Axa S.A. Trims Holdings in Sysco Co. (NYSE:SYY)

Axa S.A. reduced its holdings in shares of Sysco Co. (NYSE:SYY) by 32.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,323 shares of the company’s stock after selling 24,529 shares during the period. Axa S.A.’s holdings in Sysco were worth $3,848,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of SYY. Parvin Asset Management LLC purchased a new position in shares of Sysco during the fourth quarter valued at approximately $29,000. Stonebridge Financial Group LLC purchased a new position in Sysco during the fourth quarter valued at $31,000. Sherman Asset Management Inc. bought a new stake in Sysco in the fourth quarter worth $31,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Sysco in the fourth quarter worth $31,000. Finally, SRS Capital Advisors Inc. increased its holdings in shares of Sysco by 53.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after acquiring an additional 149 shares in the last quarter. Institutional investors own 83.41% of the company’s stock.

Insider Activity at Sysco

In other news, Director Sheila Talton sold 356 shares of the firm’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $70.84, for a total transaction of $25,219.04. Following the sale, the director now directly owns 12,738 shares in the company, valued at $902,359.92. This trade represents a 2.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.54% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on SYY shares. Guggenheim reissued a “buy” rating and set a $85.00 price objective on shares of Sysco in a research report on Wednesday, January 29th. Truist Financial cut their price target on shares of Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. UBS Group lowered their price objective on Sysco from $86.00 to $83.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. JPMorgan Chase & Co. reduced their target price on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Finally, BMO Capital Markets lowered their price target on Sysco from $82.00 to $77.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $83.38.

Sysco Trading Up 0.8 %

Shares of NYSE:SYY opened at $70.55 on Thursday. Sysco Co. has a 52-week low of $67.12 and a 52-week high of $82.23. The stock has a market capitalization of $34.20 billion, a price-to-earnings ratio of 18.14, a PEG ratio of 1.88 and a beta of 0.80. 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’s 50-day simple moving average is $72.32 and its two-hundred day simple moving average is $74.18.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.06). Sysco had a net margin of 2.40% and a return on equity of 106.30%. The business had revenue of $19.60 billion for the quarter, compared to the consensus estimate of $20.11 billion. During the same quarter last year, the firm posted $0.96 earnings per share. The business’s quarterly revenue was up 1.1% compared to the same quarter last year. Analysts expect that Sysco Co. will post 4.58 EPS for the current year.

Sysco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be issued a $0.54 dividend. This is a boost from Sysco’s previous quarterly dividend of $0.51. This represents a $2.16 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend is Thursday, July 3rd. Sysco’s dividend payout ratio (DPR) is currently 55.96%.

About Sysco

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.