Marco Investment Management LLC lifted its position in SYSCO Co. (NYSE:SYY) by 9.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,300 shares of the company’s stock after purchasing an additional 2,000 shares during the quarter. Marco Investment Management LLC’s holdings in SYSCO were worth $1,415,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vident Investment Advisory LLC acquired a new position in shares of SYSCO in the third quarter valued at $393,000. Chicago Partners Investment Group LLC grew its position in SYSCO by 637.5% in the third quarter. Chicago Partners Investment Group LLC now owns 5,900 shares of the company’s stock valued at $318,000 after acquiring an additional 5,100 shares during the period. California Public Employees Retirement System grew its position in SYSCO by 5.7% in the third quarter. California Public Employees Retirement System now owns 1,348,829 shares of the company’s stock valued at $72,769,000 after acquiring an additional 72,800 shares during the period. CAPROCK Group Inc. bought a new stake in SYSCO in the fourth quarter valued at $611,000. Finally, Deutsche Bank AG grew its position in SYSCO by 1.7% in the fourth quarter. Deutsche Bank AG now owns 2,691,367 shares of the company’s stock valued at $163,438,000 after acquiring an additional 45,042 shares during the period. Institutional investors and hedge funds own 79.02% of the company’s stock.
SYY has been the topic of a number of analyst reports. Loop Capital lowered their price target on SYSCO from $72.00 to $70.00 and set a “buy” rating on the stock in a research report on Tuesday, February 6th. Royal Bank of Canada restated a “sector perform” rating and set a $61.00 target price on shares of SYSCO in a report on Tuesday, February 6th. Zacks Investment Research upgraded SYSCO from a “hold” rating to a “strong-buy” rating and set a $71.00 target price on the stock in a report on Wednesday, January 10th. Pivotal Research increased their target price on SYSCO from $53.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, December 12th. Finally, 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. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. SYSCO currently has a consensus rating of “Hold” and an average price target of $65.20.
SYSCO (NYSE:SYY) last posted its quarterly earnings results on Monday, February 5th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.01. The business had revenue of $14.41 billion for the quarter, compared to analysts’ expectations of $14.15 billion. SYSCO had a return on equity of 61.02% and a net margin of 2.10%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.58 earnings per share. equities analysts forecast that SYSCO Co. will post 2.95 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Friday, April 6th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Thursday, April 5th. SYSCO’s dividend payout ratio is 64.29%.
In other SYSCO news, insider Russell T. Libby sold 13,334 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $60.69, for a total value of $809,240.46. Following the transaction, the insider now owns 64,394 shares of the company’s stock, valued at $3,908,071.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard G. Tilghman sold 5,000 shares of the stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $59.80, for a total value of $299,000.00. Following the completion of the transaction, the director now directly owns 90,552 shares in the company, valued at approximately $5,415,009.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 164,704 shares of company stock worth $10,012,748. 9.60% of the stock is owned by company insiders.
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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