Berkshire Asset Management LLC PA Has $2.92 Million Stake in SYSCO Co. (SYY)

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Berkshire Asset Management LLC PA decreased its position in SYSCO Co. (NYSE:SYY) by 3.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 39,885 shares of the company’s stock after selling 1,356 shares during the quarter. Berkshire Asset Management LLC PA’s holdings in SYSCO were worth $2,922,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SYY. Blue Chip Partners Inc. acquired a new position in SYSCO during the 2nd quarter worth about $104,000. Quad Cities Investment Group LLC acquired a new position in SYSCO during the 2nd quarter worth about $111,000. Flagship Harbor Advisors LLC acquired a new position in SYSCO during the 2nd quarter worth about $121,000. Private Capital Group LLC lifted its position in SYSCO by 970.2% during the 1st quarter. Private Capital Group LLC now owns 2,044 shares of the company’s stock worth $123,000 after buying an additional 1,853 shares in the last quarter. Finally, Fort L.P. acquired a new position in SYSCO during the 2nd quarter worth about $123,000. 80.22% of the stock is currently owned by institutional investors and hedge funds.

SYSCO stock opened at $68.82 on Friday. The company has a debt-to-equity ratio of 3.01, a quick ratio of 0.74 and a current ratio of 1.21. SYSCO Co. has a 1 year low of $52.30 and a 1 year high of $75.98. The stock has a market cap of $38.07 billion, a price-to-earnings ratio of 21.92, a price-to-earnings-growth ratio of 1.98 and a beta of 0.56.

SYSCO (NYSE:SYY) last released its earnings results on Monday, August 13th. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.01. SYSCO had a net margin of 2.44% and a return on equity of 68.15%. The company had revenue of $15.32 billion for the quarter, compared to the consensus estimate of $15.30 billion. During the same period in the prior year, the company posted $0.72 EPS. The company’s revenue was up 6.2% compared to the same quarter last year. On average, analysts forecast that SYSCO Co. will post 3.49 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 26th. Shareholders of record on Friday, October 5th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $1.44 dividend on an annualized basis and a yield of 2.09%. SYSCO’s payout ratio is presently 45.86%.

In other SYSCO news, Director Richard G. Tilghman sold 5,000 shares of the company’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $73.71, for a total transaction of $368,550.00. Following the transaction, the director now directly owns 61,137 shares in the company, valued at approximately $4,506,408.27. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Joshua D. Frank sold 1,013,666 shares of the company’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $75.09, for a total transaction of $76,116,179.94. Following the transaction, the director now owns 4,005 shares in the company, valued at $300,735.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,969,811 shares of company stock worth $297,380,043. Corporate insiders own 9.60% of the company’s stock.

Several research analysts recently issued reports on the stock. Pivotal Research upped their price target on shares of SYSCO from $58.00 to $62.00 and gave the stock a “sell” rating in a research report on Saturday, August 18th. Loop Capital upped their price target on shares of SYSCO to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, August 14th. Argus upped their price target on shares of SYSCO from $67.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, August 16th. BMO Capital Markets upped their price target on shares of SYSCO from $74.00 to $81.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 14th. Finally, Morgan Stanley upped their price target on shares of SYSCO from $67.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 14th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $72.42.

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. 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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Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

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