LPL Financial LLC lessened its stake in shares of SYSCO Co. (NYSE:SYY) by 3.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 133,465 shares of the company’s stock after selling 5,125 shares during the period. LPL Financial LLC’s holdings in SYSCO were worth $8,003,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Centaurus Financial Inc. bought a new position in SYSCO during the 1st quarter worth $129,000. Bedel Financial Consulting Inc. bought a new position in SYSCO during the 1st quarter worth $145,000. Centerpoint Advisors LLC bought a new position in SYSCO during the 1st quarter worth $149,000. Johnson Financial Group Inc. increased its stake in SYSCO by 77.2% during the 1st quarter. Johnson Financial Group Inc. now owns 3,030 shares of the company’s stock worth $182,000 after acquiring an additional 1,320 shares during the period. Finally, Premia Global Advisors LLC bought a new position in shares of SYSCO in the 4th quarter valued at $195,000. Hedge funds and other institutional investors own 79.86% of the company’s stock.
Several equities analysts have recently issued reports on SYY shares. Pivotal Research decreased their price target on SYSCO from $61.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, May 2nd. Zacks Investment Research upgraded SYSCO from a “sell” rating to a “hold” rating in a research note on Wednesday, May 9th. Morgan Stanley reiterated a “hold” rating and issued a $61.00 price target (down previously from $64.00) on shares of SYSCO in a research note on Tuesday, May 8th. Credit Suisse Group set a $68.00 price target on SYSCO and gave the company a “hold” rating in a research note on Saturday, May 5th. Finally, Citigroup lifted their price target on SYSCO from $60.00 to $63.00 and gave the company a “neutral” rating in a research note on Tuesday, March 27th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $66.18.
In related news, Director Trian Fund Management, L.P. sold 2,278,939 shares of the firm’s stock in a transaction on Thursday, June 14th. The stock was sold at an average price of $66.14, for a total transaction of $150,729,025.46. Following the sale, the director now owns 4,657 shares of the company’s stock, valued at approximately $308,013.98. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard G. Tilghman sold 5,000 shares of the firm’s stock in a transaction on Monday, April 16th. The shares were sold at an average price of $60.62, for a total value of $303,100.00. Following the sale, the director now directly owns 85,864 shares in the company, valued at approximately $5,205,075.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,153,196 shares of company stock worth $208,353,443. 9.60% of the stock is currently owned by company insiders.
SYSCO opened at $67.79 on Friday, according to MarketBeat.com. The company has a debt-to-equity ratio of 3.76, a quick ratio of 0.90 and a current ratio of 1.44. SYSCO Co. has a twelve month low of $48.85 and a twelve month high of $68.34. The firm has a market cap of $35.13 billion, a P/E ratio of 27.33, a PEG ratio of 2.17 and a beta of 0.57.
SYSCO (NYSE:SYY) last released its quarterly earnings data on Monday, May 7th. The company reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.04. SYSCO had a return on equity of 64.33% and a net margin of 2.23%. The company had revenue of $14.35 billion for the quarter, compared to the consensus estimate of $14.32 billion. During the same quarter last year, the business posted $0.51 EPS. SYSCO’s revenue for the quarter was up 6.1% on a year-over-year basis. analysts forecast that SYSCO Co. will post 2.98 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 27th. Investors of record on Friday, July 6th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Thursday, July 5th. SYSCO’s dividend payout ratio (DPR) is 58.06%.
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, Bahamas, Mexico, Costa Rica, Panama, the United Kingdom, France, Sweden, Ireland, Belgium, Spain, and Luxembourg.
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