Tuttle Tactical Management LLC purchased a new stake in shares of SYSCO Co. (NYSE:SYY) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,021 shares of the company’s stock, valued at approximately $365,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of SYY. Advisors Asset Management Inc. boosted its position in SYSCO by 465.7% during the third quarter. Advisors Asset Management Inc. now owns 2,783 shares of the company’s stock valued at $150,000 after purchasing an additional 2,291 shares during the last quarter. Thompson Siegel & Walmsley LLC boosted its position in SYSCO by 51.9% during the third quarter. Thompson Siegel & Walmsley LLC now owns 2,926 shares of the company’s stock valued at $158,000 after purchasing an additional 1,000 shares during the last quarter. Pacer Advisors Inc. raised its stake in SYSCO by 10.3% in the third quarter. Pacer Advisors Inc. now owns 13,778 shares of the company’s stock valued at $743,000 after buying an additional 1,287 shares during the period. Norinchukin Bank The raised its stake in SYSCO by 6.6% in the third quarter. Norinchukin Bank The now owns 73,220 shares of the company’s stock valued at $3,950,000 after buying an additional 4,520 shares during the period. Finally, Albion Financial Group UT raised its stake in SYSCO by 9.3% in the third quarter. Albion Financial Group UT now owns 31,586 shares of the company’s stock valued at $1,704,000 after buying an additional 2,690 shares during the period. 79.02% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Wayne Shurts sold 7,800 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $58.98, for a total transaction of $460,044.00. Following the transaction, the executive vice president now owns 55,235 shares in the company, valued at $3,257,760.30. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Greg D. Bertrand sold 81,038 shares of the firm’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $60.76, for a total value of $4,923,868.88. Following the transaction, the senior vice president now owns 69,721 shares in the company, valued at approximately $4,236,247.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 164,704 shares of company stock worth $10,012,748. 9.60% of the stock is owned by corporate insiders.
SYSCO Co. (SYY) opened at $59.77 on Friday. The firm has a market capitalization of $31,471.70, a P/E ratio of 22.93, a PEG ratio of 2.02 and a beta of 0.60. 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 52 week low of $48.85 and a 52 week high of $64.27.
SYSCO (NYSE:SYY) last announced its earnings results on Monday, February 5th. The company reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.01. The company had revenue of $14.41 billion for 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 quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.58 earnings per share. research analysts expect that SYSCO Co. will post 2.95 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Stockholders of record on Friday, April 6th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, April 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.41%. SYSCO’s dividend payout ratio (DPR) is currently 64.29%.
Several analysts have issued reports on SYY shares. Loop Capital upped their price objective on SYSCO to $68.00 and gave the company a “buy” rating in a research note on Monday, December 11th. Pivotal Research upped their price objective on SYSCO from $53.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, December 12th. BMO Capital Markets set a $66.00 price objective on SYSCO and gave the company a “buy” rating in a research note on Friday, December 8th. Zacks Investment Research upgraded SYSCO from a “hold” rating to a “strong-buy” rating and set a $71.00 price objective on the stock in a research note on Wednesday, January 10th. Finally, Jefferies Group set a $67.00 price objective on SYSCO and gave the company a “hold” rating in a research note on Monday, February 5th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $65.20.
TRADEMARK VIOLATION NOTICE: “Tuttle Tactical Management LLC Takes $365,000 Position in SYSCO Co. (SYY)” was published by The Lincolnian Online and is the property of of The Lincolnian Online. If you are reading this piece on another domain, it was copied illegally and republished in violation of US and international trademark and copyright legislation. The legal version of this piece can be read at https://www.thelincolnianonline.com/2018/03/23/tuttle-tactical-management-llc-takes-365000-position-in-sysco-co-syy.html.
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.
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.