Page Arthur B lowered its stake in shares of SYSCO Co. (NYSE:SYY) by 3.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,775 shares of the company’s stock after selling 570 shares during the period. Page Arthur B’s holdings in SYSCO were worth $1,264,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Neo Ivy Capital Management acquired a new stake in shares of SYSCO in the 2nd quarter valued at approximately $32,000. Usca Ria LLC bought a new position in SYSCO during the 3rd quarter worth approximately $35,000. Garrett Wealth Advisory Group LLC acquired a new position in SYSCO during the third quarter valued at approximately $37,000. NewSquare Capital LLC grew its holdings in SYSCO by 1,680.0% during the fourth quarter. NewSquare Capital LLC now owns 445 shares of the company’s stock valued at $38,000 after purchasing an additional 420 shares during the period. Finally, Intercontinental Wealth Advisors LLC increased its stake in SYSCO by 136.8% in the third quarter. Intercontinental Wealth Advisors LLC now owns 540 shares of the company’s stock valued at $43,000 after purchasing an additional 312 shares in the last quarter. Hedge funds and other institutional investors own 78.66% of the company’s stock.
SYY has been the topic of several analyst reports. Piper Sandler reiterated a “neutral” rating and issued a $90.00 target price (down from $94.00) on shares of SYSCO in a report on Tuesday. BMO Capital Markets boosted their price target on shares of SYSCO to $88.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Bank of America upped their price objective on shares of SYSCO from $76.00 to $80.00 and gave the company a “neutral” rating in a research report on Wednesday, October 2nd. Piper Jaffray Companies initiated coverage on SYSCO in a research note on Thursday, December 12th. They set an “overweight” rating and a $94.00 price objective on the stock. Finally, Loop Capital lifted their target price on SYSCO to $86.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. SYSCO has a consensus rating of “Hold” and an average price target of $79.13.
Shares of SYSCO stock traded up $0.25 on Wednesday, hitting $82.65. The company had a trading volume of 2,804,712 shares, compared to its average volume of 2,294,490. The stock has a 50-day moving average of $83.71 and a 200-day moving average of $77.63. The company has a debt-to-equity ratio of 3.74, a current ratio of 1.39 and a quick ratio of 0.84. SYSCO Co. has a twelve month low of $61.33 and a twelve month high of $85.98. The firm has a market capitalization of $43.33 billion, a P/E ratio of 23.28, a P/E/G ratio of 2.38 and a beta of 0.48.
SYSCO (NYSE:SYY) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.97 by $0.01. The business had revenue of $15.30 billion for the quarter, compared to analysts’ expectations of $15.53 billion. SYSCO had a net margin of 2.82% and a return on equity of 79.60%. The firm’s revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.91 EPS. Equities analysts predict that SYSCO Co. will post 3.81 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.18%. This is a positive change from SYSCO’s previous quarterly dividend of $0.39. The ex-dividend date is Thursday, January 2nd. SYSCO’s payout ratio is 50.70%.
SYSCO Company Profile
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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