Sysco Co. (NYSE:SYY) Shares Sold by American International Group Inc.

American International Group Inc. cut its position in shares of Sysco Co. (NYSE:SYY) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 128,068 shares of the company’s stock after selling 1,327 shares during the period. American International Group Inc.’s holdings in Sysco were worth $9,366,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. First United Bank & Trust purchased a new position in Sysco during the fourth quarter valued at $26,000. AdvisorNet Financial Inc lifted its holdings in Sysco by 74.0% during the fourth quarter. AdvisorNet Financial Inc now owns 374 shares of the company’s stock valued at $27,000 after purchasing an additional 159 shares in the last quarter. Burkett Financial Services LLC purchased a new position in Sysco during the fourth quarter valued at $30,000. Headlands Technologies LLC purchased a new position in Sysco during the fourth quarter valued at $34,000. Finally, JFS Wealth Advisors LLC raised its position in shares of Sysco by 39.3% in the fourth quarter. JFS Wealth Advisors LLC now owns 500 shares of the company’s stock valued at $37,000 after buying an additional 141 shares during the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Price Performance

Shares of NYSE SYY opened at $72.68 on Wednesday. The firm has a market capitalization of $36.19 billion, a P/E ratio of 17.73, a PEG ratio of 2.03 and a beta of 1.17. Sysco Co. has a one year low of $62.24 and a one year high of $82.89. The company’s fifty day moving average is $74.42 and its two-hundred day moving average is $76.45. The company has a debt-to-equity ratio of 5.77, a quick ratio of 0.77 and a current ratio of 1.34.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.95 by $0.01. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The business had revenue of $19.38 billion for the quarter, compared to analyst estimates of $19.74 billion. During the same period in the previous year, the firm earned $0.90 EPS. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. Analysts forecast that Sysco Co. will post 4.3 EPS for the current fiscal year.

Sysco Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, July 5th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.81%. This is an increase from Sysco’s previous quarterly dividend of $0.50. Sysco’s dividend payout ratio is currently 48.78%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, May 23rd. Piper Sandler cut their price objective on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Guggenheim upgraded shares of Sysco from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research report on Tuesday, May 28th. BMO Capital Markets cut their price objective on shares of Sysco from $90.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. Finally, Barclays cut their price objective on shares of Sysco from $88.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, May 23rd. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $85.10.

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.