Citizens Financial Group Inc. RI Reduces Holdings in Sysco Co. (NYSE:SYY)

Citizens Financial Group Inc. RI lowered its stake in shares of Sysco Co. (NYSE:SYY) by 13.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 69,285 shares of the company’s stock after selling 10,416 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Sysco were worth $5,298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in shares of Sysco during the 3rd quarter worth approximately $26,000. Valley Wealth Managers Inc. bought a new stake in shares of Sysco during the third quarter valued at approximately $31,000. Stonebridge Financial Group LLC purchased a new stake in Sysco in the fourth quarter worth $31,000. Sherman Asset Management Inc. bought a new position in Sysco in the fourth quarter worth $31,000. Finally, SRS Capital Advisors Inc. lifted its position in Sysco by 53.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after buying an additional 149 shares during the period. 83.41% of the stock is owned by institutional investors.

Insider Activity

In other Sysco news, EVP Greg D. Bertrand sold 48,027 shares of the 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 owns 56,304 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Guggenheim reaffirmed a “buy” rating and issued a $85.00 target price on shares of Sysco in a research report on Wednesday, January 29th. Barclays cut their price objective on shares of Sysco from $93.00 to $85.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Melius Research upgraded shares of Sysco to a “hold” rating in a report on Wednesday, December 18th. Truist Financial cut their price target on Sysco from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, Jefferies Financial Group lifted their price objective on Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Four analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $84.77.

Sysco Trading Down 3.4 %

Sysco stock opened at $74.52 on Wednesday. Sysco Co. has a one year low of $69.03 and a one year high of $82.33. The business’s fifty day moving average is $73.44 and its 200 day moving average is $75.58. The stock has a market capitalization of $36.46 billion, a PE ratio of 19.16, a price-to-earnings-growth ratio of 1.88 and a beta of 1.11. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $0.93 earnings per share (EPS) 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 quarter in the prior year, the firm posted $0.89 EPS. On average, sell-side analysts predict that Sysco Co. will post 4.58 EPS for the current year.

Sysco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 25th. Shareholders of record on Friday, April 4th will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, April 4th. This represents a $2.04 dividend on an annualized basis and a yield of 2.74%. Sysco’s dividend payout ratio is presently 52.44%.

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.