Nicholas Hoffman & Company LLC. purchased a new stake in SYSCO Co. (NYSE:SYY) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,150 shares of the company’s stock, valued at approximately $463,000.
A number of other institutional investors also recently modified their holdings of SYY. Sugarloaf Wealth Management LLC bought a new stake in SYSCO in the 4th quarter valued at $26,000. West Bancorporation Inc. acquired a new position in shares of SYSCO in the 4th quarter valued at $27,000. Westside Investment Management Inc. acquired a new position in shares of SYSCO in the 1st quarter valued at $29,000. St. Johns Investment Management Company LLC acquired a new position in shares of SYSCO in the 4th quarter valued at $32,000. Finally, TFG Advisers LLC acquired a new position in shares of SYSCO in the 4th quarter valued at $34,000. 79.59% of the stock is owned by hedge funds and other institutional investors.
In other SYSCO news, Director Joshua D. Frank bought 600,000 shares of SYSCO stock in a transaction dated Friday, May 15th. The shares were bought at an average price of $47.42 per share, with a total value of $28,452,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Trian Fund Management, L.P. bought 703,700 shares of SYSCO stock in a transaction dated Monday, May 18th. The stock was acquired at an average cost of $51.38 per share, for a total transaction of $36,156,106.00. The disclosure for this purchase can be found here. 5.24% of the stock is currently owned by company insiders.
SYY has been the subject of a number of recent research reports. Credit Suisse Group dropped their price objective on shares of SYSCO from $67.00 to $63.00 and set an “outperform” rating for the company in a research note on Wednesday, May 6th. Jefferies Financial Group dropped their price objective on shares of SYSCO from $66.00 to $65.00 and set a “buy” rating for the company in a research note on Wednesday, May 6th. JPMorgan Chase & Co. dropped their price objective on shares of SYSCO from $78.00 to $47.00 and set an “overweight” rating for the company in a research note on Monday, April 6th. Argus cut shares of SYSCO from a “buy” rating to a “hold” rating in a research note on Tuesday, March 24th. Finally, BMO Capital Markets cut shares of SYSCO from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $88.00 to $51.00 in a research report on Thursday, April 23rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $69.23.
SYY traded down $0.73 during midday trading on Friday, hitting $51.75. The company had a trading volume of 3,526,597 shares, compared to its average volume of 5,359,087. The company has a debt-to-equity ratio of 5.21, a quick ratio of 0.93 and a current ratio of 1.49. The company has a market capitalization of $26.64 billion, a PE ratio of 15.53, a P/E/G ratio of 2.78 and a beta of 1.15. SYSCO Co. has a twelve month low of $26.00 and a twelve month high of $85.98. The firm’s 50-day simple moving average is $49.70 and its 200-day simple moving average is $68.68.
SYSCO (NYSE:SYY) last issued its earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.08). The business had revenue of $13.70 billion during the quarter, compared to the consensus estimate of $14.04 billion. SYSCO had a net margin of 2.30% and a return on equity of 73.70%. The firm’s revenue for the quarter was down 6.5% compared to the same quarter last year. During the same period last year, the business posted $0.79 EPS. As a group, sell-side analysts anticipate that SYSCO Co. will post 2.1 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, April 24th. Stockholders of record on Friday, April 3rd were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 3.48%. The ex-dividend date was Thursday, April 2nd. SYSCO’s dividend payout ratio (DPR) is presently 50.70%.
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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