Calamos Advisors LLC reduced its stake in SYSCO Co. (NYSE:SYY) by 1.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 132,921 shares of the company’s stock after selling 2,318 shares during the quarter. Calamos Advisors LLC’s holdings in SYSCO were worth $11,370,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in SYY. Neo Ivy Capital Management acquired a new position in shares of SYSCO during the 2nd quarter worth approximately $32,000. Usca Ria LLC acquired a new position in shares of SYSCO during the 3rd quarter worth approximately $35,000. Garrett Wealth Advisory Group LLC acquired a new position in shares of SYSCO during the 3rd quarter worth approximately $37,000. NewSquare Capital LLC grew its position in shares of SYSCO by 1,680.0% during the 4th quarter. NewSquare Capital LLC now owns 445 shares of the company’s stock worth $38,000 after purchasing an additional 420 shares in the last quarter. Finally, Intercontinental Wealth Advisors LLC grew its position in shares of SYSCO by 136.8% during the 3rd quarter. Intercontinental Wealth Advisors LLC now owns 540 shares of the company’s stock worth $43,000 after purchasing an additional 312 shares in the last quarter. Hedge funds and other institutional investors own 78.66% of the company’s stock.
NYSE SYY opened at $82.65 on Thursday. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 3.74. The firm has a market capitalization of $43.33 billion, a price-to-earnings ratio of 23.28, a P/E/G ratio of 2.38 and a beta of 0.48. The firm’s 50 day simple moving average is $83.76 and its 200 day simple moving average is $77.69. SYSCO Co. has a 1 year low of $61.33 and a 1 year high of $85.98.
SYSCO (NYSE:SYY) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.01. The business had revenue of $15.30 billion for the quarter, compared to analyst estimates of $15.53 billion. SYSCO had a net margin of 2.82% and a return on equity of 79.60%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the business posted $0.91 EPS. On average, equities research analysts forecast that SYSCO Co. will post 3.81 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be given a dividend of $0.45 per share. This is a positive change from SYSCO’s previous quarterly dividend of $0.39. The ex-dividend date is Thursday, January 2nd. This represents a $1.80 annualized dividend and a dividend yield of 2.18%. SYSCO’s dividend payout ratio (DPR) is currently 50.70%.
A number of research analysts have issued reports on SYY shares. ValuEngine lowered shares of SYSCO from a “hold” rating to a “sell” rating in a research report on Wednesday. Loop Capital increased their target price on shares of SYSCO to $86.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. BMO Capital Markets increased their target price on shares of SYSCO to $88.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Piper Sandler restated a “neutral” rating and set a $90.00 target price (down previously from $94.00) on shares of SYSCO in a research report on Tuesday. Finally, Bank of America increased their target price on shares of SYSCO from $76.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Three analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $79.13.
In related news, CEO Thomas Bene sold 39,384 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $80.00, for a total transaction of $3,150,720.00. Following the sale, the chief executive officer now owns 132,929 shares in the company, valued at approximately $10,634,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Brian R. Todd sold 12,520 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $85.06, for a total transaction of $1,064,951.20. Following the sale, the senior vice president now owns 28,145 shares in the company, valued at approximately $2,394,013.70. The disclosure for this sale can be found here. Insiders have sold a total of 227,412 shares of company stock worth $18,867,462 in the last quarter. 5.24% of the stock is currently owned by company 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.
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