Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its stake in shares of SYSCO Co. (NYSE:SYY) by 6.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 232,254 shares of the company’s stock after selling 15,398 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in SYSCO were worth $14,105,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in SYY. Macquarie Group Ltd. boosted its holdings in shares of SYSCO by 237.6% in the 2nd quarter. Macquarie Group Ltd. now owns 66,500 shares of the company’s stock valued at $3,340,000 after buying an additional 46,800 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in shares of SYSCO by 12.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 34,726 shares of the company’s stock valued at $1,748,000 after buying an additional 3,726 shares during the period. Simmons Bank boosted its holdings in shares of SYSCO by 1.5% in the 2nd quarter. Simmons Bank now owns 26,343 shares of the company’s stock valued at $1,326,000 after buying an additional 377 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of SYSCO by 2.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,023,736 shares of the company’s stock valued at $51,525,000 after buying an additional 24,371 shares during the period. Finally, Balentine LLC boosted its holdings in shares of SYSCO by 2,155.3% in the 2nd quarter. Balentine LLC now owns 8,570 shares of the company’s stock valued at $431,000 after buying an additional 8,190 shares during the period. 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 value of $481,728.00. Following the sale, the executive vice president now directly owns 55,235 shares in the company, valued at approximately $3,411,313.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Russell T. Libby sold 13,334 shares of SYSCO stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $60.69, for a total transaction of $809,240.46. Following the completion of the sale, the insider now owns 64,394 shares in the company, valued at $3,908,071.86. The disclosure for this sale can be found here. Over the last quarter, insiders sold 144,695 shares of company stock worth $8,759,223. 9.60% of the stock is currently owned by insiders.
Several research analysts have recently commented on SYY shares. Pivotal Research reaffirmed a “hold” rating and issued a $53.00 price target on shares of SYSCO in a report on Sunday, November 5th. Zacks Investment Research lowered shares of SYSCO from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. BMO Capital Markets set a $66.00 price target on shares of SYSCO and gave the company a “buy” rating in a report on Friday, December 8th. Loop Capital lifted their price target on shares of SYSCO to $68.00 and gave the company a “buy” rating in a report on Monday, December 11th. Finally, Morgan Stanley raised shares of SYSCO from an “underweight” rating to an “equal weight” rating and set a $64.00 price target for the company in a report on Tuesday, January 16th. Six analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $65.20.
Shares of SYSCO Co. (NYSE:SYY) opened at $58.42 on Wednesday. The firm has a market cap of $30,339.14, a PE ratio of 26.08, a P/E/G ratio of 1.95 and a beta of 0.56. SYSCO Co. has a 52-week low of $48.85 and a 52-week high of $64.27. The company has a debt-to-equity ratio of 3.66, a current ratio of 1.38 and a quick ratio of 0.85.
SYSCO (NYSE:SYY) last issued its quarterly earnings data on Monday, February 5th. The company reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The firm had revenue of $14.41 billion for the quarter, compared to the consensus estimate of $14.15 billion. SYSCO had a net margin of 2.10% and a return on equity of 61.02%. SYSCO’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period last year, the firm posted $0.58 EPS. equities analysts predict that SYSCO Co. will post 2.95 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Friday, January 5th were given a $0.36 dividend. The ex-dividend date was Thursday, January 4th. This is an increase from SYSCO’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a yield of 2.46%. SYSCO’s dividend payout ratio (DPR) is currently 64.29%.
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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.
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