Calamos Advisors LLC lessened its stake in SYSCO Co. (NYSE:SYY) by 1.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 132,921 shares of the company’s stock after selling 2,318 shares during the period. Calamos Advisors LLC’s holdings in SYSCO were worth $11,370,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of SYY. Neo Ivy Capital Management bought a new position in SYSCO in the 2nd quarter worth approximately $32,000. Usca Ria LLC bought a new position in SYSCO in the 3rd quarter worth approximately $35,000. Garrett Wealth Advisory Group LLC bought a new position in SYSCO in the 3rd quarter worth approximately $37,000. NewSquare Capital LLC raised its position in SYSCO by 1,680.0% in the 4th quarter. NewSquare Capital LLC now owns 445 shares of the company’s stock worth $38,000 after purchasing an additional 420 shares during the last quarter. Finally, Intercontinental Wealth Advisors LLC raised its position in SYSCO by 136.8% in 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 during the last quarter. Hedge funds and other institutional investors own 78.66% of the company’s stock.
Several research analysts recently weighed in on SYY shares. Piper Jaffray Companies started coverage on shares of SYSCO in a research report on Thursday, December 12th. They issued an “overweight” rating and a $94.00 price objective for the company. Piper Sandler restated a “neutral” rating and issued a $90.00 price objective (down previously from $94.00) on shares of SYSCO in a research report on Tuesday. ValuEngine cut shares of SYSCO from a “hold” rating to a “sell” rating in a research report on Wednesday. Loop Capital upped their target price on shares of SYSCO to $86.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, BMO Capital Markets upped their target price on shares of SYSCO to $88.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $79.13.
Shares of SYSCO stock opened at $82.65 on Thursday. The firm has a fifty day moving average of $83.76 and a two-hundred day moving average of $77.69. The stock has a market capitalization of $43.33 billion, a price-to-earnings ratio of 23.28, a PEG ratio of 2.38 and a beta of 0.48. SYSCO Co. has a 52 week low of $61.33 and a 52 week high of $85.98. The company has a debt-to-equity ratio of 3.74, a quick ratio of 0.84 and a current ratio of 1.39.
SYSCO (NYSE:SYY) last issued its earnings results on Monday, November 4th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.97 by $0.01. The company had revenue of $15.30 billion during the quarter, compared to analysts’ expectations of $15.53 billion. SYSCO had a net margin of 2.82% and a return on equity of 79.60%. The business’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 EPS. As a group, research analysts forecast that SYSCO Co. will post 3.81 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be issued a $0.45 dividend. This is a positive change from SYSCO’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $1.80 annualized dividend and a dividend yield of 2.18%. SYSCO’s payout ratio is 50.70%.
In other news, SVP Brian R. Todd sold 12,520 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $85.06, for a total value of $1,064,951.20. Following the completion of the transaction, the senior vice president now owns 28,145 shares of the company’s stock, valued at approximately $2,394,013.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas Bene sold 39,384 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 132,929 shares of the company’s stock, valued at approximately $10,634,320. The disclosure for this sale can be found here. Insiders sold a total of 227,412 shares of company stock valued at $18,867,462 in the last three months. 5.24% of the stock is owned by company insiders.
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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