Cabot Wealth Management Inc. boosted its holdings in SYSCO Co. (NYSE:SYY) by 2.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 53,622 shares of the company’s stock after acquiring an additional 1,209 shares during the quarter. Cabot Wealth Management Inc.’s holdings in SYSCO were worth $3,360,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Rehmann Capital Advisory Group raised its holdings in shares of SYSCO by 5.3% in the 4th quarter. Rehmann Capital Advisory Group now owns 5,751 shares of the company’s stock worth $360,000 after purchasing an additional 287 shares during the period. Camelot Portfolios LLC raised its holdings in shares of SYSCO by 4.4% in the 4th quarter. Camelot Portfolios LLC now owns 9,146 shares of the company’s stock worth $573,000 after purchasing an additional 385 shares during the period. Northern Trust Corp raised its holdings in shares of SYSCO by 5.1% in the 4th quarter. Northern Trust Corp now owns 6,428,028 shares of the company’s stock worth $402,780,000 after purchasing an additional 313,212 shares during the period. Blueshift Asset Management LLC bought a new stake in shares of SYSCO in the 4th quarter worth approximately $263,000. Finally, Burney Co. raised its holdings in shares of SYSCO by 1.2% in the 4th quarter. Burney Co. now owns 16,817 shares of the company’s stock worth $1,054,000 after purchasing an additional 200 shares during the period. 80.23% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Russell T. Libby sold 60,156 shares of SYSCO stock in a transaction that occurred on Thursday, January 31st. The shares were sold at an average price of $63.40, for a total value of $3,813,890.40. Following the completion of the transaction, the insider now directly owns 62,597 shares in the company, valued at approximately $3,968,649.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert S. Charlton sold 22,321 shares of SYSCO stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $65.83, for a total transaction of $1,469,391.43. Following the completion of the transaction, the executive vice president now owns 61,460 shares of the company’s stock, valued at $4,045,911.80. The disclosure for this sale can be found here. 7.88% of the stock is currently owned by insiders.
A number of equities research analysts recently commented on SYY shares. ValuEngine raised shares of SYSCO from a “hold” rating to a “buy” rating in a report on Monday, November 12th. Loop Capital set a $75.00 price target on shares of SYSCO and gave the stock a “buy” rating in a report on Friday, December 14th. Credit Suisse Group lowered their price target on shares of SYSCO from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Tuesday, November 6th. BMO Capital Markets lowered their price target on shares of SYSCO from $81.00 to $79.00 and set a “buy” rating on the stock in a report on Tuesday, November 6th. Finally, Morgan Stanley lowered their price target on shares of SYSCO from $71.00 to $69.00 and set a “hold” rating on the stock in a report on Tuesday, November 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $72.92.
SYSCO stock opened at $66.58 on Wednesday. SYSCO Co. has a 1-year low of $58.12 and a 1-year high of $75.98. The company has a market capitalization of $34.57 billion, a P/E ratio of 21.20, a price-to-earnings-growth ratio of 1.92 and a beta of 0.53. The company has a quick ratio of 0.76, a current ratio of 1.25 and a debt-to-equity ratio of 3.70.
SYSCO (NYSE:SYY) last released its quarterly earnings data on Monday, February 4th. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. SYSCO had a net margin of 2.48% and a return on equity of 71.45%. The business had revenue of $14.80 billion during the quarter, compared to analyst estimates of $14.75 billion. During the same period in the previous year, the business earned $0.78 EPS. SYSCO’s revenue was up 2.8% compared to the same quarter last year. Sell-side analysts forecast that SYSCO Co. will post 3.4 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 5th will be paid a $0.39 dividend. The ex-dividend date is Thursday, April 4th. This represents a $1.56 dividend on an annualized basis and a yield of 2.34%. SYSCO’s dividend payout ratio is 49.68%.
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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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