Monarch Capital Management Inc. decreased its position in SYSCO Co. (NYSE:SYY) by 0.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 75,896 shares of the company’s stock after selling 270 shares during the quarter. SYSCO accounts for approximately 1.9% of Monarch Capital Management Inc.’s holdings, making the stock its 20th biggest holding. Monarch Capital Management Inc.’s holdings in SYSCO were worth $5,367,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Advisors Preferred LLC acquired a new position in SYSCO during the 1st quarter worth about $26,000. Coastal Capital Group Inc. acquired a new position in SYSCO during the 2nd quarter worth about $29,000. Lenox Wealth Management Inc. lifted its position in SYSCO by 163.7% during the 1st quarter. Lenox Wealth Management Inc. now owns 480 shares of the company’s stock worth $32,000 after buying an additional 298 shares in the last quarter. Cornerstone Advisors Inc. lifted its position in SYSCO by 40.4% during the 1st quarter. Cornerstone Advisors Inc. now owns 577 shares of the company’s stock worth $39,000 after buying an additional 166 shares in the last quarter. Finally, WP Advisors LLC acquired a new position in SYSCO during the 1st quarter worth about $39,000. 77.71% of the stock is currently owned by institutional investors and hedge funds.
SYY has been the topic of several research reports. Consumer Edge initiated coverage on shares of SYSCO in a research report on Wednesday, July 17th. They set an “underweight” rating and a $71.75 price target on the stock. ValuEngine upgraded shares of SYSCO from a “hold” rating to a “buy” rating in a research report on Wednesday, May 29th. Buckingham Research upped their target price on shares of SYSCO from $82.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Loop Capital upped their target price on shares of SYSCO to $80.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Finally, Pivotal Research restated a “sell” rating and set a $58.00 target price (up from $54.00) on shares of SYSCO in a research report on Tuesday, May 7th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $73.63.
SYSCO stock traded up $2.44 during trading hours on Monday, reaching $72.43. 2,927,285 shares of the company’s stock traded hands, compared to its average volume of 2,794,743. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.30 and a quick ratio of 0.79. SYSCO Co. has a fifty-two week low of $59.44 and a fifty-two week high of $75.98. The company has a market cap of $36.30 billion, a price-to-earnings ratio of 23.07, a price-to-earnings-growth ratio of 1.88 and a beta of 0.52. The business’s 50 day moving average price is $70.80.
SYSCO (NYSE:SYY) last released its quarterly earnings data on Monday, August 12th. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.07 by $0.03. The company had revenue of $15.47 billion during the quarter, compared to the consensus estimate of $15.65 billion. SYSCO had a return on equity of 73.66% and a net margin of 2.65%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.94 EPS. On average, analysts forecast that SYSCO Co. will post 3.5 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Thursday, October 3rd. SYSCO’s payout ratio is presently 49.68%.
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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