Burney Co. grew its holdings in SYSCO Co. (NYSE:SYY) by 1.7% in the 1st quarter, HoldingsChannel reports. The fund owned 17,095 shares of the company’s stock after purchasing an additional 278 shares during the quarter. Burney Co.’s holdings in SYSCO were worth $1,141,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Security National Trust Co. boosted its position in shares of SYSCO by 6.4% during the first quarter. Security National Trust Co. now owns 2,500 shares of the company’s stock worth $167,000 after buying an additional 150 shares during the period. LVM Capital Management Ltd. MI boosted its position in SYSCO by 1.4% during the first quarter. LVM Capital Management Ltd. MI now owns 11,284 shares of the company’s stock valued at $753,000 after purchasing an additional 155 shares during the last quarter. Whittier Trust Co. boosted its position in SYSCO by 1.1% during the fourth quarter. Whittier Trust Co. now owns 14,950 shares of the company’s stock valued at $936,000 after purchasing an additional 160 shares during the last quarter. Cable Hill Partners LLC boosted its position in SYSCO by 11.8% during the first quarter. Cable Hill Partners LLC now owns 1,520 shares of the company’s stock valued at $101,000 after purchasing an additional 161 shares during the last quarter. Finally, Cornerstone Advisors Inc. boosted its position in SYSCO by 40.4% during the first quarter. Cornerstone Advisors Inc. now owns 577 shares of the company’s stock valued at $39,000 after purchasing an additional 166 shares during the last quarter. Institutional investors own 77.65% of the company’s stock.
Several research analysts recently commented on the company. Morgan Stanley increased their price target on SYSCO from $69.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 7th. Zacks Investment Research cut SYSCO from a “buy” rating to a “hold” rating in a research report on Thursday, April 11th. Loop Capital increased their price target on SYSCO to $80.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. ValuEngine raised SYSCO from a “hold” rating to a “buy” rating in a research report on Wednesday, May 29th. Finally, Pivotal Research reissued a “sell” rating and set a $58.00 price target (up from $54.00) on shares of SYSCO in a research report on Tuesday, May 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $74.21.
SYSCO (NYSE:SYY) last released its quarterly earnings data on Monday, May 6th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.09. SYSCO had a return on equity of 73.66% and a net margin of 2.65%. The company had revenue of $14.66 billion during the quarter, compared to analysts’ expectations of $14.78 billion. During the same period last year, the firm posted $0.67 earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. As a group, equities research analysts anticipate that SYSCO Co. will post 3.5 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be paid a dividend of $0.39 per share. The ex-dividend date is Wednesday, July 3rd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.14%. SYSCO’s dividend payout ratio (DPR) is currently 49.68%.
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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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