Centerpoint Advisors LLC lowered its position in SYSCO Co. (NYSE:SYY) by 54.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,171 shares of the company’s stock after selling 1,373 shares during the quarter. Centerpoint Advisors LLC’s holdings in SYSCO were worth $73,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Financial Counselors Inc. grew its holdings in SYSCO by 1.8% during the 4th quarter. Financial Counselors Inc. now owns 8,904 shares of the company’s stock valued at $558,000 after buying an additional 161 shares during the last quarter. Northwest Quadrant Wealth Management LLC grew its holdings in SYSCO by 4.3% during the 4th quarter. Northwest Quadrant Wealth Management LLC now owns 5,225 shares of the company’s stock valued at $325,000 after buying an additional 216 shares during the last quarter. Davis R M Inc. grew its holdings in SYSCO by 4.9% during the 4th quarter. Davis R M Inc. now owns 4,775 shares of the company’s stock valued at $299,000 after buying an additional 225 shares during the last quarter. Security National Trust Co. grew its holdings in SYSCO by 11.9% during the 4th quarter. Security National Trust Co. now owns 2,350 shares of the company’s stock valued at $147,000 after buying an additional 250 shares during the last quarter. Finally, Ironvine Capital Partners LLC grew its holdings in SYSCO by 1.1% during the 4th quarter. Ironvine Capital Partners LLC now owns 25,150 shares of the company’s stock valued at $1,566,000 after buying an additional 283 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.
Shares of SYSCO stock opened at $66.29 on Tuesday. SYSCO Co. has a fifty-two week low of $57.92 and a fifty-two week high of $75.98. The firm has a market cap of $33.99 billion, a price-to-earnings ratio of 21.11, a price-to-earnings-growth ratio of 1.89 and a beta of 0.53. The company has a debt-to-equity ratio of 3.70, a quick ratio of 0.76 and a current ratio of 1.25.
SYSCO (NYSE:SYY) last issued its quarterly earnings results on Monday, February 4th. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. SYSCO had a return on equity of 71.45% and a net margin of 2.48%. The company had revenue of $14.80 billion for the quarter, compared to analyst estimates of $14.75 billion. During the same quarter in the prior year, the company posted $0.78 EPS. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. Analysts expect that SYSCO Co. will post 3.4 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, January 25th. Shareholders of record on Friday, January 4th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date was Thursday, January 3rd. This is a positive change from SYSCO’s previous quarterly dividend of $0.36. SYSCO’s dividend payout ratio is currently 49.68%.
A number of equities research analysts have commented on SYY shares. Buckingham Research started coverage on SYSCO in a report on Monday, October 22nd. They set a “buy” rating and a $82.00 target price on the stock. Royal Bank of Canada set a $67.00 target price on SYSCO and gave the company a “hold” rating in a report on Friday, November 2nd. Pivotal Research reiterated a “sell” rating and set a $62.00 target price on shares of SYSCO in a report on Friday, November 2nd. ValuEngine cut SYSCO from a “buy” rating to a “hold” rating in a report on Tuesday, November 6th. Finally, Loop Capital lowered their target price on SYSCO to $75.00 and set a “buy” rating on the stock in a report on Tuesday, November 6th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. SYSCO presently has an average rating of “Hold” and a consensus target price of $72.92.
In related news, Director Trian Fund Management, L.P. sold 2,215,532 shares of the stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $66.45, for a total value of $147,222,101.40. Following the transaction, the director now directly owns 7,055 shares of the company’s stock, valued at approximately $468,804.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard G. Tilghman sold 5,000 shares of the stock in a transaction on Thursday, November 15th. The stock was sold at an average price of $66.17, for a total value of $330,850.00. Following the completion of the transaction, the director now directly owns 7,055 shares in the company, valued at $466,829.35. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,827,484 shares of company stock worth $254,213,821. Corporate insiders own 7.88% of the company’s stock.
Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.
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