Machina Capital S.A.S. Cuts Stake in Sysco Co. (NYSE:SYY)

Machina Capital S.A.S. decreased its holdings in Sysco Co. (NYSE:SYY) by 24.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,685 shares of the company’s stock after selling 4,690 shares during the period. Machina Capital S.A.S.’s holdings in Sysco were worth $1,074,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Invesco Ltd. boosted its stake in shares of Sysco by 11.0% in the 3rd quarter. Invesco Ltd. now owns 10,859,690 shares of the company’s stock valued at $717,283,000 after purchasing an additional 1,076,287 shares in the last quarter. Northern Trust Corp boosted its position in Sysco by 3.0% during the 3rd 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. Charles Schwab Investment Management Inc. boosted its position in Sysco by 0.8% during 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 buying an additional 21,700 shares during the period. Clarkston Capital Partners LLC boosted its position in 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 buying an additional 9,385 shares during the period. Finally, Primecap Management Co. CA boosted its position in Sysco by 2.2% during the 3rd quarter. Primecap Management Co. CA now owns 2,158,250 shares of the company’s stock valued at $142,552,000 after buying an additional 45,505 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Stock Up 0.4 %

SYY stock traded up $0.33 during trading on Tuesday, hitting $75.81. 3,313,759 shares of the stock traded hands, compared to its average volume of 2,955,879. Sysco Co. has a 1 year low of $62.24 and a 1 year high of $82.89. The firm’s 50 day moving average is $78.55 and its two-hundred day moving average is $75.38. The stock has a market cap of $37.75 billion, a price-to-earnings ratio of 18.41, a price-to-earnings-growth ratio of 1.92 and a beta of 1.16. The company has a debt-to-equity ratio of 5.77, a current ratio of 1.34 and a quick ratio of 0.77.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. The firm had revenue of $19.38 billion for the quarter, compared to the consensus estimate of $19.74 billion. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.90 EPS. On average, sell-side analysts anticipate that Sysco Co. will post 4.31 EPS for the current year.

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend is Friday, July 5th. This is an increase from Sysco’s previous quarterly dividend of $0.50. Sysco’s dividend payout ratio (DPR) is presently 48.78%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SYY shares. JPMorgan Chase & Co. increased their price target on shares of Sysco from $84.00 to $87.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Truist Financial dropped their price target on shares of Sysco from $91.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Piper Sandler dropped their price target 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. UBS Group decreased their price objective on shares of Sysco from $92.00 to $87.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Finally, StockNews.com lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 1st. Two investment 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 has an average rating of “Moderate Buy” and a consensus target price of $84.56.

Insider Activity

In other news, CAO Neil Russell sold 1,722 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $80.00, for a total transaction of $137,760.00. Following the sale, the chief accounting officer now owns 24,082 shares of the company’s stock, valued at approximately $1,926,560. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.58% of the company’s stock.

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.