Jones Financial Companies Lllp purchased a new position in SYSCO Co. (NYSE:SYY) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 4,570 shares of the company’s stock, valued at approximately $278,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Miller Howard Investments Inc. NY purchased a new position in SYSCO during the 4th quarter worth $60,798,000. Amundi Pioneer Asset Management Inc. purchased a new position in SYSCO during the 4th quarter worth $31,092,000. American Century Companies Inc. grew its stake in SYSCO by 7.5% during the 4th quarter. American Century Companies Inc. now owns 6,578,176 shares of the company’s stock worth $399,493,000 after buying an additional 457,259 shares during the last quarter. Quantitative Investment Management LLC purchased a new position in SYSCO during the 4th quarter worth $22,864,000. Finally, Retirement Systems of Alabama grew its stake in SYSCO by 126.1% during the 4th quarter. Retirement Systems of Alabama now owns 532,810 shares of the company’s stock worth $32,358,000 after buying an additional 297,195 shares during the last quarter. 79.05% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently weighed in on SYY shares. BMO Capital Markets set a $66.00 target price on SYSCO and gave the stock a “buy” rating in a research note on Friday, December 8th. Loop Capital boosted their target price on SYSCO to $68.00 and gave the stock a “buy” rating in a research note on Monday, December 11th. Pivotal Research boosted their target price on SYSCO from $53.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Zacks Investment Research upgraded SYSCO from a “hold” rating to a “strong-buy” rating and set a $71.00 price target on the stock in a research note on Wednesday, January 10th. Finally, Morgan Stanley upgraded SYSCO from an “underweight” rating to an “equal weight” rating and set a $64.00 price target on the stock in a research note on Tuesday, January 16th. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $65.20.
In other news, EVP Wayne Shurts sold 7,800 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $58.98, for a total value of $460,044.00. Following the completion of the transaction, the executive vice president now owns 55,235 shares of the company’s stock, valued at approximately $3,257,760.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Greg D. Bertrand sold 81,038 shares of the business’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $60.76, for a total value of $4,923,868.88. Following the completion of the transaction, the senior vice president now directly owns 69,721 shares of the company’s stock, valued at approximately $4,236,247.96. The disclosure for this sale can be found here. In the last three months, insiders sold 144,429 shares of company stock valued at $8,784,264. Insiders own 9.60% of the company’s stock.
Shares of SYSCO Co. (NYSE SYY) opened at $60.70 on Wednesday. The company has a debt-to-equity ratio of 3.66, a quick ratio of 0.85 and a current ratio of 1.38. The firm has a market capitalization of $31,586.52, a PE ratio of 23.01, a price-to-earnings-growth ratio of 2.03 and a beta of 0.60. SYSCO Co. has a one year low of $48.85 and a one year high of $64.27.
SYSCO (NYSE:SYY) last posted its quarterly earnings results on Monday, February 5th. The company reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The business had revenue of $14.41 billion for the quarter, compared to the consensus estimate of $14.15 billion. SYSCO had a return on equity of 61.02% and a net margin of 2.10%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.58 EPS. equities research analysts forecast that SYSCO Co. will post 2.95 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 27th. Stockholders of record on Friday, April 6th will be issued a $0.36 dividend. The ex-dividend date is Thursday, April 5th. This represents a $1.44 annualized dividend and a dividend yield of 2.37%. SYSCO’s dividend payout ratio (DPR) is presently 64.29%.
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Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.
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