Louisiana State Employees Retirement System lessened its holdings in SYSCO Co. (NYSE:SYY) by 0.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,900 shares of the company’s stock after selling 200 shares during the period. Louisiana State Employees Retirement System’s holdings in SYSCO were worth $1,662,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the business. First Manhattan Co. grew its position in SYSCO by 1.1% in the first quarter. First Manhattan Co. now owns 17,046 shares of the company’s stock valued at $1,137,000 after acquiring an additional 189 shares during the last quarter. Ipswich Investment Management Co. Inc. boosted its stake in shares of SYSCO by 4.6% during the first quarter. Ipswich Investment Management Co. Inc. now owns 13,752 shares of the company’s stock valued at $918,000 after purchasing an additional 600 shares in the last quarter. Carnick & Kubik Group LLC boosted its stake in shares of SYSCO by 1.1% during the first quarter. Carnick & Kubik Group LLC now owns 56,857 shares of the company’s stock valued at $3,796,000 after purchasing an additional 602 shares in the last quarter. Sabal Trust CO boosted its stake in shares of SYSCO by 8.9% during the first quarter. Sabal Trust CO now owns 393,179 shares of the company’s stock valued at $26,249,000 after purchasing an additional 32,234 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of SYSCO during the first quarter valued at about $2,207,000. Hedge funds and other institutional investors own 80.19% of the company’s stock.
SYSCO stock opened at $70.10 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 0.76 and a debt-to-equity ratio of 3.70. The company has a market capitalization of $35.80 billion, a P/E ratio of 22.32, a P/E/G ratio of 1.97 and a beta of 0.54. SYSCO Co. has a one year low of $59.44 and a one year high of $75.98.
SYSCO (NYSE:SYY) last posted its quarterly earnings data on Monday, February 4th. The company reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.03. The company had revenue of $14.80 billion for the quarter, compared to analyst estimates of $14.75 billion. SYSCO had a return on equity of 71.45% and a net margin of 2.48%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.78 earnings per share. Equities analysts predict that SYSCO Co. will post 3.4 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 5th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date is Thursday, April 4th. SYSCO’s dividend payout ratio is currently 49.68%.
SYY has been the topic of a number of recent research reports. Pivotal Research reissued a “sell” rating and set a $54.00 price target on shares of SYSCO in a research note on Friday, February 1st. Zacks Investment Research lowered SYSCO from a “hold” rating to a “sell” rating in a research note on Monday, January 21st. Loop Capital set a $75.00 price target on SYSCO and gave the company a “buy” rating in a research note on Tuesday, February 5th. Finally, Bank of America lowered SYSCO from a “buy” rating to a “neutral” rating and set a $68.00 price target on the stock. in a research note on Wednesday, January 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. SYSCO has a consensus rating of “Hold” and an average target price of $73.00.
In related news, insider Russell T. Libby sold 60,156 shares of SYSCO stock in a transaction that occurred on Thursday, January 31st. The stock was sold at an average price of $63.40, for a total value of $3,813,890.40. Following the transaction, the insider now directly owns 62,597 shares of the company’s stock, valued at $3,968,649.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Trian Fund Management, L.P. sold 707,000 shares of SYSCO stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $66.30, for a total value of $46,874,100.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 789,477 shares of company stock worth $52,157,382. 7.88% of the stock is owned by insiders.
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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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