Camden National Bank lessened its holdings in shares of SYSCO Co. (NYSE:SYY) by 0.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 134,602 shares of the company’s stock after selling 777 shares during the period. SYSCO makes up about 2.2% of Camden National Bank’s portfolio, making the stock its 19th biggest holding. Camden National Bank’s holdings in SYSCO were worth $9,519,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of SYY. 6 Meridian lifted its stake in SYSCO by 1.8% in the 2nd quarter. 6 Meridian now owns 7,760 shares of the company’s stock valued at $549,000 after buying an additional 140 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. lifted its stake in SYSCO by 3.4% in the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 4,623 shares of the company’s stock valued at $327,000 after buying an additional 150 shares in the last quarter. Cornerstone Advisors Inc. lifted its stake in SYSCO by 27.0% in the 2nd quarter. Cornerstone Advisors Inc. now owns 733 shares of the company’s stock valued at $52,000 after buying an additional 156 shares in the last quarter. Cable Hill Partners LLC lifted its stake in SYSCO by 11.8% in the 1st quarter. Cable Hill Partners LLC now owns 1,520 shares of the company’s stock valued at $101,000 after buying an additional 161 shares in the last quarter. Finally, Lynch & Associates IN lifted its stake in SYSCO by 0.3% in the 2nd quarter. Lynch & Associates IN now owns 60,842 shares of the company’s stock valued at $4,303,000 after buying an additional 161 shares in the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.
A number of research analysts have weighed in on the stock. Barclays raised their target price on shares of SYSCO from $70.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 13th. JPMorgan Chase & Co. raised 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. ValuEngine upgraded shares of SYSCO from a “hold” rating to a “buy” rating in a report on Wednesday, May 29th. Credit Suisse Group lifted their target price on shares of SYSCO from $76.00 to $79.00 and gave the company an “outperform” rating in a report on Tuesday, August 13th. Finally, Zacks Investment Research downgraded shares of SYSCO from a “buy” rating to a “hold” rating and set a $75.00 target price for the company. in a report on Tuesday, June 11th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. SYSCO presently has an average rating of “Hold” and a consensus price target of $73.60.
Shares of NYSE SYY opened at $78.08 on Friday. SYSCO Co. has a 12-month low of $59.44 and a 12-month high of $78.33. The company has a market capitalization of $39.88 billion, a PE ratio of 21.99, a price-to-earnings-growth ratio of 2.13 and a beta of 0.48. The company has a debt-to-equity ratio of 3.25, a current ratio of 1.33 and a quick ratio of 0.81. The firm’s 50-day moving average is $72.39 and its two-hundred day moving average is $70.68.
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, topping the Zacks’ consensus estimate of $1.07 by $0.03. SYSCO had a net margin of 2.79% and a return on equity of 76.80%. The company had revenue of $15.47 billion for the quarter, compared to the consensus estimate of $15.65 billion. During the same period last year, the firm posted $0.94 EPS. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, analysts forecast that SYSCO Co. will post 3.81 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be given a $0.39 dividend. The ex-dividend date is Thursday, October 3rd. This represents a $1.56 annualized dividend and a yield of 2.00%. SYSCO’s dividend payout ratio is presently 43.94%.
In related news, Director Hans-Joachim Koerber sold 10,000 shares of SYSCO stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $73.35, for a total value of $733,500.00. Following the sale, the director now directly owns 52,872 shares in the company, valued at approximately $3,878,161.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 7.88% of the company’s stock.
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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