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.
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.
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