Hudson Valley Investment Advisors Inc. ADV lessened its stake in SYSCO Co. (NYSE:SYY) by 5.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,525 shares of the company’s stock after selling 1,450 shares during the period. Hudson Valley Investment Advisors Inc. ADV’s holdings in SYSCO were worth $1,876,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in SYY. FMR LLC grew its holdings in shares of SYSCO by 29.4% in the first quarter. FMR LLC now owns 5,749,922 shares of the company’s stock valued at $383,865,000 after purchasing an additional 1,306,410 shares in the last quarter. Geode Capital Management LLC raised its holdings in SYSCO by 20.5% in the fourth quarter. Geode Capital Management LLC now owns 6,331,895 shares of the company’s stock worth $396,070,000 after purchasing an additional 1,076,459 shares in the last quarter. Thoroughbred Financial Services LLC grew its stake in shares of SYSCO by 7,119.9% during the second quarter. Thoroughbred Financial Services LLC now owns 885,956 shares of the company’s stock worth $88,596,000 after acquiring an additional 873,685 shares during the last quarter. Janus Henderson Group PLC boosted its position in SYSCO by 8.7% in the first quarter. Janus Henderson Group PLC now owns 7,948,553 shares of the company’s stock valued at $530,645,000 after buying an additional 633,041 shares during the last quarter. Finally, AJO LP lifted its holdings in SYSCO by 425.4% in the first quarter. AJO LP now owns 733,329 shares of the company’s stock valued at $48,957,000 after acquiring an additional 593,750 shares during the period. Hedge funds and other institutional investors own 78.30% of the company’s stock.
Shares of SYSCO stock opened at $72.25 on Friday. The company has a debt-to-equity ratio of 3.25, a current ratio of 1.33 and a quick ratio of 0.79. The stock has a market capitalization of $37.71 billion, a price-to-earnings ratio of 20.35, a price-to-earnings-growth ratio of 1.96 and a beta of 0.52. The business has a 50-day moving average of $70.90 and a 200 day moving average of $69.65. SYSCO Co. has a 12 month low of $59.44 and a 12 month high of $75.98.
SYSCO (NYSE:SYY) last posted its quarterly earnings results on Monday, August 12th. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.03. SYSCO had a return on equity of 76.80% and a net margin of 2.79%. The company had revenue of $15.47 billion for the quarter, compared to analyst estimates of $15.65 billion. During the same quarter last year, the company earned $0.94 EPS. SYSCO’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities research analysts anticipate that SYSCO Co. will post 3.81 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend is Thursday, October 3rd. SYSCO’s dividend payout ratio (DPR) is presently 43.94%.
SYY has been the subject of a number of analyst reports. Credit Suisse Group boosted their price target on SYSCO from $76.00 to $79.00 and gave the company an “outperform” rating in a report on Tuesday. Buckingham Research upped their target price on SYSCO from $82.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Pivotal Research reaffirmed a “sell” rating and set a $58.00 target price (up from $54.00) on shares of SYSCO in a research note on Tuesday, May 7th. ValuEngine raised SYSCO from a “hold” rating to a “buy” rating in a research note on Wednesday, May 29th. Finally, Barclays increased their price objective on SYSCO from $70.00 to $71.00 and gave the company an “equal weight” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $74.48.
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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