QUANTRES ASSET MANAGEMENT Ltd purchased a new stake in shares of SYSCO Co. (NYSE:SYY) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 12,600 shares of the company’s stock, valued at approximately $765,000.
Other hedge funds have also made changes to their positions in the company. Blue Chip Partners Inc. grew its stake in shares of SYSCO by 0.6% in the 2nd quarter. Blue Chip Partners Inc. now owns 2,967 shares of the company’s stock worth $149,000 after acquiring an additional 18 shares in the last quarter. Northwest Quadrant Wealth Management LLC grew its stake in shares of SYSCO by 0.6% in the 2nd quarter. Northwest Quadrant Wealth Management LLC now owns 5,169 shares of the company’s stock worth $269,000 after acquiring an additional 29 shares in the last quarter. Keel Point LLC grew its stake in shares of SYSCO by 0.8% in the 2nd quarter. Keel Point LLC now owns 5,782 shares of the company’s stock worth $291,000 after acquiring an additional 47 shares in the last quarter. First Interstate Bank grew its stake in shares of SYSCO by 1.4% in the 2nd quarter. First Interstate Bank now owns 4,975 shares of the company’s stock worth $250,000 after acquiring an additional 67 shares in the last quarter. Finally, W.G. Shaheen & Associates DBA Whitney & Co grew its stake in shares of SYSCO by 0.6% in the 2nd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 17,800 shares of the company’s stock worth $896,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 80.07% of the company’s stock.
Several analysts have recently issued reports on SYY shares. BMO Capital Markets reiterated an “outperform” rating on shares of SYSCO in a research note on Tuesday, September 12th. Zacks Investment Research upgraded shares of SYSCO from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Tuesday, October 10th. Pivotal Research reiterated a “hold” rating and issued a $53.00 target price on shares of SYSCO in a research note on Sunday, November 5th. Finally, Loop Capital upped their target price on shares of SYSCO to $68.00 and gave the stock a “buy” rating in a research note on Monday, December 11th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. SYSCO presently has an average rating of “Buy” and a consensus target price of $58.55.
SYSCO (NYSE:SYY) last posted its quarterly earnings results on Monday, November 6th. The company reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.02. The company had revenue of $14.65 billion during the quarter, compared to analyst estimates of $14.43 billion. SYSCO had a net margin of 2.12% and a return on equity of 58.47%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.67 earnings per share. equities analysts forecast that SYSCO Co. will post 2.78 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 5th will be given a dividend of $0.36 per share. The ex-dividend date is Thursday, January 4th. This represents a $1.44 annualized dividend and a yield of 2.34%. This is a positive change from SYSCO’s previous quarterly dividend of $0.33. SYSCO’s dividend payout ratio is presently 60.27%.
In related news, insider Russell T. Libby sold 13,334 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $60.69, for a total transaction of $809,240.46. Following the completion of the transaction, the insider now owns 64,394 shares in the company, valued at $3,908,071.86. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO William J. Delaney III sold 30,000 shares of the stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $54.71, for a total transaction of $1,641,300.00. Following the transaction, the chief executive officer now owns 406,725 shares of the company’s stock, valued at approximately $22,251,924.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 224,534 shares of company stock valued at $12,351,572. 9.60% of the stock is owned by company insiders.
Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.
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