Providence Capital Advisors LLC raised its position in SYSCO Co. (NYSE:SYY) by 1.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,939 shares of the company’s stock after buying an additional 514 shares during the period. Providence Capital Advisors LLC’s holdings in SYSCO were worth $2,188,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in SYSCO by 4.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,401,640 shares of the company’s stock worth $87,825,000 after acquiring an additional 54,838 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of SYSCO by 20.5% in the 4th quarter. Geode Capital Management LLC now owns 6,331,895 shares of the company’s stock valued at $396,070,000 after purchasing an additional 1,076,459 shares during the last quarter. Cornerstone Advisors Inc. lifted its stake in shares of SYSCO by 40.4% in the 1st quarter. Cornerstone Advisors Inc. now owns 577 shares of the company’s stock valued at $39,000 after purchasing an additional 166 shares during the last quarter. South Dakota Investment Council bought a new stake in SYSCO in the first quarter worth $1,669,000. Finally, Carillon Tower Advisers Inc. boosted its holdings in SYSCO by 13.7% in the first quarter. Carillon Tower Advisers Inc. now owns 257,408 shares of the company’s stock worth $17,184,000 after purchasing an additional 31,090 shares in the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.
In other news, Director Hans-Joachim Koerber sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $73.35, for a total transaction of $733,500.00. Following the transaction, the director now owns 52,872 shares in the company, valued at approximately $3,878,161.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 7.88% of the company’s stock.
Several research firms have weighed in on SYY. Wells Fargo & Co restated a “buy” rating on shares of SYSCO in a report on Monday, August 12th. JPMorgan Chase & Co. upped their price target on SYSCO from $75.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Barclays increased their price objective on SYSCO from $70.00 to $71.00 and gave the company an “equal weight” rating in a report on Tuesday, August 13th. Consumer Edge initiated coverage on SYSCO in a research note on Wednesday, July 17th. They issued an “underweight” rating and a $71.75 price objective on the stock. Finally, Zacks Investment Research lowered SYSCO from a “buy” rating to a “hold” rating and set a $75.00 target price for the company. in a report on Tuesday, June 11th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. SYSCO presently has a consensus rating of “Hold” and an average price target of $73.60.
SYSCO stock traded up $0.33 on Wednesday, reaching $77.08. 247,258 shares of the stock were exchanged, compared to its average volume of 2,708,182. The stock has a market cap of $39.57 billion, a PE ratio of 21.70, a PEG ratio of 2.13 and a beta of 0.48. The company has a current ratio of 1.33, a quick ratio of 0.81 and a debt-to-equity ratio of 3.25. SYSCO Co. has a twelve month low of $59.44 and a twelve month high of $77.18. The firm has a fifty day moving average price of $72.24 and a two-hundred day moving average price of $70.63.
SYSCO (NYSE:SYY) last released its quarterly earnings results on Monday, August 12th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.03. SYSCO had a net margin of 2.79% and a return on equity of 76.80%. The company had revenue of $15.47 billion during the quarter, compared to analysts’ expectations of $15.65 billion. During the same period in the prior year, the company earned $0.94 earnings per share. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. Equities analysts anticipate that SYSCO Co. will post 3.81 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be paid a dividend of $0.39 per share. The ex-dividend date is Thursday, October 3rd. This represents a $1.56 annualized dividend and a yield of 2.02%. SYSCO’s payout ratio is 43.94%.
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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