AE Wealth Management LLC purchased a new stake in SYSCO Co. (NYSE:SYY) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,527 shares of the company’s stock, valued at approximately $214,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its position in shares of SYSCO by 9,055.0% during the 2nd quarter. Janus Henderson Group PLC now owns 5,707,603 shares of the company’s stock valued at $287,264,000 after acquiring an additional 5,645,259 shares during the period. Parnassus Investments CA lifted its position in shares of SYSCO by 20.3% during the 3rd quarter. Parnassus Investments CA now owns 7,410,401 shares of the company’s stock valued at $399,791,000 after acquiring an additional 1,250,005 shares during the period. American Century Companies Inc. lifted its position in shares of SYSCO by 21.1% during the 3rd quarter. American Century Companies Inc. now owns 6,120,917 shares of the company’s stock valued at $330,223,000 after acquiring an additional 1,065,987 shares during the period. Miller Howard Investments Inc. NY bought a new stake in shares of SYSCO during the 4th quarter valued at $60,798,000. Finally, Gotham Asset Management LLC bought a new stake in shares of SYSCO during the 2nd quarter valued at $27,591,000. Institutional investors and hedge funds own 79.35% of the company’s stock.
In other SYSCO news, SVP William W. Goetz sold 11,323 shares of the company’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $62.00, for a total value of $702,026.00. Following the completion of the transaction, the senior vice president now owns 35,825 shares of the company’s stock, valued at approximately $2,221,150. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Wayne Shurts sold 15,600 shares of the company’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $61.44, for a total value of $958,464.00. Following the completion of the transaction, the insider now directly owns 55,235 shares of the company’s stock, valued at approximately $3,393,638.40. The disclosure for this sale can be found here. Insiders have sold a total of 144,695 shares of company stock valued at $8,759,223 in the last three months. 9.60% of the stock is owned by insiders.
SYSCO (NYSE:SYY) last posted its quarterly earnings results on Monday, February 5th. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. SYSCO had a return on equity of 61.02% and a net margin of 2.10%. The company had revenue of $14.41 billion during the quarter, compared to analysts’ expectations of $14.15 billion. During the same quarter in the previous year, the firm earned $0.58 EPS. SYSCO’s revenue was up 7.1% on a year-over-year basis. research analysts expect that SYSCO Co. will post 2.95 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, January 26th. Stockholders of record on Friday, January 5th were issued a dividend of $0.36 per share. The ex-dividend date was Thursday, January 4th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.48%. This is a boost from SYSCO’s previous quarterly dividend of $0.33. SYSCO’s payout ratio is 64.29%.
A number of research firms have recently weighed in on SYY. Bank of America upped their target price on SYSCO from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. Loop Capital cut their target price on SYSCO from $72.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. Pivotal Research cut their target price on SYSCO from $68.00 to $61.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. Royal Bank of Canada reiterated a “sector perform” rating and set a $61.00 target price on shares of SYSCO in a research report on Tuesday, February 6th. Finally, BMO Capital Markets set a $74.00 target price on SYSCO and gave the company a “buy” rating in a research report on Monday, February 5th. Six equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $65.20.
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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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