Alpha Quant Advisors LLC lessened its stake in shares of SYSCO Co. (NYSE:SYY) by 7.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,084 shares of the company’s stock after selling 1,465 shares during the period. SYSCO accounts for approximately 1.2% of Alpha Quant Advisors LLC’s investment portfolio, making the stock its 27th biggest position. Alpha Quant Advisors LLC’s holdings in SYSCO were worth $1,208,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in SYY. Sontag Advisory LLC purchased a new stake in SYSCO during the 4th quarter valued at about $25,000. Advisors Preferred LLC purchased a new stake in SYSCO during the 1st quarter valued at about $26,000. Focused Wealth Management Inc grew its stake in SYSCO by 244.1% during the 4th quarter. Focused Wealth Management Inc now owns 468 shares of the company’s stock valued at $29,000 after acquiring an additional 332 shares in the last quarter. Athena Capital Advisors LLC purchased a new stake in SYSCO during the 4th quarter valued at about $29,000. Finally, Valley National Advisers Inc. grew its stake in SYSCO by 60.5% during the 4th quarter. Valley National Advisers Inc. now owns 472 shares of the company’s stock valued at $30,000 after acquiring an additional 178 shares in the last quarter. Hedge funds and other institutional investors own 80.61% of the company’s stock.
SYSCO stock opened at $75.49 on Wednesday. SYSCO Co. has a 1-year low of $59.44 and a 1-year high of $75.98. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.30 and a quick ratio of 0.79. The company has a market capitalization of $38.51 billion, a PE ratio of 24.04, a PEG ratio of 2.15 and a beta of 0.55.
SYSCO (NYSE:SYY) last posted its quarterly earnings results on Monday, May 6th. The company reported $0.79 earnings per share for the quarter, beating the 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 during the quarter, compared to analysts’ expectations of $14.78 billion. During the same quarter in the prior year, the company posted $0.67 EPS. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities analysts forecast that SYSCO Co. will post 3.52 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 5th were issued a $0.39 dividend. The ex-dividend date was Thursday, April 4th. This represents a $1.56 annualized dividend and a dividend yield of 2.07%. SYSCO’s dividend payout ratio is currently 49.68%.
In other news, Director Trian Fund Management, L.P. sold 707,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $66.30, for a total value of $46,874,100.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 7.88% of the company’s stock.
Several brokerages recently issued reports on SYY. Zacks Investment Research cut shares of SYSCO from a “buy” rating to a “hold” rating in a research note on Friday, May 17th. Pivotal Research reissued a “sell” rating and issued a $58.00 price target (up previously from $54.00) on shares of SYSCO in a research note on Tuesday, May 7th. Loop Capital increased their price target on shares of SYSCO to $80.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Buckingham Research increased their price target on shares of SYSCO from $82.00 to $84.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Finally, 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 note on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $74.46.
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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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