Flagship Harbor Advisors LLC raised its stake in shares of SYSCO Co. (NYSE:SYY) by 7.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,950 shares of the company’s stock after acquiring an additional 207 shares during the period. Flagship Harbor Advisors LLC’s holdings in SYSCO were worth $208,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. 6 Meridian grew its holdings in SYSCO by 1.8% during the 2nd quarter. 6 Meridian now owns 7,760 shares of the company’s stock valued at $549,000 after buying an additional 140 shares during the last quarter. Security National Trust Co. grew its holdings in SYSCO by 6.4% during the 1st quarter. Security National Trust Co. now owns 2,500 shares of the company’s stock valued at $167,000 after buying an additional 150 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. grew its holdings in SYSCO by 3.4% during the 2nd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 4,623 shares of the company’s stock valued at $327,000 after buying an additional 150 shares during the last quarter. LVM Capital Management Ltd. MI grew its holdings in SYSCO by 1.4% during the 1st quarter. LVM Capital Management Ltd. MI now owns 11,284 shares of the company’s stock valued at $753,000 after buying an additional 155 shares during the last quarter. Finally, Cornerstone Advisors Inc. grew its holdings in SYSCO by 27.0% during the 2nd quarter. Cornerstone Advisors Inc. now owns 733 shares of the company’s stock valued at $52,000 after buying an additional 156 shares during the last quarter. 78.54% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on SYY shares. Zacks Investment Research cut SYSCO from a “buy” rating to a “hold” rating and set a $75.00 target price on the stock. in a report on Tuesday, June 11th. Loop Capital raised their price objective on SYSCO to $80.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. ValuEngine upgraded SYSCO from a “hold” rating to a “buy” rating in a report on Wednesday, May 29th. Morgan Stanley raised their price objective on SYSCO from $69.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 7th. Finally, Barclays raised their price objective on SYSCO from $70.00 to $71.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. SYSCO presently has a consensus rating of “Hold” and a consensus target price of $73.60.
NYSE SYY traded down $0.49 on Friday, hitting $72.80. 1,917,697 shares of the stock were exchanged, compared to its average volume of 3,642,574. SYSCO Co. has a 52-week low of $59.44 and a 52-week high of $75.98. The company has a debt-to-equity ratio of 3.25, a current ratio of 1.33 and a quick ratio of 0.81. The company has a market capitalization of $37.67 billion, a price-to-earnings ratio of 20.51, a P/E/G ratio of 2.03 and a beta of 0.52. The company’s 50-day moving average price is $71.25 and its two-hundred day moving average price is $69.91.
SYSCO (NYSE:SYY) last posted its quarterly earnings data on Monday, August 12th. The company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.03. SYSCO had a net margin of 2.79% and a return on equity of 76.80%. The firm had revenue of $15.47 billion for the quarter, compared to analysts’ expectations of $15.65 billion. During the same period in the previous year, the company posted $0.94 EPS. The company’s quarterly revenue was up 1.0% compared to the same quarter last year. Equities analysts predict that SYSCO Co. will post 3.82 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Thursday, October 3rd. SYSCO’s dividend payout ratio is currently 43.94%.
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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