Vigilant Capital Management LLC Has $1.64 Million Stake in SYSCO Co. (NYSE:SYY)

Vigilant Capital Management LLC boosted its position in shares of SYSCO Co. (NYSE:SYY) by 0.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,135 shares of the company’s stock after purchasing an additional 160 shares during the period. Vigilant Capital Management LLC’s holdings in SYSCO were worth $1,637,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nuveen Asset Management LLC lifted its holdings in shares of SYSCO by 1,804.9% in the second quarter. Nuveen Asset Management LLC now owns 2,587,054 shares of the company’s stock valued at $182,956,000 after purchasing an additional 2,451,242 shares in the last quarter. State Street Corp raised its position in SYSCO by 6.3% during the third quarter. State Street Corp now owns 26,747,724 shares of the company’s stock valued at $2,123,769,000 after buying an additional 1,590,356 shares during the period. BlackRock Inc. lifted its stake in SYSCO by 3.3% in the 2nd quarter. BlackRock Inc. now owns 31,130,419 shares of the company’s stock worth $2,201,542,000 after acquiring an additional 1,004,706 shares in the last quarter. Unigestion Holding SA lifted its stake in SYSCO by 197.1% in the 3rd quarter. Unigestion Holding SA now owns 1,066,357 shares of the company’s stock worth $84,669,000 after acquiring an additional 707,466 shares in the last quarter. Finally, California Public Employees Retirement System lifted its stake in SYSCO by 23.8% in the 2nd quarter. California Public Employees Retirement System now owns 3,614,248 shares of the company’s stock worth $255,600,000 after acquiring an additional 695,556 shares in the last quarter. Hedge funds and other institutional investors own 78.66% of the company’s stock.

Several equities analysts have weighed in on the company. Bank of America lifted their target price on SYSCO from $76.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Piper Sandler reissued a “neutral” rating and issued a $90.00 price target (down from $94.00) on shares of SYSCO in a research report on Tuesday. Piper Jaffray Companies started coverage on shares of SYSCO in a research report on Thursday, December 12th. They issued an “overweight” rating and a $94.00 price target for the company. BMO Capital Markets raised their price target on shares of SYSCO to $88.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Finally, ValuEngine downgraded shares of SYSCO from a “hold” rating to a “sell” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, five have assigned 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 $79.13.

In related news, CEO Thomas Bene sold 39,384 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $80.00, for a total value of $3,150,720.00. Following the completion of the sale, the chief executive officer now directly owns 132,929 shares in the company, valued at $10,634,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert S. Charlton sold 28,948 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $80.43, for a total transaction of $2,328,287.64. Following the transaction, the executive vice president now directly owns 46,087 shares in the company, valued at $3,706,777.41. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 227,412 shares of company stock worth $18,867,462. Insiders own 5.24% of the company’s stock.

SYY stock traded up $0.25 during mid-day trading on Friday, hitting $82.91. The stock had a trading volume of 112,715 shares, compared to its average volume of 2,306,176. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 3.74. SYSCO Co. has a 1-year low of $61.49 and a 1-year high of $85.98. The company has a fifty day moving average of $83.79 and a 200 day moving average of $77.75. The stock has a market capitalization of $42.35 billion, a price-to-earnings ratio of 23.33, a PEG ratio of 2.20 and a beta of 0.48.

SYSCO (NYSE:SYY) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.01. The company had revenue of $15.30 billion during the quarter, compared to the consensus estimate of $15.53 billion. SYSCO had a return on equity of 79.60% and a net margin of 2.82%. The business’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the business earned $0.91 EPS. As a group, sell-side analysts expect that SYSCO Co. will post 3.8 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be issued a $0.45 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $1.80 dividend on an annualized basis and a yield of 2.17%. This is an increase from SYSCO’s previous quarterly dividend of $0.39. SYSCO’s dividend payout ratio is currently 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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Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

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