Hoylecohen LLC bought a new position in SYSCO Co. (NYSE:SYY) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 7,933 shares of the company’s stock, valued at approximately $530,000.
A number of other institutional investors also recently made changes to their positions in SYY. Advisors Preferred LLC purchased a new position in shares of SYSCO during the first quarter valued at about $26,000. Sontag Advisory LLC purchased a new position in shares of SYSCO during the fourth quarter valued at about $25,000. Athena Capital Advisors LLC purchased a new position in shares of SYSCO during the fourth quarter valued at about $29,000. Valley National Advisers Inc. grew its position in shares of SYSCO by 60.5% during the fourth quarter. Valley National Advisers Inc. now owns 472 shares of the company’s stock valued at $30,000 after purchasing an additional 178 shares in the last quarter. Finally, Lenox Wealth Management Inc. grew its position in shares of SYSCO by 163.7% during the first quarter. Lenox Wealth Management Inc. now owns 480 shares of the company’s stock valued at $32,000 after purchasing an additional 298 shares in the last quarter. 77.54% of the stock is currently owned by institutional investors.
Shares of SYSCO stock traded down $0.04 during mid-day trading on Monday, hitting $70.68. The stock had a trading volume of 1,747,100 shares, compared to its average volume of 2,763,577. The firm’s 50-day simple moving average is $72.35. SYSCO Co. has a 12-month low of $59.44 and a 12-month high of $75.98. The company has a current ratio of 1.30, a quick ratio of 0.79 and a debt-to-equity ratio of 3.44. The company has a market cap of $36.53 billion, a price-to-earnings ratio of 22.51, a P/E/G ratio of 2.04 and a beta of 0.54.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.56 annualized dividend and a dividend yield of 2.21%. SYSCO’s dividend payout ratio (DPR) is 49.68%.
SYY has been the subject of several recent analyst reports. Zacks Investment Research lowered SYSCO from a “buy” rating to a “hold” rating in a research report on Friday, May 17th. Pivotal Research reaffirmed a “sell” rating and set a $58.00 price target (up previously from $54.00) on shares of SYSCO in a research note on Tuesday, May 7th. ValuEngine raised shares of SYSCO from a “hold” rating to a “buy” rating in a research note on Wednesday, May 29th. Buckingham Research boosted their price objective on shares of SYSCO from $82.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Finally, JPMorgan Chase & Co. reduced their price target on SYSCO from $77.00 to $75.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $74.21.
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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