Sysco Co. (NYSE:SYY) Secures $21.23 Million Stock Holdings from M&T Bank Corp
Sysco Co. (NYSE:SYY) has recently made headlines as M&T Bank Corp reduced its holdings in the company by 6.7% during the third quarter, according to the latest filing with the Securities and Exchange Commission. M&T Bank Corp now owns 271,983 shares of Sysco’s stock, worth $21,231,000, after selling 19,648 shares during the period. This move has garnered attention from investors and analysts alike, shedding light on the shifting landscape of stock ownership in the market.
Hedge Funds Make Moves in Sysco
In addition to M&T Bank Corp’s actions, several other hedge funds have been active in adjusting their stakes in Sysco. State Street Corp increased its stake in Sysco by 11.1% in the 3rd quarter, now owning 27,294,612 shares worth $2,130,617,000. ProShare Advisors LLC and Diamond Hill Capital Management Inc. also boosted their stakes significantly in the 2nd quarter. Ameriprise Financial Inc. raised its holdings by 26.1%, and Massachusetts Financial Services Co. MA acquired a new position in the 3rd quarter. With 83.41% of the stock owned by institutional investors and hedge funds, Sysco’s stock movements are under close scrutiny.
Sysco Stock Performance and Financial Snapshot
Sysco’s stock (NYSE:SYY) experienced a 0.6% decrease, trading down to $80.35 during mid-day trading on Wednesday. The company’s stock has a 52-week low of $69.03 and a high of $82.89, with a market cap of $39.47 billion. Analysts expect Sysco to post 4.57 EPS for the current year, reflecting the company’s financial outlook amid these ownership changes.
Dividend Announcement and Analyst Recommendations
Sysco recently announced a quarterly dividend, to be paid on Friday, January 24th, offering stockholders a $0.51 dividend. Analysts have been actively setting new price targets for Sysco, with varying perspectives on the company’s future performance. Insights from research firms like StockNews.com and Jefferies Financial Group provide a nuanced view of Sysco’s trajectory in the market, shaping investor sentiment and decision-making.
Sysco’s recent transactions by insiders like SVP Eve M. Mcfadden and Director Sheila Talton further add layers to the ongoing narrative of the company’s stock dynamics. These insider moves, alongside the broader market trends, contribute to the evolving landscape of Sysco’s position in the market.
As investors navigate the complexities of stock ownership and financial markets, Sysco’s story unfolds with each transaction, dividend announcement, and analyst recommendation. Stay tuned for more updates on Sysco’s journey in the stock market.
