Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Sysco Corporation (NYSE:SYY – Free Report) during the fourth quarter, Holdings Channel.com reports. The fund purchased 8,255 shares of the company’s stock, valued at approximately $608,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jackson Grant Investment Advisers Inc. purchased a new position in Sysco in the third quarter valued at $25,000. Peterson Wealth Services boosted its stake in shares of Sysco by 875.7% during the 3rd quarter. Peterson Wealth Services now owns 361 shares of the company’s stock worth $30,000 after acquiring an additional 324 shares in the last quarter. Torren Management LLC acquired a new stake in shares of Sysco during the 4th quarter valued at about $27,000. Elyxium Wealth LLC acquired a new stake in shares of Sysco during the 4th quarter valued at about $28,000. Finally, Navalign LLC purchased a new position in shares of Sysco in the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 83.41% of the company’s stock.
Sysco Stock Up 2.1%
SYY opened at $77.06 on Friday. The company has a market cap of $36.85 billion, a PE ratio of 21.34, a price-to-earnings-growth ratio of 3.08 and a beta of 0.66. Sysco Corporation has a twelve month low of $68.19 and a twelve month high of $91.85. The company has a 50-day moving average price of $76.19 and a 200 day moving average price of $78.03. The company has a quick ratio of 0.80, a current ratio of 1.33 and a debt-to-equity ratio of 5.58.
Sysco Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, July 24th. Investors of record on Thursday, July 2nd will be given a dividend of $0.55 per share. The ex-dividend date is Thursday, July 2nd. This is a positive change from Sysco’s previous quarterly dividend of $0.54. This represents a $2.20 annualized dividend and a dividend yield of 2.9%. Sysco’s dividend payout ratio (DPR) is presently 59.83%.
Analyst Ratings Changes
SYY has been the subject of a number of analyst reports. Wall Street Zen cut Sysco from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Argus raised Sysco to a “hold” rating in a report on Thursday, January 29th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Sysco in a research note on Wednesday, January 28th. Deutsche Bank Aktiengesellschaft lowered Sysco from a “buy” rating to a “hold” rating and set a $84.00 target price on the stock. in a research report on Tuesday, April 28th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Sysco from $85.00 to $87.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. Nine investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.15.
Get Our Latest Stock Analysis on SYY
Sysco Company Profile
Sysco Corporation (NYSE: SYY) is a global foodservice distribution company that supplies a broad range of food and related products to restaurants, healthcare and educational facilities, lodging establishments, and other foodservice customers. Its core business is the procurement, warehousing and delivery of fresh, frozen and dry food products, complemented by non-food items such as paper goods, kitchen equipment, cleaning supplies and tabletop products. Sysco serves customers through an extensive network of distribution centers and dedicated delivery fleets, positioning itself as a one-stop supplier for operators of all sizes.
Founded in 1969 and headquartered in Houston, Texas, Sysco has grown through both organic expansion and acquisitions.
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