Headinvest LLC lessened its stake in shares of SYSCO Co. (NYSE:SYY) by 12.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,166 shares of the company’s stock after selling 574 shares during the period. Headinvest LLC’s holdings in SYSCO were worth $228,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its holdings in SYSCO by 57.7% in the 1st quarter. Advisors Asset Management Inc. now owns 32,060 shares of the company’s stock worth $1,463,000 after acquiring an additional 11,734 shares during the period. Financial Counselors Inc. lifted its position in shares of SYSCO by 79.7% during the 2nd quarter. Financial Counselors Inc. now owns 25,793 shares of the company’s stock worth $1,410,000 after purchasing an additional 11,440 shares during the last quarter. Tobam bought a new stake in SYSCO during the 1st quarter valued at approximately $1,719,000. Squarepoint Ops LLC acquired a new stake in SYSCO in the 1st quarter valued at approximately $1,655,000. Finally, Clarius Group LLC bought a new position in SYSCO in the 2nd quarter worth approximately $217,000. 79.58% of the stock is currently owned by institutional investors.
Shares of SYSCO stock traded up $0.17 during mid-day trading on Tuesday, reaching $60.31. 51,403 shares of the stock were exchanged, compared to its average volume of 3,449,868. SYSCO Co. has a fifty-two week low of $26.00 and a fifty-two week high of $85.98. The company has a market cap of $31.47 billion, a price-to-earnings ratio of 158.27, a price-to-earnings-growth ratio of 3.02 and a beta of 1.09. The firm has a 50-day simple moving average of $56.53 and a 200 day simple moving average of $55.38. The company has a current ratio of 1.84, a quick ratio of 1.38 and a debt-to-equity ratio of 11.14.
SYSCO (NYSE:SYY) last announced its earnings results on Tuesday, August 11th. The company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.01. SYSCO had a return on equity of 50.53% and a net margin of 0.41%. The business had revenue of $8.87 billion for the quarter, compared to the consensus estimate of $10.12 billion. During the same period in the previous year, the business earned $1.10 EPS. SYSCO’s revenue was down 42.7% compared to the same quarter last year. On average, research analysts predict that SYSCO Co. will post 1.86 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 23rd. Shareholders of record on Friday, October 2nd will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Thursday, October 1st. SYSCO’s dividend payout ratio is presently 89.55%.
In other news, EVP Greg D. Bertrand sold 1,134 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $57.95, for a total transaction of $65,715.30. Following the sale, the executive vice president now directly owns 38,403 shares of the company’s stock, valued at $2,225,453.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.24% of the stock is currently owned by corporate insiders.
Several equities research analysts have recently issued reports on SYY shares. Credit Suisse Group assumed coverage on shares of SYSCO in a research note on Wednesday, August 5th. They issued a “buy” rating and a $65.00 price objective on the stock. Jefferies Financial Group decreased their price target on shares of SYSCO from $66.00 to $65.00 and set a “buy” rating on the stock in a research report on Wednesday, May 6th. Piper Sandler reaffirmed a “buy” rating and set a $64.00 price objective on shares of SYSCO in a research report on Wednesday, July 1st. BMO Capital Markets lifted their target price on SYSCO from $51.00 to $60.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 12th. Finally, JPMorgan Chase & Co. upped their price target on SYSCO from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Wednesday, June 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $70.30.
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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