Gradient Investments LLC lifted its holdings in SYSCO Co. (NYSE:SYY) by 0.5% in the 3rd quarter, Holdings Channel reports. The firm owned 149,532 shares of the company’s stock after buying an additional 779 shares during the quarter. Gradient Investments LLC’s holdings in SYSCO were worth $11,873,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of SYSCO by 0.3% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 703,653 shares of the company’s stock valued at $49,565,000 after purchasing an additional 1,921 shares during the last quarter. Buckingham Asset Management LLC raised its holdings in SYSCO by 12.2% in the 2nd quarter. Buckingham Asset Management LLC now owns 28,476 shares of the company’s stock worth $2,014,000 after acquiring an additional 3,105 shares during the period. Prudential Financial Inc. raised its holdings in SYSCO by 7.0% in the 2nd quarter. Prudential Financial Inc. now owns 531,978 shares of the company’s stock worth $37,621,000 after acquiring an additional 34,730 shares during the period. Krane Funds Advisors LLC bought a new position in SYSCO in the 2nd quarter worth $25,000. Finally, Brightworth raised its holdings in SYSCO by 3.0% in the 2nd quarter. Brightworth now owns 77,258 shares of the company’s stock worth $5,464,000 after acquiring an additional 2,267 shares during the period. 78.15% of the stock is owned by institutional investors and hedge funds.
In other SYSCO news, SVP Brian R. Todd sold 14,706 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $78.99, for a total value of $1,161,626.94. Following the transaction, the senior vice president now directly owns 30,273 shares in the company, valued at $2,391,264.27. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Hans-Joachim Koerber sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $73.35, for a total transaction of $733,500.00. Following the completion of the transaction, the director now owns 52,872 shares in the company, valued at $3,878,161.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 117,893 shares of company stock worth $9,180,771. 5.24% of the stock is owned by company insiders.
Several brokerages recently commented on SYY. JPMorgan Chase & Co. lifted their target price on shares of SYSCO from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Consumer Edge initiated coverage on shares of SYSCO in a report on Wednesday, July 17th. They set an “underweight” rating and a $71.75 price objective on the stock. Barclays boosted their price objective on shares of SYSCO from $70.00 to $71.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 13th. Credit Suisse Group boosted their price objective on shares of SYSCO from $76.00 to $79.00 and gave the stock an “outperform” rating in a report on Tuesday, August 13th. Finally, Wells Fargo & Co restated a “buy” rating on shares of SYSCO in a report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $74.52.
Shares of NYSE:SYY traded up $0.23 on Thursday, hitting $78.39. 849,552 shares of the company were exchanged, compared to its average volume of 2,922,247. The company’s 50 day moving average price is $76.63 and its two-hundred day moving average price is $72.28. SYSCO Co. has a one year low of $59.44 and a one year high of $79.74. The company has a debt-to-equity ratio of 3.25, a quick ratio of 0.81 and a current ratio of 1.33. The firm has a market capitalization of $40.05 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 2.15 and a beta of 0.48.
SYSCO (NYSE:SYY) last issued its earnings results on Monday, August 12th. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.03. SYSCO had a net margin of 2.79% and a return on equity of 76.80%. The business had revenue of $15.47 billion for the quarter, compared to analyst estimates of $15.65 billion. During the same period in the previous year, the business earned $0.94 EPS. The firm’s revenue was up 1.0% on a year-over-year basis. Research analysts predict that SYSCO Co. will post 3.81 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.56 annualized dividend and a dividend yield of 1.99%. SYSCO’s dividend payout ratio (DPR) is currently 43.94%.
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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