GYL Financial Synergies LLC bought a new position in SYSCO Co. (NYSE:SYY) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm bought 4,471 shares of the company’s stock, valued at approximately $298,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in SYY. Security National Trust Co. increased its stake in SYSCO by 6.4% in the first quarter. Security National Trust Co. now owns 2,500 shares of the company’s stock valued at $167,000 after purchasing an additional 150 shares during the period. LVM Capital Management Ltd. MI increased its stake in shares of SYSCO by 1.4% during the first quarter. LVM Capital Management Ltd. MI now owns 11,284 shares of the company’s stock worth $753,000 after acquiring an additional 155 shares during the period. Whittier Trust Co. increased its stake in shares of SYSCO by 1.1% during the fourth quarter. Whittier Trust Co. now owns 14,950 shares of the company’s stock worth $936,000 after acquiring an additional 160 shares during the period. Cable Hill Partners LLC increased its stake in shares of SYSCO by 11.8% during the first quarter. Cable Hill Partners LLC now owns 1,520 shares of the company’s stock worth $101,000 after acquiring an additional 161 shares during the period. Finally, Cornerstone Advisors Inc. increased its stake in shares of SYSCO by 40.4% during the first quarter. Cornerstone Advisors Inc. now owns 577 shares of the company’s stock worth $39,000 after acquiring an additional 166 shares during the period. 77.54% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have weighed in on the stock. Pivotal Research restated a “sell” rating and set a $58.00 target price (up from $54.00) on shares of SYSCO in a research report on Tuesday, May 7th. Morgan Stanley upped their price target on shares of SYSCO from $69.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, May 7th. Buckingham Research upped their price target on shares of SYSCO from $82.00 to $84.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. ValuEngine raised shares of USINAS SIDERURG/S from a “sell” rating to a “hold” rating in a report on Wednesday, May 29th. Finally, Zacks Investment Research raised shares of HB Fuller from a “sell” rating to a “hold” rating in a research note on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $74.21.
SYSCO (NYSE:SYY) last posted its quarterly earnings results on Monday, May 6th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.70 by $0.09. The business had revenue of $14.66 billion during the quarter, compared to analysts’ expectations of $14.78 billion. SYSCO had a net margin of 2.65% and a return on equity of 73.66%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the company posted $0.67 earnings per share. Equities research analysts anticipate that SYSCO Co. will post 3.5 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Wednesday, July 3rd. SYSCO’s dividend payout ratio (DPR) is presently 49.68%.
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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