Delta Asset Management LLC TN boosted its holdings in SYSCO Co. (NYSE:SYY) by 0.8% in the 3rd quarter, Holdings Channel reports. The firm owned 467,913 shares of the company’s stock after buying an additional 3,883 shares during the quarter. SYSCO comprises approximately 4.6% of Delta Asset Management LLC TN’s investment portfolio, making the stock its 5th biggest holding. Delta Asset Management LLC TN’s holdings in SYSCO were worth $34,275,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Blue Chip Partners Inc. acquired a new stake in SYSCO during the second quarter worth about $104,000. Quad Cities Investment Group LLC acquired a new stake in SYSCO during the second quarter worth about $111,000. Flagship Harbor Advisors LLC acquired a new stake in SYSCO during the second quarter worth about $121,000. Private Capital Group LLC increased its stake in SYSCO by 970.2% during the first quarter. Private Capital Group LLC now owns 2,044 shares of the company’s stock worth $123,000 after acquiring an additional 1,853 shares during the last quarter. Finally, Fort L.P. acquired a new stake in SYSCO during the second quarter worth about $123,000. Hedge funds and other institutional investors own 80.17% of the company’s stock.
Several equities research analysts have commented on the company. ValuEngine upgraded SYSCO from a “hold” rating to a “buy” rating in a research note on Tuesday, June 26th. Jefferies Financial Group set a $68.00 price target on SYSCO and gave the stock a “hold” rating in a research note on Monday, August 13th. Morgan Stanley upped their price target on SYSCO from $67.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 14th. Loop Capital upped their price target on SYSCO to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, August 14th. Finally, Zacks Investment Research upgraded SYSCO from a “sell” rating to a “hold” rating in a research note on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $72.42.
In related news, Director Richard G. Tilghman sold 5,000 shares of the stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $73.82, for a total value of $369,100.00. Following the completion of the transaction, the director now owns 66,137 shares of the company’s stock, valued at $4,882,233.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Brian R. Todd sold 9,147 shares of the stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $73.82, for a total value of $675,231.54. Following the completion of the transaction, the senior vice president now directly owns 11,747 shares of the company’s stock, valued at approximately $867,163.54. The disclosure for this sale can be found here. Insiders sold 3,969,811 shares of company stock valued at $297,370,093 in the last ninety days. Company insiders own 7.88% of the company’s stock.
Shares of NYSE SYY traded down $0.32 on Monday, hitting $70.78. The company had a trading volume of 90,006 shares, compared to its average volume of 2,156,130. SYSCO Co. has a 12-month low of $52.30 and a 12-month high of $75.98. The company has a debt-to-equity ratio of 3.01, a current ratio of 1.21 and a quick ratio of 0.74. The company has a market capitalization of $37.02 billion, a price-to-earnings ratio of 22.54, a PEG ratio of 1.93 and a beta of 0.56.
SYSCO (NYSE:SYY) last issued its earnings results on Monday, August 13th. The company reported $0.94 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.01. SYSCO had a return on equity of 68.15% and a net margin of 2.44%. The company had revenue of $15.32 billion during the quarter, compared to the consensus estimate of $15.30 billion. During the same quarter in the prior year, the business earned $0.72 earnings per share. The company’s revenue was up 6.2% compared to the same quarter last year. Research analysts expect that SYSCO Co. will post 3.49 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 26th. Stockholders of record on Friday, October 5th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Thursday, October 4th. SYSCO’s payout ratio is 45.86%.
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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