Jacobs & Co. CA cut its stake in Sysco Co. (NYSE:SYY) by 0.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,180 shares of the company’s stock after selling 493 shares during the period. Jacobs & Co. CA’s holdings in Sysco were worth $8,675,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Core Wealth Advisors Inc. acquired a new stake in Sysco in the fourth quarter worth $26,000. tru Independence LLC acquired a new position in shares of Sysco during the fourth quarter valued at $31,000. SOA Wealth Advisors LLC. acquired a new position in shares of Sysco during the fourth quarter valued at $31,000. RMR Wealth Builders acquired a new position in shares of Sysco during the fourth quarter valued at $34,000. Finally, Childress Capital Advisors LLC acquired a new position in shares of Sysco during the fourth quarter valued at $34,000. 81.02% of the stock is currently owned by hedge funds and other institutional investors.
SYY stock traded down $0.73 during trading hours on Thursday, hitting $79.92. 10,250 shares of the stock traded hands, compared to its average volume of 2,440,203. The stock has a 50-day simple moving average of $79.66 and a 200 day simple moving average of $72.68. Sysco Co. has a one year low of $44.10 and a one year high of $83.97. The company has a market cap of $40.79 billion, a P/E ratio of -1,151.98, a P/E/G ratio of 3.79 and a beta of 1.38. The company has a current ratio of 1.73, a quick ratio of 1.30 and a debt-to-equity ratio of 9.56.
Sysco (NYSE:SYY) last released its quarterly earnings results on Monday, February 1st. The company reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.17). Sysco had a negative net margin of 0.04% and a positive return on equity of 39.64%. The company had revenue of $11.56 billion during the quarter, compared to analyst estimates of $12.30 billion. During the same quarter last year, the business earned $0.85 EPS. The company’s revenue for the quarter was down 23.1% compared to the same quarter last year. Analysts forecast that Sysco Co. will post 1.83 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 23rd. Investors of record on Thursday, April 1st will be given a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, March 31st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.25%. Sysco’s dividend payout ratio (DPR) is 89.55%.
A number of research analysts have recently commented on SYY shares. Wells Fargo & Company raised their price target on Sysco from $80.00 to $89.00 and gave the company an “overweight” rating in a report on Wednesday, January 27th. JPMorgan Chase & Co. raised their price target on Sysco from $75.00 to $80.00 and gave the company a “neutral” rating in a report on Monday, March 15th. Zacks Investment Research lowered Sysco from a “hold” rating to a “sell” rating and set a $77.00 price target on the stock. in a report on Wednesday, February 3rd. Piper Sandler raised their target price on Sysco from $82.00 to $86.00 and gave the company an “overweight” rating in a research note on Thursday, March 18th. Finally, Morgan Stanley raised their target price on Sysco from $69.00 to $76.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. Sysco has an average rating of “Hold” and an average target price of $78.44.
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, the United Kingdom, France, and internationally. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other.
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