Sysco Co. (NYSE:SYY) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. lowered its stake in shares of Sysco Co. (NYSE:SYY) by 4.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,839 shares of the company’s stock after selling 399 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Sysco were worth $676,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Buckley Wealth Management LLC raised its holdings in Sysco by 0.8% in the 4th quarter. Buckley Wealth Management LLC now owns 18,188 shares of the company’s stock valued at $1,391,000 after acquiring an additional 150 shares during the last quarter. WR Wealth Planners LLC increased its stake in Sysco by 9.9% in the fourth quarter. WR Wealth Planners LLC now owns 4,270 shares of the company’s stock valued at $326,000 after purchasing an additional 386 shares during the last quarter. Captrust Financial Advisors lifted its position in Sysco by 7.7% during the third quarter. Captrust Financial Advisors now owns 124,341 shares of the company’s stock worth $9,706,000 after buying an additional 8,891 shares during the period. Clark & Stuart Inc acquired a new stake in Sysco in the 4th quarter worth about $7,613,000. Finally, Kovitz Investment Group Partners LLC grew its holdings in Sysco by 76.0% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 135,362 shares of the company’s stock valued at $10,256,000 after buying an additional 58,430 shares during the period. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

SYY has been the topic of several research analyst reports. Melius initiated coverage on shares of Sysco in a research report on Wednesday, December 18th. They issued a “hold” rating and a $85.00 target price on the stock. Truist Financial lowered their price objective on shares of Sysco from $85.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. JPMorgan Chase & Co. cut their target price on Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. Wells Fargo & Company boosted their price target on Sysco from $82.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Finally, Guggenheim restated a “buy” rating and issued a $85.00 price objective on shares of Sysco in a report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Sysco has an average rating of “Moderate Buy” and a consensus target price of $84.77.

Insider Activity

In related news, EVP Greg D. Bertrand sold 48,027 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $77.00, for a total value of $3,698,079.00. Following the sale, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at $4,335,408. This represents a 46.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.54% of the company’s stock.

Sysco Trading Up 0.1 %

NYSE SYY opened at $74.10 on Friday. The stock has a market cap of $36.25 billion, a P/E ratio of 19.05, a PEG ratio of 1.88 and a beta of 1.11. The company’s fifty day simple moving average is $72.99 and its 200-day simple moving average is $75.13. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. Sysco Co. has a 52 week low of $69.03 and a 52 week high of $82.23.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. Sysco had a net margin of 2.40% and a return on equity of 106.30%. During the same period in the previous year, the company posted $0.89 earnings per share. Equities research analysts predict that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be issued a dividend of $0.51 per share. The ex-dividend date is Friday, April 4th. This represents a $2.04 annualized dividend and a yield of 2.75%. Sysco’s dividend payout ratio is presently 52.44%.

About Sysco

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.