IFG Advisory LLC acquired a new stake in SYSCO Co. (NYSE:SYY) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 19,076 shares of the company’s stock, valued at approximately $485,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Comerica Securities Inc. grew its position in shares of SYSCO by 67.8% during the 2nd quarter. Comerica Securities Inc. now owns 58,436 shares of the company’s stock worth $2,941,000 after buying an additional 23,608 shares during the period. KCM Investment Advisors LLC grew its position in SYSCO by 5.8% in the 2nd quarter. KCM Investment Advisors LLC now owns 15,716 shares of the company’s stock valued at $791,000 after purchasing an additional 855 shares during the period. Bahl & Gaynor Inc. grew its position in SYSCO by 17.0% in the 2nd quarter. Bahl & Gaynor Inc. now owns 81,988 shares of the company’s stock valued at $4,539,000 after purchasing an additional 11,928 shares during the period. BlackRock Inc. grew its position in SYSCO by 0.3% in the 2nd quarter. BlackRock Inc. now owns 32,291,082 shares of the company’s stock valued at $1,625,211,000 after purchasing an additional 83,464 shares during the period. Finally, Vision Capital Management Inc. grew its position in SYSCO by 23.4% in the 2nd quarter. Vision Capital Management Inc. now owns 72,015 shares of the company’s stock valued at $3,625,000 after purchasing an additional 13,672 shares during the period. Institutional investors and hedge funds own 79.35% of the company’s stock.
Shares of SYSCO Co. (NYSE SYY) opened at $58.35 on Thursday. The company has a debt-to-equity ratio of 3.66, a current ratio of 1.38 and a quick ratio of 0.85. SYSCO Co. has a 12-month low of $48.85 and a 12-month high of $64.27. The firm has a market capitalization of $30,490.49, a P/E ratio of 22.21, a price-to-earnings-growth ratio of 1.96 and a beta of 0.56.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 26th. Shareholders of record on Friday, January 5th were issued a $0.36 dividend. This is an increase from SYSCO’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $1.44 dividend on an annualized basis and a yield of 2.47%. SYSCO’s dividend payout ratio is 64.29%.
In other SYSCO news, SVP Greg D. Bertrand sold 81,038 shares of the stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $60.76, for a total value of $4,923,868.88. Following the completion of the transaction, the senior vice president now owns 69,721 shares in the company, valued at $4,236,247.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP William W. Goetz sold 11,323 shares of the stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $62.00, for a total value of $702,026.00. Following the completion of the sale, the senior vice president now directly owns 35,825 shares in the company, valued at $2,221,150. The disclosure for this sale can be found here. In the last quarter, insiders sold 144,695 shares of company stock valued at $8,759,223. 9.60% of the stock is owned by corporate insiders.
A number of research firms have issued reports on SYY. Loop Capital lifted their price objective on shares of SYSCO from $68.00 to $72.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Pivotal Research boosted their price objective on SYSCO from $53.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, December 12th. Morgan Stanley upgraded SYSCO from an “underweight” rating to an “equal weight” rating and set a $64.00 price target on the stock in a research report on Tuesday, January 16th. Zacks Investment Research upgraded SYSCO from a “hold” rating to a “strong-buy” rating and set a $71.00 price target on the stock in a research report on Wednesday, January 10th. Finally, BMO Capital Markets set a $66.00 price target on SYSCO and gave the company a “buy” rating in a research report on Friday, December 8th. Six research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $65.20.
Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.
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