Strategic Wealth Partners Ltd. lifted its holdings in shares of SYSCO Co. (NYSE:SYY) by 17.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,621 shares of the company’s stock after purchasing an additional 386 shares during the period. Strategic Wealth Partners Ltd.’s holdings in SYSCO were worth $192,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of SYSCO by 3.9% during the third quarter. Vanguard Group Inc. now owns 41,599,601 shares of the company’s stock worth $3,047,170,000 after purchasing an additional 1,549,255 shares during the period. Bank of America Corp DE increased its stake in SYSCO by 64.6% in the second quarter. Bank of America Corp DE now owns 17,662,742 shares of the company’s stock valued at $1,206,188,000 after acquiring an additional 6,929,805 shares during the last quarter. Janus Henderson Group PLC increased its stake in SYSCO by 1.2% in the second quarter. Janus Henderson Group PLC now owns 5,903,214 shares of the company’s stock valued at $403,131,000 after acquiring an additional 68,148 shares during the last quarter. Morgan Stanley increased its stake in SYSCO by 26.0% in the third quarter. Morgan Stanley now owns 4,910,163 shares of the company’s stock valued at $359,669,000 after acquiring an additional 1,013,430 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in SYSCO by 4.3% in the third quarter. Legal & General Group Plc now owns 2,511,027 shares of the company’s stock valued at $183,937,000 after acquiring an additional 102,970 shares during the last quarter. 79.31% of the stock is currently owned by institutional investors.
In other SYSCO news, Director Richard G. Tilghman sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $73.71, for a total value of $368,550.00. Following the sale, the director now owns 61,137 shares in the company, valued at $4,506,408.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Trian Fund Management, L.P. sold 2,115,358 shares of the firm’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $74.81, for a total transaction of $158,249,931.98. Following the completion of the sale, the director now owns 4,005 shares in the company, valued at approximately $299,614.05. The disclosure for this sale can be found here. Insiders sold 6,884,031 shares of company stock worth $484,008,301 in the last 90 days. Company insiders own 7.88% of the company’s stock.
SYSCO stock traded down $0.56 during mid-day trading on Friday, reaching $65.38. The company had a trading volume of 11,838 shares, compared to its average volume of 3,242,506. SYSCO Co. has a fifty-two week low of $56.01 and a fifty-two week high of $75.98. The company has a debt-to-equity ratio of 3.00, a current ratio of 1.30 and a quick ratio of 0.80. The firm has a market capitalization of $34.37 billion, a P/E ratio of 20.77, a P/E/G ratio of 1.87 and a beta of 0.54.
SYSCO (NYSE:SYY) last issued its earnings results on Monday, November 5th. The company reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.01). SYSCO had a net margin of 2.52% and a return on equity of 68.81%. The company had revenue of $15.22 billion during the quarter, compared to analyst estimates of $15.39 billion. During the same quarter in the prior year, the business earned $0.74 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. On average, analysts expect that SYSCO Co. will post 3.4 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 25th. Shareholders of record on Friday, January 4th will be given a $0.39 dividend. The ex-dividend date of this dividend is Thursday, January 3rd. This represents a $1.56 dividend on an annualized basis and a yield of 2.39%. This is a positive change from SYSCO’s previous quarterly dividend of $0.36. SYSCO’s dividend payout ratio (DPR) is currently 45.86%.
A number of research analysts recently issued reports on SYY shares. Buckingham Research started coverage on shares of SYSCO in a research note on Monday, October 22nd. They issued a “buy” rating and a $82.00 price objective on the stock. Argus lifted their price objective on shares of SYSCO from $67.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, August 16th. ValuEngine raised shares of SYSCO from a “hold” rating to a “buy” rating in a research note on Monday, August 13th. Loop Capital lifted their price objective on shares of SYSCO to $80.00 and gave the company a “buy” rating in a research note on Tuesday, August 14th. Finally, BMO Capital Markets decreased their price objective on shares of SYSCO from $81.00 to $79.00 and set a “buy” rating on the stock in a research note on Tuesday, November 6th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $73.54.
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SYSCO Company Profile
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. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.
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