Natixis Advisors L.P. Acquires 204,362 Shares of Sysco Co. (NYSE:SYY)

Natixis Advisors L.P. lifted its stake in shares of Sysco Co. (NYSE:SYY) by 55.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 575,809 shares of the company’s stock after buying an additional 204,362 shares during the period. Natixis Advisors L.P. owned about 0.11% of Sysco worth $42,108,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in SYY. Invesco Ltd. raised its position in shares of Sysco by 11.0% in the 3rd quarter. Invesco Ltd. now owns 10,859,690 shares of the company’s stock worth $717,283,000 after acquiring an additional 1,076,287 shares in the last quarter. Northern Trust Corp lifted its stake in Sysco by 3.0% in the third quarter. Northern Trust Corp now owns 6,138,310 shares of the company’s stock valued at $405,435,000 after buying an additional 178,464 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Sysco by 4.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 5,651,746 shares of the company’s stock worth $373,298,000 after buying an additional 265,621 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Sysco by 0.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,738,940 shares of the company’s stock valued at $180,907,000 after acquiring an additional 21,700 shares in the last quarter. Finally, Clarkston Capital Partners LLC lifted its position in shares of Sysco by 0.4% during the 3rd quarter. Clarkston Capital Partners LLC now owns 2,320,060 shares of the company’s stock valued at $153,240,000 after acquiring an additional 9,385 shares during the period. 83.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Neil Russell sold 1,722 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total transaction of $137,760.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,082 shares of the company’s stock, valued at approximately $1,926,560. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on SYY shares. BMO Capital Markets lifted their price target on shares of Sysco from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 1st. Truist Financial dropped their price objective on shares of Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday. JPMorgan Chase & Co. upped their price objective on shares of Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Finally, Stephens upped their price objective on shares of Sysco from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Sysco currently has an average rating of “Moderate Buy” and an average target price of $84.56.

Sysco Stock Up 1.5 %

SYY stock traded up $1.11 during trading on Friday, reaching $75.36. The stock had a trading volume of 2,709,679 shares, compared to its average volume of 2,778,819. Sysco Co. has a one year low of $62.24 and a one year high of $82.89. The company has a quick ratio of 0.80, a current ratio of 1.34 and a debt-to-equity ratio of 5.77. The company’s 50 day moving average is $78.76 and its two-hundred day moving average is $75.09. The company has a market capitalization of $37.53 billion, a price-to-earnings ratio of 18.38, a P/E/G ratio of 1.89 and a beta of 1.16.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $19.74 billion. During the same period in the prior year, the firm posted $0.90 EPS. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities research analysts forecast that Sysco Co. will post 4.31 EPS for the current year.

Sysco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be given a dividend of $0.51 per share. This is an increase from Sysco’s previous quarterly dividend of $0.50. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Friday, July 5th. Sysco’s dividend payout ratio is currently 48.78%.

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.