Sompo Japan Nipponkoa Asset Management CO. LTD. purchased a new stake in SYSCO Co. (NYSE:SYY) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 20,410 shares of the company’s stock, valued at approximately $931,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Sugarloaf Wealth Management LLC purchased a new position in shares of SYSCO during the fourth quarter valued at approximately $26,000. West Bancorporation Inc. purchased a new position in shares of SYSCO during the fourth quarter valued at approximately $27,000. Westside Investment Management Inc. purchased a new position in shares of SYSCO during the first quarter valued at approximately $29,000. St. Johns Investment Management Company LLC purchased a new position in shares of SYSCO during the fourth quarter valued at approximately $32,000. Finally, TFG Advisers LLC purchased a new position in shares of SYSCO during the fourth quarter valued at approximately $34,000. 79.59% of the stock is currently owned by institutional investors.
SYY has been the topic of several recent analyst reports. BMO Capital Markets downgraded shares of SYSCO from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $88.00 to $51.00 in a research note on Thursday, April 23rd. Zacks Investment Research downgraded shares of SYSCO from a “hold” rating to a “sell” rating and set a $62.00 price objective on the stock. in a research note on Saturday, May 2nd. Jefferies Financial Group reduced their price objective on shares of SYSCO from $66.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. ValuEngine raised shares of SYSCO from a “sell” rating to a “hold” rating in a research note on Saturday, February 29th. Finally, Credit Suisse Group cut their price target on shares of SYSCO from $67.00 to $63.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $69.23.
In other news, Director Joshua D. Frank purchased 600,000 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was acquired at an average cost of $47.42 per share, with a total value of $28,452,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Trian Fund Management, L.P. purchased 703,700 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were purchased at an average cost of $51.38 per share, with a total value of $36,156,106.00. The disclosure for this purchase can be found here. 5.24% of the stock is owned by corporate insiders.
Shares of SYSCO stock traded down $0.73 during trading hours on Friday, hitting $51.75. The company’s stock had a trading volume of 3,526,597 shares, compared to its average volume of 5,359,087. SYSCO Co. has a 1-year low of $26.00 and a 1-year high of $85.98. The business has a fifty day moving average of $49.70 and a 200 day moving average of $68.68. The company has a market capitalization of $26.64 billion, a PE ratio of 15.53, a P/E/G ratio of 2.78 and a beta of 1.15. The company has a quick ratio of 0.93, a current ratio of 1.49 and a debt-to-equity ratio of 5.21.
SYSCO (NYSE:SYY) last released its quarterly earnings data on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.08). SYSCO had a return on equity of 73.70% and a net margin of 2.30%. The business had revenue of $13.70 billion during the quarter, compared to analyst estimates of $14.04 billion. During the same period in the previous year, the company earned $0.79 EPS. SYSCO’s revenue was down 6.5% on a year-over-year basis. On average, sell-side analysts anticipate that SYSCO Co. will post 2.1 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 24th. Stockholders of record on Friday, April 3rd were given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend was Thursday, April 2nd. SYSCO’s payout ratio is currently 50.70%.
Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.
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