USS Investment Management Ltd lowered its position in shares of SYSCO Co. (NYSE:SYY) by 6.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 151,800 shares of the company’s stock after selling 10,900 shares during the period. USS Investment Management Ltd’s holdings in SYSCO were worth $9,514,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Flagship Harbor Advisors LLC bought a new position in SYSCO during the 2nd quarter worth $121,000. Daiwa SB Investments Ltd. bought a new position in SYSCO during the 3rd quarter worth $132,000. Security National Trust Co. boosted its holdings in shares of SYSCO by 110.0% in the 3rd quarter. Security National Trust Co. now owns 2,100 shares of the company’s stock valued at $154,000 after purchasing an additional 1,100 shares in the last quarter. Cerebellum GP LLC acquired a new stake in shares of SYSCO in the 3rd quarter valued at $181,000. Finally, Strategic Wealth Partners Ltd. boosted its holdings in shares of SYSCO by 17.3% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 2,621 shares of the company’s stock valued at $192,000 after purchasing an additional 386 shares in the last quarter. Institutional investors own 78.91% of the company’s stock.
A number of equities research analysts have weighed in on SYY shares. Buckingham Research started coverage on SYSCO in a report on Monday, October 22nd. They issued a “buy” rating and a $82.00 target price on the stock. Royal Bank of Canada set a $67.00 target price on SYSCO and gave the company a “hold” rating in a report on Friday, November 2nd. Pivotal Research reaffirmed a “sell” rating and issued a $62.00 target price on shares of SYSCO in a report on Friday, November 2nd. ValuEngine downgraded SYSCO from a “buy” rating to a “hold” rating in a report on Tuesday, November 6th. Finally, Loop Capital reduced their target price on SYSCO to $75.00 and set a “buy” rating on the stock in a report on Tuesday, November 6th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, five have issued 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 $73.54.
SYSCO (NYSE:SYY) last released its quarterly earnings data on Monday, November 5th. The company reported $0.91 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.01). SYSCO had a net margin of 2.52% and a return on equity of 68.81%. The firm had revenue of $15.22 billion for the quarter, compared to analyst estimates of $15.39 billion. During the same period last year, the business earned $0.74 EPS. The company’s revenue was up 3.9% compared to the same quarter last year. On average, analysts forecast that SYSCO Co. will post 3.4 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 25th. Investors of record on Friday, January 4th will be issued a dividend of $0.39 per share. This is an increase from SYSCO’s previous quarterly dividend of $0.36. The ex-dividend date is Thursday, January 3rd. This represents a $1.56 annualized dividend and a dividend yield of 2.50%. SYSCO’s dividend payout ratio (DPR) is 49.68%.
In related news, Director Richard G. Tilghman sold 5,000 shares of the firm’s stock in a transaction on Thursday, November 15th. The stock was sold at an average price of $66.17, for a total transaction of $330,850.00. Following the completion of the transaction, the director now directly owns 7,055 shares of the company’s stock, valued at approximately $466,829.35. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Trian Fund Management, L.P. sold 2,215,532 shares of the firm’s stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $66.45, for a total value of $147,222,101.40. Following the transaction, the director now directly owns 7,055 shares of the company’s stock, valued at $468,804.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,750,007 shares of company stock worth $249,273,639. 7.88% of the stock is currently owned by company 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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