Premia Global Advisors LLC acquired a new position in shares of SYSCO Co. (NYSE:SYY) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,223 shares of the company’s stock, valued at approximately $195,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of SYY. Miller Howard Investments Inc. NY purchased a new position in shares of SYSCO in the 4th quarter worth about $60,798,000. Amundi Pioneer Asset Management Inc. purchased a new position in shares of SYSCO in the 4th quarter worth about $31,092,000. American Century Companies Inc. boosted its holdings in shares of SYSCO by 7.5% in 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 shares of SYSCO in the 4th quarter worth about $22,864,000. Finally, Retirement Systems of Alabama boosted its holdings in shares of SYSCO by 126.1% in 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 currently owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on SYY shares. Loop Capital boosted their price target on shares of SYSCO to $68.00 and gave the stock a “buy” rating in a report on Monday, December 11th. Royal Bank of Canada reissued a “sector perform” rating and issued a $61.00 price target on shares of SYSCO in a report on Tuesday, February 6th. BMO Capital Markets set a $66.00 price target on shares of SYSCO and gave the stock a “buy” rating in a report on Friday, December 8th. Morgan Stanley raised shares of SYSCO from an “underweight” rating to an “equal weight” rating and set a $64.00 price target on the stock in a report on Tuesday, January 16th. Finally, Pivotal Research boosted their price target on shares of SYSCO from $53.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, December 12th. Six investment 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 company has an average rating of “Buy” and an average target price of $65.20.
In other SYSCO news, SVP Greg D. Bertrand sold 81,038 shares of the company’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $60.76, for a total transaction of $4,923,868.88. Following the sale, the senior vice president now directly owns 69,721 shares of the company’s stock, valued at $4,236,247.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Wayne Shurts sold 7,800 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $58.98, for a total transaction of $460,044.00. Following the sale, the executive vice president now directly owns 55,235 shares in the company, valued at $3,257,760.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 144,429 shares of company stock worth $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 market cap 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 fifty-two week low of $48.85 and a fifty-two week high of $64.27. The company has a current ratio of 1.38, a quick ratio of 0.85 and a debt-to-equity ratio of 3.66.
SYSCO (NYSE:SYY) last released its quarterly earnings data on Monday, February 5th. The company reported $0.66 EPS 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 net margin of 2.10% and a return on equity of 61.02%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.58 earnings per share. equities research analysts anticipate that SYSCO Co. will post 2.95 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 27th. Shareholders of record on Friday, April 6th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.37%. The ex-dividend date is Thursday, April 5th. SYSCO’s dividend payout ratio (DPR) is presently 64.29%.
TRADEMARK VIOLATION NOTICE: This report was reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this report on another site, it was copied illegally and republished in violation of United States and international copyright legislation. The legal version of this report can be viewed at https://ledgergazette.com/2018/03/14/premia-global-advisors-llc-takes-position-in-sysco-co-syy.html.
SYSCO Company Profile
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.
Want to see what other hedge funds are holding SYY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SYSCO Co. (NYSE:SYY).
Receive News & Ratings for SYSCO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SYSCO and related companies with MarketBeat.com's FREE daily email newsletter.