Legacy Advisors LLC acquired a new position in SYSCO Co. (NYSE:SYY) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,000 shares of the company’s stock, valued at approximately $293,000.
Several other institutional investors have also bought and sold shares of SYY. Bank of America Corp DE boosted its position in shares of SYSCO by 64.6% in the 2nd quarter. Bank of America Corp DE now owns 17,662,742 shares of the company’s stock worth $1,206,188,000 after purchasing an additional 6,929,805 shares in the last quarter. Morgan Stanley boosted its position in shares of SYSCO by 83.0% in the 2nd quarter. Morgan Stanley now owns 3,896,733 shares of the company’s stock worth $266,109,000 after purchasing an additional 1,767,298 shares in the last quarter. Unigestion Holding SA acquired a new stake in shares of SYSCO in the 2nd quarter worth $55,998,000. Bank of Montreal Can boosted its position in shares of SYSCO by 14.9% in the 2nd quarter. Bank of Montreal Can now owns 4,552,341 shares of the company’s stock worth $310,878,000 after purchasing an additional 590,410 shares in the last quarter. Finally, Sabal Trust CO acquired a new stake in shares of SYSCO in the 2nd quarter worth $24,275,000. 80.22% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently weighed in on SYY shares. ValuEngine raised SYSCO from a “hold” rating to a “buy” rating in a research report on Tuesday, June 26th. Morgan Stanley raised their target price on SYSCO from $61.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 17th. Wells Fargo & Co raised their target price on SYSCO from $71.00 to $80.00 and gave the stock a “$70.32” rating in a research note on Wednesday, July 18th. They noted that the move was a valuation call. Zacks Investment Research lowered SYSCO from a “hold” rating to a “sell” rating in a research note on Monday, July 23rd. Finally, Pivotal Research lowered SYSCO from a “hold” rating to a “sell” rating and set a $58.00 target price for the company. in a research note on Friday, August 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $72.42.
SYY stock traded up $0.17 during midday trading on Thursday, reaching $70.55. The stock had a trading volume of 1,558,700 shares, compared to its average volume of 2,677,051. The firm has a market capitalization of $38.07 billion, a price-to-earnings ratio of 22.54, a price-to-earnings-growth ratio of 1.98 and a beta of 0.56. The company has a debt-to-equity ratio of 3.01, a current ratio of 1.21 and a quick ratio of 0.74. SYSCO Co. has a 52-week low of $52.30 and a 52-week high of $75.98.
SYSCO (NYSE:SYY) last issued its earnings results on Monday, August 13th. The company reported $0.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.01. The company had revenue of $15.32 billion during the quarter, compared to analyst estimates of $15.30 billion. SYSCO had a return on equity of 68.15% and a net margin of 2.44%. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the business posted $0.72 EPS. As a group, equities research analysts expect that SYSCO Co. will post 3.49 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 26th. Investors of record on Friday, October 5th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $1.44 dividend on an annualized basis and a yield of 2.04%. SYSCO’s dividend payout ratio (DPR) 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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