Neuburgh Advisers LLC raised its stake in shares of Sysco (NYSE:SYY) by 16.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 80,768 shares of the company’s stock after purchasing an additional 11,472 shares during the quarter. Neuburgh Advisers LLC’s holdings in Sysco were worth $4,843,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. Tiverton Asset Management LLC purchased a new position in Sysco during the 1st quarter valued at $222,000. State Treasurer State of Michigan increased its position in Sysco by 0.6% during the 1st quarter. State Treasurer State of Michigan now owns 141,379 shares of the company’s stock valued at $8,477,000 after purchasing an additional 900 shares during the period. Wunderlich Capital Managemnt increased its position in Sysco by 268.9% during the 1st quarter. Wunderlich Capital Managemnt now owns 24,152 shares of the company’s stock valued at $1,448,000 after purchasing an additional 17,605 shares during the period. Ardevora Asset Management LLP increased its position in Sysco by 1.7% during the 1st quarter. Ardevora Asset Management LLP now owns 451,300 shares of the company’s stock valued at $27,060,000 after purchasing an additional 7,700 shares during the period. Finally, Smith Asset Management Group LP increased its position in Sysco by 6.9% during the 1st quarter. Smith Asset Management Group LP now owns 1,153,472 shares of the company’s stock valued at $69,171,000 after purchasing an additional 74,207 shares during the period. 79.65% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have issued reports on the stock. Morgan Stanley reissued a “hold” rating and set a $61.00 price objective (down from $64.00) on shares of Sysco in a research report on Tuesday, May 8th. Zacks Investment Research raised shares of Sysco from a “sell” rating to a “hold” rating in a research report on Wednesday, May 9th. Loop Capital boosted their price objective on shares of Sysco from $68.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Pivotal Research reduced their price objective on shares of Sysco from $61.00 to $56.00 and set a “buy” rating on the stock in a research report on Wednesday, May 2nd. Finally, Credit Suisse Group assumed coverage on shares of Sysco in a research report on Tuesday, April 17th. They set an “outperform” rating and a $68.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $65.64.
In other news, EVP Wayne Shurts sold 7,800 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $58.98, for a total transaction of $460,044.00. Following the sale, the executive vice president now owns 55,235 shares in the company, valued at approximately $3,257,760.30. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Paul T. Moskowitz sold 15,333 shares of the company’s stock in a transaction dated Monday, May 7th. The stock was sold at an average price of $64.00, for a total transaction of $981,312.00. Following the completion of the transaction, the insider now owns 58,328 shares in the company, valued at approximately $3,732,992. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 94,409 shares of company stock worth $5,820,248. Company insiders own 9.60% of the company’s stock.
Shares of SYY stock opened at $62.95 on Wednesday. Sysco has a 12 month low of $62.54 and a 12 month high of $63.20. The firm has a market cap of $32.77 billion, a PE ratio of 22.55, a price-to-earnings-growth ratio of 2.12 and a beta of 0.55. The company has a current ratio of 1.44, a quick ratio of 0.90 and a debt-to-equity ratio of 3.76.
Sysco (NYSE:SYY) last announced its earnings results on Monday, May 7th. The company reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.04. Sysco had a net margin of 2.23% and a return on equity of 64.33%. The firm had revenue of $14.35 billion for the quarter, compared to analysts’ expectations of $14.32 billion. During the same quarter in the previous year, the business posted $0.51 EPS. The company’s quarterly revenue was up 6.1% on a year-over-year basis. analysts expect that Sysco will post 2.96 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, April 27th. Stockholders of record on Friday, April 6th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date was Thursday, April 5th. Sysco’s dividend payout ratio (DPR) is presently 58.06%.
Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry in the United States, Canada, Bahamas, Mexico, Costa Rica, Panama, the United Kingdom, France, Sweden, Ireland, Belgium, Spain, and Luxembourg.
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