Amalgamated Bank Has $9.33 Million Holdings in Sysco Co. (NYSE:SYY)

Amalgamated Bank lowered its position in shares of Sysco Co. (NYSE:SYY) by 4.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 127,621 shares of the company’s stock after selling 6,246 shares during the period. Amalgamated Bank’s holdings in Sysco were worth $9,333,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in SYY. Trian Fund Management L.P. acquired a new stake in shares of Sysco during the third quarter worth $80,812,000. Invesco Ltd. increased its holdings in shares of Sysco by 11.0% during the third quarter. Invesco Ltd. now owns 10,859,690 shares of the company’s stock worth $717,283,000 after purchasing an additional 1,076,287 shares during the period. Acadian Asset Management LLC raised its position in shares of Sysco by 1,591.5% in the third quarter. Acadian Asset Management LLC now owns 764,235 shares of the company’s stock valued at $50,462,000 after buying an additional 719,054 shares in the last quarter. Becker Capital Management Inc. boosted its stake in shares of Sysco by 3,671.0% in the third quarter. Becker Capital Management Inc. now owns 470,888 shares of the company’s stock valued at $31,102,000 after buying an additional 458,401 shares during the period. Finally, Vaughan David Investments LLC IL acquired a new stake in Sysco during the fourth quarter worth approximately $32,976,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Sysco

In related news, CAO Neil Russell sold 1,722 shares of Sysco stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $80.00, for a total value of $137,760.00. Following the transaction, the chief accounting officer now directly owns 24,082 shares of the company’s stock, valued at $1,926,560. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.58% of the company’s stock.

Sysco Trading Up 1.5 %

Shares of Sysco stock traded up $1.11 on Friday, hitting $75.36. The stock had a trading volume of 2,709,679 shares, compared to its average volume of 2,778,819. The stock has a 50 day moving average of $78.76 and a 200 day moving average of $75.09. The firm has a market capitalization of $37.53 billion, a P/E ratio of 18.38, a PEG ratio of 1.89 and a beta of 1.16. Sysco Co. has a twelve month low of $62.24 and a twelve month high of $82.89. The company has a debt-to-equity ratio of 5.77, a quick ratio of 0.80 and a current ratio of 1.34.

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 the consensus estimate of $0.95 by $0.01. The firm had revenue of $19.38 billion during the quarter, compared to analysts’ expectations of $19.74 billion. Sysco had a net margin of 2.66% and a return on equity of 99.88%. The company’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 EPS. Sell-side analysts expect that Sysco Co. will post 4.31 earnings per share for the current fiscal year.

Sysco Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SYY. JPMorgan Chase & Co. raised their price target on Sysco from $84.00 to $87.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Stephens upped their price target on shares of Sysco from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. Piper Sandler decreased their price objective on shares of Sysco from $83.00 to $79.00 and set a “neutral” rating on the stock in a research note on Wednesday. Truist Financial reduced their target price on Sysco from $91.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday. Finally, BMO Capital Markets boosted their price target on Sysco from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Sysco presently has an average rating of “Moderate Buy” and an average target price of $84.56.

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.