Xact Kapitalforvaltning AB lifted its holdings in shares of SYSCO Co. (NYSE:SYY) by 4.7% during the 4th quarter, Holdings Channel reports. The firm owned 109,419 shares of the company’s stock after purchasing an additional 4,939 shares during the period. Xact Kapitalforvaltning AB’s holdings in SYSCO were worth $6,645,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in the company. Summit X LLC grew its holdings in shares of SYSCO by 9.5% during the fourth quarter. Summit X LLC now owns 9,077 shares of the company’s stock worth $551,000 after purchasing an additional 790 shares during the last quarter. Fiduciary Trust Co. grew its holdings in shares of SYSCO by 1.3% during the fourth quarter. Fiduciary Trust Co. now owns 62,376 shares of the company’s stock worth $3,788,000 after purchasing an additional 824 shares during the last quarter. Redmond Asset Management LLC grew its holdings in shares of SYSCO by 13.8% during the fourth quarter. Redmond Asset Management LLC now owns 7,123 shares of the company’s stock worth $433,000 after purchasing an additional 863 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in shares of SYSCO by 7.6% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 12,315 shares of the company’s stock worth $748,000 after purchasing an additional 866 shares during the last quarter. Finally, Cognios Capital LLC grew its holdings in shares of SYSCO by 2.3% during the fourth quarter. Cognios Capital LLC now owns 38,935 shares of the company’s stock worth $2,362,000 after purchasing an additional 867 shares during the last quarter. Institutional investors own 79.02% of the company’s stock.
In other SYSCO news, SVP William W. Goetz sold 11,323 shares of the stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $62.00, for a total value of $702,026.00. Following the transaction, the senior vice president now owns 35,825 shares of the company’s stock, valued at $2,221,150. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard G. Tilghman sold 5,000 shares of the stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $59.80, for a total value of $299,000.00. Following the completion of the transaction, the director now directly owns 90,552 shares in the company, valued at approximately $5,415,009.60. The disclosure for this sale can be found here. Insiders sold 164,704 shares of company stock worth $10,012,748 in the last three months. Insiders own 9.60% of the company’s stock.
SYY stock opened at $59.32 on Friday. SYSCO Co. has a one year low of $48.85 and a one year high of $64.27. The company has a quick ratio of 0.85, a current ratio of 1.38 and a debt-to-equity ratio of 3.66. The firm has a market capitalization of $31,195.08, a PE ratio of 22.73, a price-to-earnings-growth ratio of 2.01 and a beta of 0.60.
SYSCO (NYSE:SYY) last released its earnings results on Monday, February 5th. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.01. SYSCO had a return on equity of 61.02% and a net margin of 2.10%. The firm had revenue of $14.41 billion for the quarter, compared to analyst estimates of $14.15 billion. During the same quarter in the prior year, the firm posted $0.58 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. equities research analysts expect that SYSCO Co. will post 2.95 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Shareholders of record on Friday, April 6th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 2.43%. The ex-dividend date is Thursday, April 5th. SYSCO’s payout ratio is 64.29%.
Several equities analysts recently issued reports on the company. Morgan Stanley upgraded SYSCO from an “underweight” rating to an “equal weight” rating and set a $64.00 price target on the stock in a report on Tuesday, January 16th. Jefferies Group set a $67.00 price target on SYSCO and gave the company a “hold” rating in a report on Monday, February 5th. BMO Capital Markets set a $74.00 price target on SYSCO and gave the company a “buy” rating in a report on Monday, February 5th. Loop Capital raised their price target on SYSCO from $68.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Finally, Pivotal Research decreased their price target on SYSCO from $68.00 to $61.00 and set a “buy” rating on the stock in a report on Tuesday, February 6th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. SYSCO presently has a consensus rating of “Hold” and an average price target 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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