Fort L.P. purchased a new position in shares of SYSCO Co. (NYSE:SYY) in the second quarter, according to its most recent filing with the SEC. The firm purchased 1,806 shares of the company’s stock, valued at approximately $123,000.
A number of other institutional investors have also modified their holdings of SYY. Blue Chip Partners Inc. acquired a new stake in shares of SYSCO in the 2nd quarter valued at about $104,000. Quad Cities Investment Group LLC acquired a new stake in shares of SYSCO in the 2nd quarter valued at about $111,000. Private Capital Group LLC grew its stake in shares of SYSCO by 970.2% in the 1st quarter. Private Capital Group LLC now owns 2,044 shares of the company’s stock valued at $123,000 after buying an additional 1,853 shares during the period. Centaurus Financial Inc. acquired a new stake in shares of SYSCO in the 1st quarter valued at about $129,000. Finally, Centerpoint Advisors LLC acquired a new stake in shares of SYSCO in the 1st quarter valued at about $149,000. Hedge funds and other institutional investors own 80.00% of the company’s stock.
In other SYSCO news, Director Joshua D. Frank sold 802,924 shares of SYSCO stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of $66.15, for a total transaction of $53,113,422.60. Following the transaction, the director now owns 4,657 shares of the company’s stock, valued at approximately $308,060.55. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Trian Fund Management, L.P. sold 2,790,710 shares of SYSCO stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $75.03, for a total transaction of $209,386,971.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,725,798 shares of company stock worth $477,066,863. Insiders own 9.60% of the company’s stock.
SYY stock opened at $74.70 on Friday. The stock has a market cap of $38.97 billion, a price-to-earnings ratio of 23.79, a P/E/G ratio of 2.03 and a beta of 0.54. The company has a debt-to-equity ratio of 3.01, a current ratio of 1.21 and a quick ratio of 0.74. SYSCO Co. has a 52-week low of $52.18 and a 52-week high of $75.98.
SYSCO (NYSE:SYY) last released its quarterly earnings results on Monday, August 13th. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.01. The business had revenue of $15.32 billion during the quarter, compared to the consensus estimate of $15.30 billion. SYSCO had a return on equity of 68.15% and a net margin of 2.44%. The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 EPS. analysts forecast that SYSCO Co. will post 3.49 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 26th. Shareholders of record on Friday, October 5th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $1.44 annualized dividend and a dividend yield of 1.93%. SYSCO’s dividend payout ratio is currently 45.86%.
SYY has been the subject of a number of analyst reports. Pivotal Research lifted their price target on SYSCO from $58.00 to $62.00 and gave the company a “sell” rating in a research note on Saturday, August 18th. Loop Capital lifted their price target on SYSCO to $80.00 and gave the company a “buy” rating in a research note on Tuesday, August 14th. Argus lifted their price target on SYSCO from $67.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, August 16th. BMO Capital Markets lifted their price target on SYSCO from $74.00 to $81.00 and gave the company an “outperform” rating in a research note on Tuesday, August 14th. Finally, Morgan Stanley lifted their price target on SYSCO from $67.00 to $71.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $72.42.
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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