Aperio Group LLC lifted its stake in shares of Sysco Co. (NYSE:SYY) by 3.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 275,756 shares of the company’s stock after acquiring an additional 9,534 shares during the quarter. Aperio Group LLC owned about 0.05% of Sysco worth $17,157,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Knuff & Co LLC acquired a new position in shares of Sysco during the third quarter valued at approximately $25,000. Financial Management Professionals Inc. acquired a new position in Sysco in the second quarter worth approximately $32,000. Berman Capital Advisors LLC grew its position in Sysco by 102.2% in the third quarter. Berman Capital Advisors LLC now owns 544 shares of the company’s stock worth $33,000 after buying an additional 275 shares during the last quarter. Weaver Consulting Group grew its position in Sysco by 92.9% in the third quarter. Weaver Consulting Group now owns 623 shares of the company’s stock worth $39,000 after buying an additional 300 shares during the last quarter. Finally, Shine Investment Advisory Services Inc. grew its position in Sysco by 369.9% in the second quarter. Shine Investment Advisory Services Inc. now owns 874 shares of the company’s stock worth $48,000 after buying an additional 688 shares during the last quarter. Institutional investors and hedge funds own 79.58% of the company’s stock.
Shares of NYSE:SYY opened at $74.97 on Tuesday. The firm has a fifty day moving average of $63.85 and a two-hundred day moving average of $58.34. The firm has a market capitalization of $38.19 billion, a P/E ratio of 197.29, a price-to-earnings-growth ratio of 3.25 and a beta of 1.20. Sysco Co. has a 12-month low of $26.00 and a 12-month high of $85.98. The company has a quick ratio of 1.38, a current ratio of 1.84 and a debt-to-equity ratio of 11.14.
Sysco (NYSE:SYY) last issued its earnings results on Sunday, November 8th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.09. The company had revenue of $11.78 billion during the quarter, compared to analyst estimates of $12.06 billion. Sysco had a net margin of 0.41% and a return on equity of 50.53%. The company’s revenue for the quarter was down 23.0% on a year-over-year basis. During the same quarter last year, the business posted $0.98 EPS. Equities research analysts expect that Sysco Co. will post 1.8 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 23rd. Shareholders of record on Friday, October 2nd were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend was Thursday, October 1st. Sysco’s dividend payout ratio (DPR) is currently 89.55%.
In related news, Director Nancy Newcomb sold 10,000 shares of Sysco stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $60.38, for a total value of $603,800.00. Following the completion of the sale, the director now owns 61,873 shares of the company’s stock, valued at approximately $3,735,891.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Greg D. Bertrand sold 1,134 shares of Sysco stock in a transaction on Monday, August 24th. The shares were sold at an average price of $57.95, for a total transaction of $65,715.30. Following the completion of the sale, the executive vice president now directly owns 38,403 shares of the company’s stock, valued at approximately $2,225,453.85. The disclosure for this sale can be found here. Company insiders own 5.17% of the company’s stock.
Several research analysts have issued reports on SYY shares. ValuEngine upgraded shares of Sysco from a “hold” rating to a “buy” rating in a research report on Friday, October 23rd. Credit Suisse Group lifted their price target on shares of Sysco from $76.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 4th. Piper Sandler restated an “overweight” rating and issued a $75.00 price target (up previously from $64.00) on shares of Sysco in a research report on Wednesday, November 11th. Morgan Stanley lifted their price target on shares of Sysco from $66.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 4th. Finally, Zacks Investment Research upgraded shares of Sysco from a “sell” rating to a “hold” rating and set a $75.00 price objective on the stock in a research report on Tuesday, November 10th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $76.22.
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 in the United States, Canada, the United Kingdom, France, and internationally. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other.
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