Lake Street Advisors Group LLC purchased a new position in SYSCO Co. (NYSE:SYY) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 5,730 shares of the company’s stock, valued at approximately $348,000.
A number of other institutional investors and hedge funds also recently modified their holdings of SYY. Valeo Financial Advisors LLC increased its stake in SYSCO by 98.7% in the 4th quarter. Valeo Financial Advisors LLC now owns 2,267 shares of the company’s stock worth $138,000 after purchasing an additional 1,126 shares in the last quarter. Advisors Asset Management Inc. increased its stake in SYSCO by 465.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,783 shares of the company’s stock worth $150,000 after purchasing an additional 2,291 shares in the last quarter. Thompson Siegel & Walmsley LLC increased its stake in SYSCO by 51.9% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 2,926 shares of the company’s stock worth $158,000 after purchasing an additional 1,000 shares in the last quarter. Trustcore Financial Services LLC purchased a new position in SYSCO in the 4th quarter worth about $194,000. Finally, Premia Global Advisors LLC purchased a new position in SYSCO in the 4th quarter worth about $195,000. 79.02% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on SYY. Morgan Stanley raised 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. Jefferies Group set a $67.00 target price on SYSCO and gave the company a “hold” rating in a research note on Monday, February 5th. BMO Capital Markets set a $74.00 target price on SYSCO and gave the company a “buy” rating in a research note on Monday, February 5th. Loop Capital lifted their target price on SYSCO from $68.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Finally, Pivotal Research lowered their target price on SYSCO from $68.00 to $61.00 and set a “buy” rating on the stock in a research note on Tuesday, February 6th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $65.20.
SYSCO stock opened at $60.30 on Thursday. The company has a debt-to-equity ratio of 3.66, a quick ratio of 0.85 and a current ratio of 1.38. SYSCO Co. has a 12 month low of $48.85 and a 12 month high of $64.27. The firm has a market capitalization of $31,539.55, a PE ratio of 22.98, a price-to-earnings-growth ratio of 2.03 and a beta of 0.60.
SYSCO (NYSE:SYY) last announced its quarterly earnings results on Monday, February 5th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The business had revenue of $14.41 billion during the quarter, compared to analyst estimates of $14.15 billion. SYSCO had a return on equity of 61.02% and a net margin of 2.10%. The firm’s revenue was up 7.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.58 EPS. equities research analysts forecast that SYSCO Co. will post 2.95 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 27th. Stockholders of record on Friday, April 6th will be issued a dividend of $0.36 per share. The ex-dividend date is Thursday, April 5th. This represents a $1.44 annualized dividend and a dividend yield of 2.39%. SYSCO’s dividend payout ratio is 64.29%.
In other news, SVP Greg D. Bertrand sold 81,038 shares of SYSCO stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $60.76, for a total transaction of $4,923,868.88. Following the completion of the sale, the senior vice president now directly owns 69,721 shares in the company, valued at approximately $4,236,247.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul T. Moskowitz sold 15,334 shares of SYSCO stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $60.69, for a total value of $930,620.46. Following the sale, the insider now owns 58,329 shares of the company’s stock, valued at $3,539,987.01. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 164,704 shares of company stock valued at $10,012,748. 9.60% of the stock is owned by corporate insiders.
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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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