Garrett Wealth Advisory Group LLC acquired a new stake in shares of SYSCO Co. (NYSE:SYY) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 465 shares of the company’s stock, valued at approximately $37,000.
A number of other hedge funds have also recently bought and sold shares of SYY. Krane Funds Advisors LLC bought a new position in SYSCO during the second quarter valued at $25,000. SRS Capital Advisors Inc. bought a new position in SYSCO during the second quarter valued at $28,000. Coastal Capital Group Inc. bought a new position in SYSCO during the second quarter valued at $29,000. Neo Ivy Capital Management bought a new position in SYSCO during the second quarter valued at $32,000. Finally, FinTrust Capital Advisors LLC increased its position in SYSCO by 55.2% during the second quarter. FinTrust Capital Advisors LLC now owns 523 shares of the company’s stock valued at $37,000 after acquiring an additional 186 shares during the last quarter. Institutional investors and hedge funds own 78.40% of the company’s stock.
NYSE SYY opened at $79.14 on Friday. The company’s 50-day moving average price is $77.65 and its 200-day moving average price is $72.86. The company has a current ratio of 1.33, a quick ratio of 0.81 and a debt-to-equity ratio of 3.25. The stock has a market cap of $40.56 billion, a PE ratio of 22.29, a PEG ratio of 2.18 and a beta of 0.48. SYSCO Co. has a 12 month low of $59.44 and a 12 month high of $79.74.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 1.97%. The ex-dividend date is Thursday, October 3rd. SYSCO’s payout ratio is 43.94%.
In other SYSCO news, Director Hans-Joachim Koerber sold 10,000 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $73.35, for a total transaction of $733,500.00. Following the transaction, the director now directly owns 52,872 shares in the company, valued at approximately $3,878,161.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John M. Cassaday sold 20,203 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $77.23, for a total transaction of $1,560,277.69. Following the transaction, the director now owns 52,785 shares in the company, valued at $4,076,585.55. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 117,893 shares of company stock worth $9,180,771. 5.24% of the stock is owned by company insiders.
A number of research analysts have recently commented on SYY shares. Wells Fargo & Co restated a “buy” rating on shares of SYSCO in a report on Monday, August 12th. JPMorgan Chase & Co. upped their price target on shares of SYSCO from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Barclays upped their price target on shares of SYSCO from $70.00 to $71.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 13th. Consumer Edge started coverage on shares of SYSCO in a report on Wednesday, July 17th. They issued an “underweight” rating and a $71.75 price target on the stock. Finally, Credit Suisse Group upped their price target on shares of SYSCO from $76.00 to $79.00 and gave the stock an “outperform” rating in a report on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $74.52.
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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