Dana Investment Advisors Inc. Trims Stake in Sysco Co. (NYSE:SYY)

Dana Investment Advisors Inc. reduced its holdings in shares of Sysco Co. (NYSE:SYY) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 260,187 shares of the company’s stock after selling 769 shares during the period. Dana Investment Advisors Inc. owned about 0.05% of Sysco worth $19,894,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SYY. Farther Finance Advisors LLC increased its holdings in Sysco by 10.6% during the third quarter. Farther Finance Advisors LLC now owns 3,544 shares of the company’s stock valued at $277,000 after buying an additional 340 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in Sysco during the third quarter valued at approximately $62,000. Van ECK Associates Corp increased its holdings in Sysco by 2.7% during the third quarter. Van ECK Associates Corp now owns 155,272 shares of the company’s stock valued at $11,588,000 after buying an additional 4,088 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Sysco by 2.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 78,995 shares of the company’s stock valued at $6,166,000 after buying an additional 1,671 shares during the last quarter. Finally, National Pension Service increased its stake in shares of Sysco by 15.6% in the third quarter. National Pension Service now owns 1,237,017 shares of the company’s stock worth $96,562,000 after purchasing an additional 166,798 shares in the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Sysco

In other news, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total value of $3,698,079.00. Following the sale, the executive vice president now directly 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 at the SEC website. Insiders own 0.54% of the company’s stock.

Sysco Stock Performance

Sysco stock opened at $74.48 on Thursday. The company’s 50-day moving average price is $73.52 and its 200-day moving average price is $75.62. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.33. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The company has a market cap of $36.44 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 1.88 and a beta of 1.17.

Sysco (NYSE:SYY) last posted its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting 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 period in the prior year, the firm posted $0.89 EPS. On average, equities research analysts forecast that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 4th will be issued a $0.51 dividend. The ex-dividend date is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.74%. Sysco’s dividend payout ratio (DPR) is presently 52.44%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Truist Financial reduced their price objective on shares of Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Jefferies Financial Group increased their price objective on shares of Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. Melius Research raised shares of Sysco to a “hold” rating in a research note on Wednesday, December 18th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Sysco presently has a consensus rating of “Moderate Buy” and an average target price of $84.77.

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.