Bredin Investment LLC Purchases New Holdings in SYSCO Co. (NYSE:SYY)

Bredin Investment LLC bought a new stake in shares of SYSCO Co. (NYSE:SYY) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,420 shares of the company’s stock, valued at approximately $509,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. First Personal Financial Services grew its stake in shares of SYSCO by 293.2% in the 3rd quarter. First Personal Financial Services now owns 1,962 shares of the company’s stock worth $106,000 after buying an additional 1,463 shares in the last quarter. Acrospire Investment Management LLC grew its stake in shares of SYSCO by 84.6% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,400 shares of the company’s stock worth $121,000 after buying an additional 1,100 shares in the last quarter. Manchester Capital Management LLC grew its stake in shares of SYSCO by 13.4% in the 2nd quarter. Manchester Capital Management LLC now owns 2,538 shares of the company’s stock worth $128,000 after buying an additional 300 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of 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 buying an additional 2,291 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC grew its stake in shares of 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 buying an additional 1,000 shares in the last quarter. 79.35% of the stock is owned by institutional investors.

In related news, EVP Wayne Shurts sold 7,800 shares of SYSCO stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $61.76, for a total transaction of $481,728.00. Following the completion of the sale, the executive vice president now owns 55,235 shares in the company, valued at approximately $3,411,313.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Greg D. Bertrand sold 81,038 shares of SYSCO stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $60.76, for a total transaction of $4,923,868.88. Following the sale, the senior vice president now owns 69,721 shares of the company’s stock, valued at approximately $4,236,247.96. The disclosure for this sale can be found here. Insiders have sold a total of 144,695 shares of company stock valued at $8,759,223 in the last quarter. 9.60% of the stock is currently owned by company insiders.

A number of equities analysts have commented on the stock. BMO Capital Markets set a $74.00 price objective on shares of SYSCO and gave the stock a “buy” rating in a research note on Monday, February 5th. Pivotal Research dropped their price objective on shares of SYSCO from $68.00 to $61.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. Jefferies Group set a $67.00 price objective on shares of SYSCO and gave the stock a “hold” rating in a research note on Monday, February 5th. Bank of America lifted their price objective on shares of SYSCO from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $61.00 target price on shares of SYSCO in a report on Tuesday, February 6th. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $65.20.

SYSCO Co. (NYSE:SYY) traded down $0.07 during trading on Wednesday, hitting $58.35. 2,551,310 shares of the stock traded hands, compared to its average volume of 2,740,131. The company has a market cap of $30,390.00, a price-to-earnings ratio of 26.17, a PEG ratio of 1.95 and a beta of 0.56. The company has a quick ratio of 0.85, a current ratio of 1.38 and a debt-to-equity ratio of 3.66. SYSCO Co. has a 12-month low of $48.85 and a 12-month high of $64.27.

SYSCO (NYSE:SYY) last released its earnings results on Monday, February 5th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. SYSCO had a net margin of 2.10% and a return on equity of 61.02%. The firm had revenue of $14.41 billion during the quarter, compared to analyst estimates of $14.15 billion. During the same quarter last year, the business earned $0.58 EPS. The business’s revenue was up 7.1% on a year-over-year basis. equities analysts forecast that SYSCO Co. will post 2.95 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Friday, January 5th were issued a dividend of $0.36 per share. This is a positive change from SYSCO’s previous quarterly dividend of $0.33. The ex-dividend date was Thursday, January 4th. This represents a $1.44 dividend on an annualized basis and a yield of 2.47%. SYSCO’s dividend payout ratio (DPR) is presently 64.57%.

ILLEGAL ACTIVITY NOTICE: “Bredin Investment LLC Purchases New Holdings in SYSCO Co. (NYSE:SYY)” was first published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this news story on another website, it was stolen and reposted in violation of US and international copyright & trademark laws. The correct version of this news story can be accessed at https://www.dispatchtribunal.com/2018/02/14/8420-shares-in-sysco-co-syy-acquired-by-bredin-investment-llc.html.

SYSCO Profile

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.

Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

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.

Leave a Reply