New England Research & Management Inc. Sells 1,060 Shares of Sysco Co. (NYSE:SYY)

New England Research & Management Inc. cut its holdings in shares of Sysco Co. (NYSE:SYY) by 3.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 33,334 shares of the company’s stock after selling 1,060 shares during the period. Sysco accounts for approximately 1.3% of New England Research & Management Inc.’s portfolio, making the stock its 19th largest position. New England Research & Management Inc.’s holdings in Sysco were worth $2,549,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of SYY. Armstrong Advisory Group Inc. raised its holdings in Sysco by 1,240.0% during the third quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after acquiring an additional 310 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of Sysco during the third quarter valued at about $26,000. Valley Wealth Managers Inc. purchased a new position in shares of Sysco during the third quarter valued at about $31,000. Focused Wealth Management Inc purchased a new position in shares of Sysco during the third quarter valued at about $37,000. Finally, Canoe Financial LP purchased a new position in shares of Sysco during the third quarter valued at about $38,000. 83.41% of the stock is owned by institutional investors.

Sysco Stock Performance

Sysco stock opened at $71.96 on Thursday. The company has a 50 day moving average price of $76.43 and a 200-day moving average price of $76.03. The company has a debt-to-equity ratio of 5.38, a quick ratio of 0.73 and a current ratio of 1.26. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.89. The company has a market capitalization of $35.35 billion, a PE ratio of 18.50, a P/E/G ratio of 2.04 and a beta of 1.18.

Sysco (NYSE:SYY) last posted 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 2.44% and a return on equity of 101.04%. During the same quarter in the prior year, the firm earned $0.89 earnings per share. As a group, equities analysts forecast that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 24th. Investors of record on Friday, January 3rd were paid a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend was Friday, January 3rd. Sysco’s dividend payout ratio (DPR) is 52.44%.

Insider Buying and Selling

In other Sysco news, SVP Eve M. Mcfadden sold 6,499 shares of Sysco stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total value of $519,920.00. Following the transaction, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at approximately $3,876,080. The trade was a 11.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sheila Talton sold 2,900 shares of Sysco stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total transaction of $216,427.00. Following the completion of the transaction, the director now directly owns 12,955 shares in the company, valued at $966,831.65. This represents a 18.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 83,306 shares of company stock valued at $6,485,050 over the last 90 days. Corporate insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SYY. Truist Financial cut their price objective on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday. Jefferies Financial Group raised their price objective on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Wells Fargo & Company dropped their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Guggenheim reiterated a “buy” rating and issued a $85.00 price target on shares of Sysco in a research report on Wednesday. Finally, StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $85.21.

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.