SG Americas Securities LLC trimmed its holdings in SYSCO Co. (NYSE:SYY) by 16.6% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 555,729 shares of the company’s stock after selling 110,660 shares during the period. SG Americas Securities LLC owned 0.11% of SYSCO worth $37,100,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. Security National Trust Co. grew its position in SYSCO by 6.4% during the first quarter. Security National Trust Co. now owns 2,500 shares of the company’s stock worth $167,000 after buying an additional 150 shares during the period. LVM Capital Management Ltd. MI grew its position in shares of SYSCO by 1.4% in the first quarter. LVM Capital Management Ltd. MI now owns 11,284 shares of the company’s stock valued at $753,000 after purchasing an additional 155 shares during the last quarter. Whittier Trust Co. grew its position in shares of SYSCO by 1.1% in the fourth quarter. Whittier Trust Co. now owns 14,950 shares of the company’s stock valued at $936,000 after purchasing an additional 160 shares during the last quarter. Financial Counselors Inc. grew its position in shares of SYSCO by 1.8% in the fourth quarter. Financial Counselors Inc. now owns 8,904 shares of the company’s stock valued at $558,000 after purchasing an additional 161 shares during the last quarter. Finally, Enterprise Financial Services Corp grew its position in shares of SYSCO by 24.8% in the first quarter. Enterprise Financial Services Corp now owns 845 shares of the company’s stock valued at $56,000 after purchasing an additional 168 shares during the last quarter. 80.61% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently commented on SYY. Zacks Investment Research upgraded shares of SYSCO from a “sell” rating to a “hold” rating in a research report on Monday, January 28th. Morgan Stanley increased their price target on shares of SYSCO from $69.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 7th. Loop Capital raised their target price on shares of SYSCO to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Pivotal Research restated a “sell” rating and set a $58.00 target price (up previously from $54.00) on shares of SYSCO in a research report on Tuesday, May 7th. Finally, Buckingham Research raised their target price on shares of SYSCO from $82.00 to $84.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. SYSCO has a consensus rating of “Hold” and an average target price of $74.46.
Shares of SYY stock traded down $0.08 during mid-day trading on Wednesday, reaching $75.41. The company’s stock had a trading volume of 1,525,800 shares, compared to its average volume of 2,859,137. SYSCO Co. has a 12-month low of $59.44 and a 12-month high of $75.98. The company has a current ratio of 1.30, a quick ratio of 0.79 and a debt-to-equity ratio of 3.44. The company has a market cap of $38.83 billion, a PE ratio of 24.02, a P/E/G ratio of 2.15 and a beta of 0.55.
SYSCO (NYSE:SYY) last issued its earnings results on Monday, May 6th. The company reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.09. SYSCO had a net margin of 2.65% and a return on equity of 73.66%. The business had revenue of $14.66 billion for the quarter, compared to the consensus estimate of $14.78 billion. During the same quarter last year, the firm posted $0.67 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities research analysts expect that SYSCO Co. will post 3.52 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 5th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date was Thursday, April 4th. SYSCO’s payout ratio is 49.68%.
In related news, Director Trian Fund Management, L.P. sold 707,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $66.30, for a total transaction of $46,874,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 7.88% of the stock is currently owned by company insiders.
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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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