Strategy Asset Managers LLC Has $2.46 Million Position in SYSCO Co. (SYY)

Strategy Asset Managers LLC decreased its position in shares of SYSCO Co. (NYSE:SYY) by 54.9% during the 1st quarter, HoldingsChannel reports. The fund owned 36,810 shares of the company’s stock after selling 44,833 shares during the period. Strategy Asset Managers LLC’s holdings in SYSCO were worth $2,457,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sontag Advisory LLC acquired a new stake in SYSCO in the fourth quarter valued at approximately $25,000. Advisors Preferred LLC acquired a new stake in SYSCO in the first quarter valued at approximately $26,000. Focused Wealth Management Inc boosted its position in SYSCO by 244.1% in the fourth quarter. Focused Wealth Management Inc now owns 468 shares of the company’s stock valued at $29,000 after buying an additional 332 shares in the last quarter. Athena Capital Advisors LLC acquired a new stake in SYSCO in the fourth quarter valued at approximately $29,000. Finally, Valley National Advisers Inc. boosted its position in SYSCO by 60.5% in the fourth quarter. Valley National Advisers Inc. now owns 472 shares of the company’s stock valued at $30,000 after buying an additional 178 shares in the last quarter. Institutional investors and hedge funds own 80.61% of the company’s stock.

In other news, Director Trian Fund Management, L.P. sold 707,000 shares of SYSCO stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $66.30, for a total transaction of $46,874,100.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 7.88% of the stock is currently owned by insiders.

SYY has been the topic of a number of research analyst reports. Pivotal Research restated a “sell” rating and issued a $54.00 target price on shares of SYSCO in a research report on Friday, February 1st. Zacks Investment Research lowered shares of SYSCO from a “buy” rating to a “hold” rating in a research report on Friday. Buckingham Research raised their target price on shares of SYSCO from $82.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Loop Capital set a $75.00 target price on shares of SYSCO and gave the company a “buy” rating in a research report on Tuesday, February 5th. Finally, Morgan Stanley raised their target price on shares of SYSCO from $69.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $74.46.

Shares of NYSE:SYY traded up $0.36 during mid-day trading on Tuesday, reaching $75.32. 513,372 shares of the company’s stock were exchanged, compared to its average volume of 2,886,192. The firm has a market cap of $38.51 billion, a PE ratio of 23.99, a price-to-earnings-growth ratio of 2.15 and a beta of 0.55. The company has a debt-to-equity ratio of 3.44, a quick ratio of 0.79 and a current ratio of 1.30. SYSCO Co. has a twelve month low of $59.44 and a twelve month high of $75.98.

SYSCO (NYSE:SYY) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.09. The company had revenue of $14.66 billion for the quarter, compared to analyst estimates of $14.78 billion. SYSCO had a net margin of 2.65% and a return on equity of 73.66%. SYSCO’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.67 earnings per share. Sell-side analysts forecast that SYSCO Co. will post 3.52 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 5th were issued a dividend of $0.39 per share. The ex-dividend date was Thursday, April 4th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.07%. SYSCO’s dividend payout ratio (DPR) is presently 49.68%.

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SYSCO Company Profile

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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Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

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