GWM Advisors LLC lessened its holdings in SYSCO Co. (NYSE:SYY) by 80.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,673 shares of the company’s stock after selling 195,326 shares during the period. GWM Advisors LLC’s holdings in SYSCO were worth $2,660,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. TRUE Private Wealth Advisors grew its position in SYSCO by 9.9% during the 2nd quarter. TRUE Private Wealth Advisors now owns 2,230 shares of the company’s stock worth $121,000 after acquiring an additional 200 shares during the last quarter. S.A. Mason LLC grew its position in shares of SYSCO by 14.6% in the 2nd quarter. S.A. Mason LLC now owns 1,571 shares of the company’s stock valued at $86,000 after buying an additional 200 shares during the last quarter. Cornell Pochily Investment Advisors Inc. grew its position in shares of SYSCO by 3.2% in the 1st quarter. Cornell Pochily Investment Advisors Inc. now owns 6,456 shares of the company’s stock valued at $295,000 after buying an additional 202 shares during the last quarter. Chicago Partners Investment Group LLC grew its position in shares of SYSCO by 3.3% in the 1st quarter. Chicago Partners Investment Group LLC now owns 6,709 shares of the company’s stock valued at $338,000 after buying an additional 213 shares during the last quarter. Finally, Cornerstone Advisors Inc. grew its position in shares of SYSCO by 21.5% in the 1st quarter. Cornerstone Advisors Inc. now owns 1,211 shares of the company’s stock valued at $55,000 after buying an additional 214 shares during the last quarter. 79.35% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:SYY opened at $52.85 on Friday. The business’s 50 day moving average is $54.03 and its 200 day moving average is $58.98. SYSCO Co. has a 12-month low of $26.00 and a 12-month high of $85.98. The stock has a market cap of $27.20 billion, a price-to-earnings ratio of 15.85, a PEG ratio of 2.14 and a beta of 1.12. The company has a quick ratio of 0.93, a current ratio of 1.49 and a debt-to-equity ratio of 5.21.
SYSCO (NYSE:SYY) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.08). The company had revenue of $13.70 billion for the quarter, compared to the consensus estimate of $14.04 billion. SYSCO had a net margin of 2.30% and a return on equity of 73.70%. SYSCO’s revenue was down 6.5% on a year-over-year basis. During the same quarter last year, the business posted $0.79 earnings per share. As a group, equities research analysts expect that SYSCO Co. will post 1.97 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Thursday, July 2nd were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend was Wednesday, July 1st. SYSCO’s dividend payout ratio is 50.70%.
SYY has been the topic of a number of recent analyst reports. Jefferies Financial Group dropped their price objective on SYSCO from $66.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Credit Suisse Group dropped their price objective on SYSCO from $67.00 to $63.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 6th. BMO Capital Markets downgraded SYSCO from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $88.00 to $51.00 in a research note on Thursday, April 23rd. Zacks Investment Research downgraded SYSCO from a “hold” rating to a “sell” rating and set a $62.00 price objective on the stock. in a research note on Saturday, May 2nd. Finally, JPMorgan Chase & Co. upped their price target on SYSCO from $54.00 to $57.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $69.36.
In other news, Director Trian Fund Management, L.P. acquired 703,700 shares of the business’s stock in a transaction on Monday, May 18th. The shares were purchased at an average cost of $51.38 per share, with a total value of $36,156,106.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Joshua D. Frank acquired 600,000 shares of the business’s stock in a transaction on Friday, May 15th. The shares were purchased at an average cost of $47.42 per share, for a total transaction of $28,452,000.00. The disclosure for this purchase can be found here. 5.24% of the stock is owned by insiders.
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.
Read More: Why do analysts give a neutral rating?
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