Coastline Trust Co decreased its position in shares of SYSCO Co. (NYSE:SYY) by 1.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 123,784 shares of the company’s stock after selling 2,020 shares during the quarter. SYSCO accounts for 1.1% of Coastline Trust Co’s portfolio, making the stock its 11th largest position. Coastline Trust Co’s holdings in SYSCO were worth $7,517,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in SYSCO by 1.6% during the second quarter. Vanguard Group Inc. now owns 38,501,911 shares of the company’s stock valued at $1,937,801,000 after purchasing an additional 590,968 shares during the period. BlackRock Inc. lifted its position in SYSCO by 0.3% during the second quarter. BlackRock Inc. now owns 32,291,082 shares of the company’s stock valued at $1,625,211,000 after purchasing an additional 83,464 shares during the period. State Street Corp lifted its position in SYSCO by 1.0% during the second quarter. State Street Corp now owns 26,707,981 shares of the company’s stock valued at $1,344,209,000 after purchasing an additional 272,303 shares during the period. Capital World Investors lifted its position in SYSCO by 11.7% during the second quarter. Capital World Investors now owns 13,767,000 shares of the company’s stock valued at $692,893,000 after purchasing an additional 1,445,000 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in SYSCO by 2.0% during the third quarter. Ameriprise Financial Inc. now owns 10,451,813 shares of the company’s stock valued at $563,890,000 after purchasing an additional 208,815 shares during the period. Hedge funds and other institutional investors own 80.08% of the company’s stock.
A number of brokerages recently weighed in on SYY. Morgan Stanley upgraded shares of SYSCO from an “underweight” rating to an “equal weight” rating and set a $64.00 price objective on the stock in a research report on Tuesday. Zacks Investment Research upgraded shares of SYSCO from a “hold” rating to a “strong-buy” rating and set a $71.00 price target on the stock in a research report on Wednesday, January 10th. Pivotal Research increased their price target on shares of SYSCO from $53.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, December 12th. Loop Capital increased their price target on shares of SYSCO to $68.00 and gave the stock a “buy” rating in a research report on Monday, December 11th. Finally, BMO Capital Markets set a $66.00 price target on shares of SYSCO and gave the stock a “buy” rating in a research report on Friday, December 8th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $59.92.
SYSCO Co. (NYSE:SYY) traded up $0.34 on Wednesday, reaching $61.72. 2,438,300 shares of the company’s stock traded hands, compared to its average volume of 2,653,770. The company has a market capitalization of $32,410.00, a P/E ratio of 28.18, a PEG ratio of 2.42 and a beta of 0.53. SYSCO Co. has a fifty-two week low of $48.85 and a fifty-two week high of $62.79. The company has a quick ratio of 0.88, a current ratio of 1.40 and a debt-to-equity ratio of 3.77.
SYSCO (NYSE:SYY) last announced its quarterly earnings data on Monday, November 6th. The company reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.02. The firm had revenue of $14.65 billion for the quarter, compared to the consensus estimate of $14.43 billion. SYSCO had a net margin of 2.12% and a return on equity of 58.47%. The company’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the firm earned $0.67 EPS. research analysts expect that SYSCO Co. will post 2.81 earnings per share for the current year.
The company also recently disclosed 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 annualized dividend and a dividend yield of 2.33%. This is an increase from SYSCO’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Thursday, January 4th. SYSCO’s dividend payout ratio (DPR) is presently 65.75%.
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SYSCO Company Profile
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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