SeaBridge Investment Advisors LLC Acquires 1,132 Shares of Sysco Co. (NYSE:SYY)

SeaBridge Investment Advisors LLC boosted its holdings in shares of Sysco Co. (NYSE:SYY) by 3.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 32,928 shares of the company’s stock after buying an additional 1,132 shares during the period. SeaBridge Investment Advisors LLC’s holdings in Sysco were worth $2,560,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of SYY. Wagner Wealth Management LLC bought a new stake in Sysco during the first quarter valued at $39,000. Harbour Investments Inc. bought a new stake in Sysco during the first quarter worth about $40,000. Hexagon Capital Partners LLC lifted its stake in Sysco by 68.9% during the first quarter. Hexagon Capital Partners LLC now owns 620 shares of the company’s stock worth $48,000 after purchasing an additional 253 shares during the last quarter. Berman Capital Advisors LLC lifted its stake in Sysco by 34.2% during the first quarter. Berman Capital Advisors LLC now owns 686 shares of the company’s stock worth $53,000 after purchasing an additional 175 shares during the last quarter. Finally, tru Independence LLC bought a new stake in Sysco during the second quarter worth about $59,000. 79.81% of the stock is owned by institutional investors.

In related news, EVP Greg D. Bertrand sold 7,230 shares of the business’s stock in a transaction dated Friday, August 27th. The stock was sold at an average price of $80.00, for a total transaction of $578,400.00. Following the transaction, the executive vice president now owns 32,238 shares in the company, valued at approximately $2,579,040. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.17% of the stock is owned by insiders.

Several equities research analysts have issued reports on the company. Barclays lifted their price target on Sysco from $80.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Friday, May 21st. UBS Group assumed coverage on Sysco in a research note on Thursday, July 29th. They set a “buy” rating and a $89.00 price target for the company. Finally, Morgan Stanley lifted their price target on Sysco from $88.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Monday, May 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, Sysco has an average rating of “Hold” and a consensus target price of $85.78.

Shares of NYSE SYY traded down $0.43 during midday trading on Wednesday, reaching $75.35. The company had a trading volume of 23,543 shares, compared to its average volume of 2,299,862. Sysco Co. has a one year low of $53.85 and a one year high of $86.73. The company has a quick ratio of 0.96, a current ratio of 1.47 and a debt-to-equity ratio of 6.82. The firm’s fifty day moving average price is $75.77 and its 200-day moving average price is $78.77. The stock has a market cap of $38.59 billion, a PE ratio of 75.03, a price-to-earnings-growth ratio of 2.44 and a beta of 1.45.

Sysco (NYSE:SYY) last released its earnings results on Monday, August 9th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.11. Sysco had a return on equity of 52.19% and a net margin of 1.02%. The company had revenue of $16.14 billion during the quarter, compared to analyst estimates of $14.65 billion. During the same quarter in the previous year, the company posted ($0.29) EPS. Sysco’s revenue for the quarter was up 82.0% on a year-over-year basis. As a group, equities research analysts expect that Sysco Co. will post 3.49 EPS for the current year.

The firm also recently declared a dividend, which will be paid on Thursday, September 30th. Investors of record on Thursday, September 16th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Wednesday, September 15th. This represents a yield of 2.4%. Sysco’s dividend payout ratio is presently 130.56%.

Sysco Profile

Sysco Corp. engages in selling, marketing, and distribution of food products to restaurants, healthcare and educational facilities, and lodging establishments. It operates through the following segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other. The U.S. Foodservice Operations consists of U.S.

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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