Sysco Co. (NYSE:SYY) Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC decreased its holdings in shares of Sysco Co. (NYSE:SYY) by 4.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 161,840 shares of the company’s stock after selling 8,335 shares during the period. Manning & Napier Advisors LLC’s holdings in Sysco were worth $12,374,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Armstrong Advisory Group Inc. grew 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 worth $26,000 after acquiring an additional 310 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of Sysco during the 3rd quarter worth $26,000. Valley Wealth Managers Inc. acquired a new position in shares of Sysco during the 3rd quarter worth $31,000. Focused Wealth Management Inc purchased a new position in shares of Sysco in the 3rd quarter valued at about $37,000. Finally, Canoe Financial LP acquired a new stake in shares of Sysco in the third quarter valued at about $38,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Trading Down 0.4 %

Shares of Sysco stock opened at $71.96 on Thursday. Sysco Co. has a fifty-two week low of $69.03 and a fifty-two week high of $82.89. The business’s fifty day moving average is $76.43 and its two-hundred day moving average is $76.03. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. The firm has a market cap 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 released its earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. Sysco had a return on equity of 101.04% and a net margin of 2.44%. During the same quarter in the prior year, the firm earned $0.89 EPS. Analysts anticipate that Sysco Co. will post 4.57 earnings per share for the current year.

Sysco Dividend Announcement

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

Insiders Place Their Bets

In other news, EVP Greg D. Bertrand sold 48,027 shares of the firm’s stock in a transaction dated 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 directly owns 56,304 shares in the company, valued at $4,335,408. This trade represents a 46.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Eve M. Mcfadden sold 4,036 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the sale, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at approximately $3,638,670.10. This trade represents a 7.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 83,306 shares of company stock valued at $6,485,050 over the last quarter. Company insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SYY shares. Wells Fargo & Company dropped their target price on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Melius Research raised Sysco to a “hold” rating in a report on Wednesday, December 18th. StockNews.com lowered Sysco from a “strong-buy” rating to a “buy” rating in a report on Monday. Truist Financial dropped their price target on Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Morgan Stanley lowered their price objective on shares of Sysco from $79.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $85.21.

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.