BKD Wealth Advisors LLC increased its position in shares of SYSCO Co. (NYSE:SYY) by 6.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 59,051 shares of the company’s stock after purchasing an additional 3,781 shares during the quarter. BKD Wealth Advisors LLC’s holdings in SYSCO were worth $3,586,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of SYSCO by 1.6% in the second quarter. Vanguard Group Inc. now owns 38,501,911 shares of the company’s stock worth $1,937,801,000 after acquiring an additional 590,968 shares during the last quarter. BlackRock Inc. raised its holdings in shares of SYSCO by 0.3% in the second quarter. BlackRock Inc. now owns 32,291,082 shares of the company’s stock worth $1,625,211,000 after acquiring an additional 83,464 shares during the last quarter. State Street Corp raised its holdings in shares of SYSCO by 1.0% in the second quarter. State Street Corp now owns 26,707,981 shares of the company’s stock worth $1,344,209,000 after acquiring an additional 272,303 shares during the last quarter. Capital World Investors raised its holdings in shares of SYSCO by 11.7% in the second quarter. Capital World Investors now owns 13,767,000 shares of the company’s stock worth $692,893,000 after acquiring an additional 1,445,000 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of SYSCO by 2.0% in the third quarter. Ameriprise Financial Inc. now owns 10,451,813 shares of the company’s stock worth $563,890,000 after acquiring an additional 208,815 shares during the last quarter. 80.08% of the stock is owned by hedge funds and other institutional investors.
In other SYSCO news, EVP Wayne Shurts sold 7,800 shares of the business’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $61.76, for a total transaction of $481,728.00. Following the completion of the sale, the executive vice president now owns 55,235 shares of the company’s stock, valued at $3,411,313.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William J. Delaney III sold 150,000 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were 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 approximately $28,469,486.25. The disclosure for this sale can be found here. Insiders sold 291,172 shares of company stock valued at $16,592,605 over the last quarter. Insiders own 9.60% of the company’s stock.
SYSCO (NYSE:SYY) last released its earnings results 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 during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.67 earnings per share. equities research analysts forecast that SYSCO Co. will post 2.81 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 5th will be paid a $0.36 dividend. This is a positive change from SYSCO’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a yield of 2.32%. The ex-dividend date is Thursday, January 4th. SYSCO’s dividend payout ratio is presently 65.75%.
A number of equities analysts have recently weighed in on SYY shares. Pivotal Research reissued a “hold” rating and issued a $53.00 price target on shares of SYSCO in a report on Sunday, November 5th. Zacks Investment Research raised SYSCO from a “hold” rating to a “strong-buy” rating and set a $71.00 price target for the company in a report on Wednesday, January 10th. Loop Capital boosted their price target 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 price target on SYSCO and gave the stock a “buy” rating in a report on Friday, December 8th. Finally, Morgan Stanley raised SYSCO from an “underweight” rating to an “equal weight” rating and set a $64.00 price target for the company in a report on Tuesday. Seven research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $59.92.
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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