SVA Plumb Wealth Management LLC lowered its stake in shares of SYSCO Co. (NYSE:SYY) by 4.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,702 shares of the company’s stock after selling 1,333 shares during the period. SVA Plumb Wealth Management LLC’s holdings in SYSCO were worth $1,865,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the company. Ameriprise Financial Inc. raised its stake in shares of SYSCO by 2.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 10,451,813 shares of the company’s stock worth $563,890,000 after purchasing an additional 208,815 shares in the last quarter. Parnassus Investments CA raised its stake in shares of SYSCO by 1.8% during the 4th quarter. Parnassus Investments CA now owns 7,547,366 shares of the company’s stock worth $458,352,000 after purchasing an additional 136,965 shares in the last quarter. American Century Companies Inc. raised its stake in shares of SYSCO by 7.5% during the 4th quarter. American Century Companies Inc. now owns 6,578,176 shares of the company’s stock worth $399,493,000 after purchasing an additional 457,259 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of SYSCO by 4.6% during the 3rd quarter. Janus Henderson Group PLC now owns 5,969,351 shares of the company’s stock worth $322,047,000 after purchasing an additional 261,748 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of SYSCO by 0.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 5,707,166 shares of the company’s stock worth $307,903,000 after purchasing an additional 51,159 shares in the last quarter. Institutional investors own 77.72% of the company’s stock.
SYSCO Co. (NYSE:SYY) opened at $59.68 on Friday. The company has a debt-to-equity ratio of 3.66, a quick ratio of 0.85 and a current ratio of 1.38. The firm has a market capitalization of $30,720.14, a P/E ratio of 22.38, a P/E/G ratio of 1.98 and a beta of 0.56. SYSCO Co. has a 1-year low of $48.85 and a 1-year high of $64.27.
SYSCO (NYSE:SYY) last posted its earnings results on Monday, February 5th. The company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. The business had revenue of $14.41 billion for the quarter, compared to analyst estimates of $14.15 billion. SYSCO had a return on equity of 61.02% and a net margin of 2.10%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.58 EPS. analysts anticipate that SYSCO Co. will post 2.95 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Friday, April 6th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.41%. SYSCO’s payout ratio is presently 64.29%.
In other SYSCO news, SVP Greg D. Bertrand sold 81,038 shares of the company’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $60.76, for a total value of $4,923,868.88. Following the transaction, the senior vice president now directly owns 69,721 shares of the company’s stock, valued at approximately $4,236,247.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP William W. Goetz sold 11,323 shares of the company’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $62.00, for a total value 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 $2,221,150. The disclosure for this sale can be found here. Insiders have sold a total of 152,495 shares of company stock worth $9,219,267 over the last three months. 9.60% of the stock is owned by insiders.
A number of equities research analysts have recently issued reports on SYY shares. Bank of America upped their price objective on SYSCO from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Tuesday, February 6th. Loop Capital dropped their price objective on SYSCO from $72.00 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday, February 6th. Pivotal Research dropped their price objective on SYSCO from $68.00 to $61.00 and set a “buy” rating on the stock in a research note on Tuesday, February 6th. BMO Capital Markets set a $66.00 price objective on SYSCO and gave the stock a “buy” rating in a research note on Friday, December 8th. Finally, Morgan Stanley raised SYSCO from an “underweight” rating to an “equal weight” rating and set a $64.00 target price on the stock in a report on Tuesday, January 16th. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $65.20.
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SYSCO Company 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.
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