tru Independence LLC Invests $31,000 in Sysco Co. (NYSE:SYY)


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tru Independence LLC acquired a new position in Sysco Co. (NYSE:SYY) in the fourth quarter, HoldingsChannel reports. The firm acquired 416 shares of the company’s stock, valued at approximately $31,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Summitry LLC raised its holdings in Sysco by 1.0% during the 4th quarter. Summitry LLC now owns 50,243 shares of the company’s stock valued at $3,731,000 after buying an additional 512 shares during the last quarter. Nicholas Company Inc. raised its holdings in Sysco by 49.0% during the 4th quarter. Nicholas Company Inc. now owns 93,500 shares of the company’s stock valued at $6,943,000 after buying an additional 30,745 shares during the last quarter. Allen Investment Management LLC raised its holdings in Sysco by 12.1% during the 4th quarter. Allen Investment Management LLC now owns 2,505,105 shares of the company’s stock valued at $186,029,000 after buying an additional 270,101 shares during the last quarter. Meyer Handelman Co. raised its holdings in Sysco by 1.9% during the 4th quarter. Meyer Handelman Co. now owns 574,368 shares of the company’s stock valued at $42,653,000 after buying an additional 10,650 shares during the last quarter. Finally, Waycross Partners LLC bought a new stake in Sysco during the 4th quarter valued at $2,693,000. Hedge funds and other institutional investors own 81.02% of the company’s stock.

NYSE:SYY opened at $80.65 on Thursday. Sysco Co. has a 1-year low of $44.10 and a 1-year high of $83.97. The firm’s 50-day moving average price is $79.66 and its 200-day moving average price is $72.68. The company has a market capitalization of $41.16 billion, a PE ratio of -1,151.98, a P/E/G ratio of 3.79 and a beta of 1.38. The company has a debt-to-equity ratio of 9.56, a current ratio of 1.73 and a quick ratio of 1.30.

Sysco (NYSE:SYY) last posted its earnings results on Monday, February 1st. The company reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.17). The company had revenue of $11.56 billion for the quarter, compared to the consensus estimate of $12.30 billion. Sysco had a negative net margin of 0.04% and a positive return on equity of 39.64%. Sysco’s revenue was down 23.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.85 EPS. Equities analysts anticipate that Sysco Co. will post 1.83 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, April 23rd. Shareholders of record on Thursday, April 1st will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.23%. The ex-dividend date is Wednesday, March 31st. Sysco’s dividend payout ratio is currently 89.55%.

A number of brokerages have issued reports on SYY. Wells Fargo & Company boosted their price objective on shares of Sysco from $80.00 to $89.00 and gave the company an “overweight” rating in a research report on Wednesday, January 27th. Morgan Stanley boosted their price objective on shares of Sysco from $69.00 to $76.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 19th. Zacks Investment Research downgraded shares of Sysco from a “hold” rating to a “sell” rating and set a $77.00 price objective on the stock. in a research report on Wednesday, February 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Sysco from $75.00 to $80.00 and gave the company a “neutral” rating in a research report on Monday, March 15th. Finally, Piper Sandler boosted their price objective on shares of Sysco from $82.00 to $86.00 and gave the company an “overweight” rating in a research report on Thursday, March 18th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. Sysco currently has an average rating of “Hold” and a consensus price target of $78.44.

Sysco 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 in the United States, Canada, the United Kingdom, France, and internationally. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other.

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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