sysco in the third quarter valued at approximately $25,000. Karp Capital Management Corp bought a new position in Sysco in the third quarter valued at approximately $27,000. American National Bank boosted its stake in Sysco by 397.6% in the third quarter. American National Bank now owns 408 shares of the company’s stock valued at $29,000 after acquiring an additional 326 shares during the last quarter. General Partner Inc. bought a new position in Sysco in the fourth quarter valued at approximately $31,000. Finally, MinichMacGregor Wealth Management LLC bought a new position in Sysco in the fourth quarter valued at approximately $31,000. 81.18% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a report on Friday, March 10th. Bank of America assumed coverage on shares of Sysco in a report on Thursday, March 9th. They issued a “buy” rating and a $90.00 target price on the stock. Argus lowered shares of Sysco from a “buy” rating to a “hold” rating in a report on Thursday, February 2nd. TheStreet lowered shares of Sysco from a “b” rating to a “c+” rating in a report on Tuesday, January 31st. Finally, Truist Financial cut their target price on shares of Sysco from $92.00 to $88.00 and set a “buy” rating on the stock in a report on Wednesday, February 1st. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $88.27.

Sysco Stock Down 4.5 %

Sysco stock opened at $74.83 on Thursday. The company has a market cap of $37.98 billion, a P/E ratio of 27.01, a price-to-earnings-growth ratio of 1.50 and a beta of 1.10. Sysco Co. has a 1-year low of $70.61 and a 1-year high of $91.53. The company has a fifty day simple moving average of $76.19 and a 200 day simple moving average of $78.52. The company has a current ratio of 1.24, a quick ratio of 0.68 and a debt-to-equity ratio of 7.20.

Sysco (NYSE:SYY – Get Rating) last released its earnings results on Tuesday, January 31st. The company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.04). The business had revenue of $18.59 billion during the quarter, compared to the consensus estimate of $18.59 billion. Sysco had a net margin of 1.93% and a return on equity of 140.94%. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period last year, the business posted $0.57 EPS. Research analysts anticipate that Sysco Co. will post 4.04 earnings per share for the current fiscal year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Thursday, April 6th will be given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date is Wednesday, April 5th. Sysco’s dividend payout ratio (DPR) is currently 70.76%.

Sysco Company Profile

(Get Rating)

Sysco Corp. engages in selling, marketing, and distribution of food products to restaurants, healthcare and educational facilities, and lodging establishments. It operates through the following segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other. The U.S. Foodservice Operations consists of U.S.

Further Reading

Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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