Mitchell Sinkler & Starr PA purchased a new stake in SYSCO Co. (NYSE:SYY) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,533 shares of the company’s stock, valued at approximately $215,000.
A number of other institutional investors and hedge funds have also modified their holdings of SYY. Janus Henderson Group PLC lifted its holdings in SYSCO by 9,055.0% during the 2nd quarter. Janus Henderson Group PLC now owns 5,707,603 shares of the company’s stock worth $287,264,000 after buying an additional 5,645,259 shares during the last quarter. American Century Companies Inc. lifted its holdings in SYSCO by 47.6% during the 2nd quarter. American Century Companies Inc. now owns 5,054,930 shares of the company’s stock worth $254,415,000 after buying an additional 1,629,990 shares during the last quarter. Capital World Investors lifted its holdings in SYSCO by 11.7% during the 2nd quarter. Capital World Investors now owns 13,767,000 shares of the company’s stock worth $692,893,000 after buying an additional 1,445,000 shares during the last quarter. Nordea Investment Management AB lifted its holdings in SYSCO by 252.7% during the 2nd quarter. Nordea Investment Management AB now owns 1,928,089 shares of the company’s stock worth $97,041,000 after buying an additional 1,381,441 shares during the last quarter. Finally, Parnassus Investments CA lifted its holdings in SYSCO by 20.3% during the 3rd quarter. Parnassus Investments CA now owns 7,410,401 shares of the company’s stock worth $399,791,000 after buying an additional 1,250,005 shares during the last quarter. 80.07% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have commented on SYY shares. Pivotal Research reaffirmed a “hold” rating and set a $53.00 target price on shares of SYSCO in a report on Sunday, November 5th. Loop Capital increased their target price on SYSCO to $68.00 and gave the stock a “buy” rating in a report on Monday, December 11th. BMO Capital Markets set a $66.00 target price on SYSCO and gave the stock a “buy” rating in a report on Friday, December 8th. Finally, Zacks Investment Research downgraded SYSCO from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. SYSCO has a consensus rating of “Buy” and an average price target of $59.55.
SYSCO (NYSE:SYY) last announced its quarterly earnings results on Monday, November 6th. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.02. The business had revenue of $14.65 billion for the quarter, compared to analysts’ expectations of $14.43 billion. SYSCO had a return on equity of 58.47% and a net margin of 2.12%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.67 EPS. research 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. Stockholders of record on Friday, January 5th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.35%. This is a boost from SYSCO’s previous quarterly dividend of $0.33. The ex-dividend date is Thursday, January 4th. SYSCO’s dividend payout ratio is presently 65.75%.
In related news, insider Russell T. Libby sold 13,334 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $60.69, for a total value of $809,240.46. Following the sale, the insider now directly owns 64,394 shares in the company, valued at approximately $3,908,071.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO William J. Delaney III sold 150,000 shares of the firm’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $54.05, for a total value of $8,107,500.00. Following the sale, the chief executive officer now directly owns 526,725 shares of the company’s stock, valued at $28,469,486.25. The disclosure for this sale can be found here. Insiders have sold a total of 224,534 shares of company stock worth $12,351,572 over the last quarter. Insiders own 9.60% of the company’s stock.
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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