Blue Chip Partners Inc. bought a new stake in Sysco Co. (NYSE:SYY) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,017 shares of the company’s stock, valued at approximately $126,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYY. RFG Advisory LLC raised its holdings in Sysco by 2.1% in the 3rd quarter. RFG Advisory LLC now owns 7,759 shares of the company’s stock worth $483,000 after purchasing an additional 158 shares during the period. Creative Financial Designs Inc. ADV lifted its position in shares of Sysco by 4.1% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 4,774 shares of the company’s stock valued at $297,000 after buying an additional 190 shares in the last quarter. Evolution Wealth Advisors LLC grew its stake in shares of Sysco by 1.0% during the 3rd quarter. Evolution Wealth Advisors LLC now owns 18,805 shares of the company’s stock valued at $1,170,000 after acquiring an additional 192 shares during the period. TRUE Private Wealth Advisors increased its holdings in Sysco by 9.9% in the 2nd quarter. TRUE Private Wealth Advisors now owns 2,230 shares of the company’s stock worth $121,000 after acquiring an additional 200 shares in the last quarter. Finally, S.A. Mason LLC raised its stake in Sysco by 14.6% during the 2nd quarter. S.A. Mason LLC now owns 1,571 shares of the company’s stock worth $86,000 after acquiring an additional 200 shares during the period. Institutional investors own 79.58% of the company’s stock.
A number of analysts have recently issued reports on SYY shares. ValuEngine raised shares of Sysco from a “hold” rating to a “buy” rating in a research note on Friday, October 23rd. Morgan Stanley began coverage on Sysco in a report on Tuesday, September 29th. They set an “equal weight” rating and a $66.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on Sysco from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 20th. Zacks Investment Research raised Sysco from a “sell” rating to a “hold” rating and set a $71.00 target price on the stock in a research note on Tuesday, October 13th. Finally, BMO Capital Markets upped their price target on Sysco from $51.00 to $60.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 12th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $70.67.
Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.29) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.01. Sysco had a net margin of 0.41% and a return on equity of 50.53%. The firm had revenue of $8.87 billion during the quarter, compared to the consensus estimate of $10.12 billion. During the same quarter last year, the firm earned $1.10 EPS. The firm’s revenue for the quarter was down 42.7% compared to the same quarter last year. On average, equities research analysts anticipate that Sysco Co. will post 1.8 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 23rd. Stockholders of record on Friday, October 2nd were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 3.28%. The ex-dividend date was Thursday, October 1st. Sysco’s dividend payout ratio is currently 89.55%.
In related news, Director Nancy Newcomb sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $60.38, for a total transaction of $603,800.00. Following the transaction, the director now directly owns 61,873 shares in the company, valued at approximately $3,735,891.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Greg D. Bertrand sold 1,134 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $57.95, for a total transaction of $65,715.30. Following the completion of the sale, the executive vice president now directly owns 38,403 shares in the company, valued at $2,225,453.85. The disclosure for this sale can be found here. Corporate insiders own 5.17% of the company’s stock.
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 in the United States, Canada, the United Kingdom, France, and internationally. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other.
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