Pinnacle Financial Partners Inc. grew its stake in shares of SYSCO Co. (NYSE:SYY) by 75.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,584 shares of the company’s stock after acquiring an additional 13,619 shares during the quarter. Pinnacle Financial Partners Inc.’s holdings in SYSCO were worth $1,918,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of SYY. Cetera Advisors LLC increased its position in SYSCO by 12.5% during the 4th quarter. Cetera Advisors LLC now owns 14,351 shares of the company’s stock worth $873,000 after purchasing an additional 1,590 shares in the last quarter. Sei Investments Co. increased its position in SYSCO by 1.4% during the 4th quarter. Sei Investments Co. now owns 283,067 shares of the company’s stock worth $17,191,000 after purchasing an additional 3,936 shares in the last quarter. New Mexico Educational Retirement Board increased its position in SYSCO by 2.0% during the 4th quarter. New Mexico Educational Retirement Board now owns 46,644 shares of the company’s stock worth $2,833,000 after purchasing an additional 900 shares in the last quarter. Carnick & Kubik Group LLC increased its position in SYSCO by 5.5% during the 4th quarter. Carnick & Kubik Group LLC now owns 49,541 shares of the company’s stock worth $3,009,000 after purchasing an additional 2,571 shares in the last quarter. Finally, Pegasus Partners Ltd. increased its position in SYSCO by 31.4% during the 4th quarter. Pegasus Partners Ltd. now owns 21,598 shares of the company’s stock worth $1,312,000 after purchasing an additional 5,163 shares in the last quarter. 79.35% of the stock is owned by institutional investors.
A number of analysts recently issued reports on SYY shares. Loop Capital increased their target price on shares of SYSCO to $68.00 and gave the stock a “buy” rating in a research report on Monday, December 11th. Royal Bank of Canada restated a “sector perform” rating and issued a $61.00 price target on shares of SYSCO in a report on Tuesday, February 6th. Zacks Investment Research cut SYSCO from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Pivotal Research restated a “hold” rating and issued a $53.00 price target on shares of SYSCO in a report on Sunday, November 5th. Finally, BMO Capital Markets set a $66.00 price target on SYSCO and gave the stock a “buy” rating in a report on Friday, December 8th. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $65.20.
SYSCO Co. (NYSE:SYY) opened at $58.42 on Wednesday. The firm has a market capitalization of $30,339.14, a P/E ratio of 22.10, a price-to-earnings-growth ratio of 1.95 and a beta of 0.56. SYSCO Co. has a fifty-two week low of $48.85 and a fifty-two 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 released its quarterly earnings results on Monday, February 5th. The company reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.01. The firm had revenue of $14.41 billion during the quarter, compared to analysts’ expectations of $14.15 billion. SYSCO had a return on equity of 61.02% and a net margin of 2.10%. SYSCO’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.58 EPS. equities analysts forecast that SYSCO Co. will post 2.95 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, January 26th. Shareholders of record on Friday, January 5th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date was Thursday, January 4th. This is a boost from SYSCO’s previous quarterly dividend of $0.33. SYSCO’s dividend payout ratio is currently 64.29%.
In other news, SVP William W. Goetz sold 11,323 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $62.00, for a total transaction of $702,026.00. Following the completion of the transaction, the senior vice president now directly owns 35,825 shares in the company, valued at approximately $2,221,150. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Wayne Shurts sold 15,600 shares of the stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $56.66, for a total value of $883,896.00. Following the transaction, the insider now owns 56,985 shares of the company’s stock, valued at $3,228,770.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 144,695 shares of company stock valued at $8,759,223. Company insiders own 9.60% of the company’s stock.
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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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