Sawyer & Company Inc trimmed its position in Sysco Co. (NYSE:SYY – Get Rating) by 0.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 78,779 shares of the company’s stock after selling 335 shares during the quarter. Sysco accounts for approximately 3.0% of Sawyer & Company Inc’s holdings, making the stock its 5th biggest holding. Sawyer & Company Inc’s holdings in Sysco were worth $6,023,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in SYY. Eagle Bay Advisors LLC purchased a new position in Sysco during the 2nd quarter valued at $81,000. Tower Research Capital LLC TRC increased its position in Sysco by 1.9% during the 3rd quarter. Tower Research Capital LLC TRC now owns 38,509 shares of the company’s stock valued at $2,723,000 after purchasing an additional 725 shares during the period. Parsons Capital Management Inc. RI boosted its holdings in shares of Sysco by 1.5% during the 3rd quarter. Parsons Capital Management Inc. RI now owns 25,195 shares of the company’s stock valued at $1,782,000 after buying an additional 382 shares in the last quarter. King Luther Capital Management Corp boosted its holdings in shares of Sysco by 22.5% during the 2nd quarter. King Luther Capital Management Corp now owns 51,665 shares of the company’s stock valued at $4,377,000 after buying an additional 9,474 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in shares of Sysco by 55.3% during the 3rd quarter. Hsbc Holdings PLC now owns 629,582 shares of the company’s stock valued at $44,951,000 after buying an additional 224,253 shares in the last quarter. 81.18% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
SYY has been the topic of a number of research reports. BMO Capital Markets dropped their target price on shares of Sysco from $96.00 to $90.00 and set an “outperform” rating on the stock in a report on Wednesday, February 1st. Bank of America initiated coverage on shares of Sysco in a report on Thursday, March 9th. They set a “buy” rating and a $90.00 target price on the stock. Credit Suisse Group dropped their target price on shares of Sysco from $100.00 to $94.00 and set an “outperform” rating on the stock in a report on Wednesday, February 1st. StockNews.com upgraded shares of Sysco from a “buy” rating to a “strong-buy” rating in a report on Friday, March 10th. Finally, Barclays dropped their price target on shares of Sysco from $92.00 to $87.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 1st. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $89.67.
Sysco Price Performance
Sysco (NYSE:SYY – Get Rating) last posted its earnings results on Tuesday, January 31st. The company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by ($0.04). The company had revenue of $18.59 billion for the quarter, compared to the consensus estimate of $18.59 billion. Sysco had a net margin of 1.93% and a return on equity of 140.94%. Sysco’s revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.57 EPS. As a group, analysts predict that Sysco Co. will post 4.04 EPS for the current year.
Sysco Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Thursday, April 6th will be given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Wednesday, April 5th. Sysco’s payout ratio is currently 70.76%.
Sysco Corp. engages in selling, marketing, and distribution of food products to restaurants, healthcare and educational facilities, and lodging establishments. It operates through the following segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other. The U.S. Foodservice Operations consists of U.S.
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