Scott & Selber Inc. boosted its holdings in SYSCO Co. (NYSE:SYY) by 120.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 32,077 shares of the company’s stock after buying an additional 17,505 shares during the period. Scott & Selber Inc.’s holdings in SYSCO were worth $2,268,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. 6 Meridian grew its position in SYSCO by 1.8% in the second quarter. 6 Meridian now owns 7,760 shares of the company’s stock valued at $549,000 after acquiring an additional 140 shares in the last quarter. Security National Trust Co. grew its position in SYSCO by 6.4% in the first quarter. Security National Trust Co. now owns 2,500 shares of the company’s stock valued at $167,000 after acquiring an additional 150 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. grew its position in SYSCO by 3.4% in the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 4,623 shares of the company’s stock valued at $327,000 after acquiring an additional 150 shares in the last quarter. Cornerstone Advisors Inc. grew its position in SYSCO by 27.0% in the second quarter. Cornerstone Advisors Inc. now owns 733 shares of the company’s stock valued at $52,000 after acquiring an additional 156 shares in the last quarter. Finally, Cable Hill Partners LLC grew its position in SYSCO by 11.8% in the first quarter. Cable Hill Partners LLC now owns 1,520 shares of the company’s stock valued at $101,000 after acquiring an additional 161 shares in the last quarter. Hedge funds and other institutional investors own 78.30% of the company’s stock.
A number of analysts have recently weighed in on SYY shares. Loop Capital raised their price target on shares of SYSCO to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Zacks Investment Research downgraded shares of SYSCO from a “buy” rating to a “hold” rating and set a $75.00 price target for the company. in a research report on Tuesday, June 11th. Credit Suisse Group raised their price target on shares of SYSCO from $76.00 to $79.00 and gave the stock an “outperform” rating in a research report on Tuesday. Morgan Stanley raised their price target on shares of SYSCO from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 7th. Finally, Consumer Edge started coverage on shares of SYSCO in a research report on Wednesday, July 17th. They set an “underweight” rating and a $71.75 price target for the company. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $74.05.
SYSCO stock traded up $0.90 during mid-day trading on Tuesday, reaching $73.09. The company’s stock had a trading volume of 109,317 shares, compared to its average volume of 2,922,094. The company has a market capitalization of $35.97 billion, a price-to-earnings ratio of 23.29, a price-to-earnings-growth ratio of 1.87 and a beta of 0.52. The firm’s 50 day moving average is $70.81. The company has a current ratio of 1.30, a quick ratio of 0.79 and a debt-to-equity ratio of 3.44. SYSCO Co. has a twelve month low of $59.44 and a twelve month high of $75.98.
SYSCO (NYSE:SYY) last released its quarterly earnings data on Monday, August 12th. The company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.03. The firm had revenue of $15.47 billion during the quarter, compared to the consensus estimate of $15.65 billion. SYSCO had a net margin of 2.65% and a return on equity of 73.66%. The firm’s revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.94 earnings per share. As a group, research analysts expect that SYSCO Co. will post 3.5 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Thursday, October 3rd. SYSCO’s dividend 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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