QS Investors LLC lessened its position in SYSCO Co. (NYSE:SYY) by 1.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,453 shares of the company’s stock after selling 921 shares during the period. QS Investors LLC’s holdings in SYSCO were worth $3,413,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Focused Wealth Management Inc grew its position in shares of SYSCO by 244.1% in the 4th quarter. Focused Wealth Management Inc now owns 468 shares of the company’s stock valued at $29,000 after acquiring an additional 332 shares during the period. Athena Capital Advisors LLC acquired a new stake in shares of SYSCO during the 4th quarter worth about $29,000. Murphy Pohlad Asset Management LLC acquired a new stake in shares of SYSCO during the 4th quarter worth about $31,000. Semmax Financial Advisors Inc. acquired a new stake in shares of SYSCO during the 4th quarter worth about $31,000. Finally, Prime Capital Investment Advisors LLC acquired a new stake in shares of SYSCO during the 4th quarter worth about $41,000. 79.38% of the stock is owned by institutional investors.
SYY has been the subject of a number of research reports. Zacks Investment Research upgraded shares of SYSCO from a “sell” rating to a “hold” rating in a research note on Thursday, November 22nd. Loop Capital set a $75.00 target price on shares of SYSCO and gave the stock a “buy” rating in a research note on Friday, December 14th. Bank of America cut shares of SYSCO from a “buy” rating to a “neutral” rating and set a $68.00 target price for the company. in a research note on Wednesday, January 16th. Finally, Pivotal Research restated a “sell” rating and set a $54.00 target price on shares of SYSCO in a research note on Friday, February 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $72.92.
SYSCO (NYSE:SYY) last issued its quarterly earnings data on Monday, February 4th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.03. SYSCO had a net margin of 2.48% and a return on equity of 71.45%. The business had revenue of $14.80 billion during the quarter, compared to analysts’ expectations of $14.75 billion. During the same quarter in the previous year, the company earned $0.78 EPS. The business’s revenue was up 2.8% on a year-over-year basis. As a group, equities research analysts expect that SYSCO Co. will post 3.4 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 5th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Thursday, April 4th. SYSCO’s dividend payout ratio (DPR) is 49.68%.
In other news, EVP Robert S. Charlton sold 22,321 shares of the business’s stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $65.83, for a total value of $1,469,391.43. Following the completion of the transaction, the executive vice president now directly owns 61,460 shares in the company, valued at approximately $4,045,911.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Trian Fund Management, L.P. sold 707,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $66.30, for a total transaction of $46,874,100.00. The disclosure for this sale can be found here. Insiders sold a total of 789,477 shares of company stock valued at $52,157,382 in the last quarter. Corporate insiders own 7.88% of the company’s stock.
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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