UniSuper Management Pty Ltd Acquires 8,076 Shares of Sysco Co. (NYSE:SYY)

UniSuper Management Pty Ltd boosted its holdings in shares of Sysco Co. (NYSE:SYY) by 23.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,904 shares of the company’s stock after purchasing an additional 8,076 shares during the period. UniSuper Management Pty Ltd’s holdings in Sysco were worth $3,280,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Boston Partners boosted its stake in Sysco by 143.7% in the 4th quarter. Boston Partners now owns 12,184,114 shares of the company’s stock valued at $930,296,000 after buying an additional 7,184,754 shares in the last quarter. State Street Corp lifted its holdings in shares of Sysco by 11.1% during the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock valued at $2,130,617,000 after acquiring an additional 2,721,449 shares during the period. Mondrian Investment Partners LTD acquired a new stake in shares of Sysco in the 4th quarter valued at $123,928,000. Raymond James Financial Inc. bought a new stake in shares of Sysco in the 4th quarter worth about $97,078,000. Finally, Nordea Investment Management AB increased its position in shares of Sysco by 52.3% during the 4th quarter. Nordea Investment Management AB now owns 2,719,478 shares of the company’s stock worth $208,666,000 after purchasing an additional 933,327 shares in the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Greg D. Bertrand sold 48,027 shares of Sysco stock in a transaction 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 transaction, the executive vice president now owns 56,304 shares in the company, valued at approximately $4,335,408. This trade represents a 46.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.54% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Morgan Stanley dropped their price target on Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a report on Wednesday, January 29th. Jefferies Financial Group boosted their price objective on Sysco from $91.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Truist Financial lowered their target price 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, Barclays reduced their price target on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $84.77.

Sysco Stock Performance

Shares of SYY stock opened at $74.10 on Friday. The stock has a market cap of $36.25 billion, a P/E ratio of 19.05, a P/E/G ratio of 1.88 and a beta of 1.11. The company has a fifty day moving average price of $72.99 and a two-hundred day moving average price of $75.13. Sysco Co. has a one year low of $69.03 and a one year high of $82.23. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting 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 company posted $0.89 EPS. As a group, equities analysts predict that Sysco Co. will post 4.58 EPS for the current year.

Sysco Announces Dividend

The business 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 dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend is Friday, April 4th. Sysco’s dividend payout ratio (DPR) is currently 52.44%.

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.