148,312 Shares in SYSCO Co. (NYSE:SYY) Purchased by Sicart Associates LLC

Share on StockTwits

Sicart Associates LLC bought a new position in SYSCO Co. (NYSE:SYY) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 148,312 shares of the company’s stock, valued at approximately $8,107,000. SYSCO comprises 2.6% of Sicart Associates LLC’s portfolio, making the stock its 11th largest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. TFG Advisers LLC acquired a new stake in shares of SYSCO in the 4th quarter worth about $34,000. Financial Management Professionals Inc. bought a new stake in SYSCO in the 2nd quarter worth about $32,000. Westside Investment Management Inc. bought a new stake in SYSCO in the 1st quarter worth about $29,000. Balentine LLC bought a new stake in SYSCO in the 1st quarter worth about $31,000. Finally, Key Financial Inc bought a new stake in SYSCO in the 1st quarter worth about $34,000. Institutional investors own 79.35% of the company’s stock.

NYSE SYY traded down $0.74 during trading hours on Friday, reaching $52.85. 3,070,070 shares of the company’s stock traded hands, compared to its average volume of 2,432,736. SYSCO Co. has a 52-week low of $26.00 and a 52-week high of $85.98. The firm has a market cap of $26.83 billion, a PE ratio of 20.10, a PEG ratio of 2.14 and a beta of 1.12. The firm has a 50-day simple moving average of $54.03 and a 200 day simple moving average of $58.98. The company has a debt-to-equity ratio of 5.21, a current ratio of 1.49 and a quick ratio of 0.93.

SYSCO (NYSE:SYY) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.08). SYSCO had a net margin of 2.30% and a return on equity of 73.70%. The business had revenue of $13.70 billion for the quarter, compared to analysts’ expectations of $14.04 billion. During the same period last year, the business earned $0.79 earnings per share. The company’s revenue was down 6.5% on a year-over-year basis. Sell-side analysts forecast that SYSCO Co. will post 1.97 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, July 24th. Shareholders of record on Thursday, July 2nd were issued a $0.45 dividend. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a $1.80 annualized dividend and a yield of 3.41%. SYSCO’s dividend payout ratio (DPR) is presently 50.70%.

A number of equities research analysts have issued reports on the stock. Wells Fargo & Co raised shares of SYSCO from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $50.00 to $70.00 in a research report on Friday, June 5th. Zacks Investment Research downgraded shares of SYSCO from a “hold” rating to a “sell” rating and set a $62.00 target price for the company. in a research report on Saturday, May 2nd. Jefferies Financial Group dropped their price target on shares of SYSCO from $66.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Credit Suisse Group dropped their price target on shares of SYSCO from $67.00 to $63.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 6th. Finally, Piper Sandler reiterated a “buy” rating and issued a $64.00 target price on shares of SYSCO in a research note on Wednesday, July 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $69.36.

In other news, Director Trian Fund Management, L.P. bought 703,700 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was acquired at an average cost of $51.38 per share, with a total value of $36,156,106.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joshua D. Frank bought 600,000 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was purchased at an average cost of $47.42 per share, with a total value of $28,452,000.00. The disclosure for this purchase can be found here. 5.24% of the stock is currently owned by insiders.

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.

Featured Story: How to use beta for portfolio diversification

Want to see what other hedge funds are holding SYY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SYSCO Co. (NYSE:SYY).

Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

Receive News & Ratings for SYSCO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SYSCO and related companies with MarketBeat.com's FREE daily email newsletter.