Corient Capital Partners LLC bought a new stake in SYSCO Co. (NYSE:SYY) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,923 shares of the company’s stock, valued at approximately $329,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of SYY. Sontag Advisory LLC acquired a new stake in SYSCO in the 4th quarter valued at approximately $25,000. Advisors Preferred LLC acquired a new stake in SYSCO in the 1st quarter valued at approximately $26,000. Athena Capital Advisors LLC acquired a new stake in SYSCO in the 4th quarter valued at approximately $29,000. Valley National Advisers Inc. raised its position in SYSCO by 60.5% in the 4th quarter. Valley National Advisers Inc. now owns 472 shares of the company’s stock valued at $30,000 after buying an additional 178 shares during the last quarter. Finally, Murphy Pohlad Asset Management LLC acquired a new stake in SYSCO in the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 77.58% of the company’s stock.
SYY stock traded up $0.28 during midday trading on Friday, reaching $70.72. 2,486,988 shares of the stock were exchanged, compared to its average volume of 2,771,775. The company has a market cap of $36.40 billion, a PE ratio of 22.52, a PEG ratio of 2.03 and a beta of 0.55. SYSCO Co. has a 52 week low of $59.44 and a 52 week high of $75.98. The company has a quick ratio of 0.79, a current ratio of 1.30 and a debt-to-equity ratio of 3.44. The firm has a fifty day moving average of $72.55.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be given a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.21%. SYSCO’s dividend payout ratio (DPR) is presently 49.68%.
A number of research firms have weighed in on SYY. Morgan Stanley raised their price target on SYSCO from $69.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 7th. Zacks Investment Research downgraded SYSCO from a “buy” rating to a “hold” rating in a research note on Thursday, April 11th. Loop Capital lifted their target price on SYSCO to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. ValuEngine upgraded SYSCO from a “hold” rating to a “buy” rating in a research note on Wednesday, May 29th. Finally, Pivotal Research reiterated a “sell” rating and set a $58.00 target price (up from $54.00) on shares of SYSCO in a research note on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. SYSCO currently has an average rating of “Hold” and a consensus target price of $74.21.
SYSCO Company Profile
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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