Kiwi Wealth Investments Limited Partnership bought a new position in shares of SYSCO Co. (NYSE:SYY) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 26,434 shares of the company’s stock, valued at approximately $1,656,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. ERTS Wealth Advisors LLC purchased a new position in shares of SYSCO in the 4th quarter valued at approximately $72,000. LMR Partners LLP purchased a new position in shares of SYSCO in the 4th quarter valued at approximately $866,000. Semmax Financial Advisors Inc. purchased a new position in shares of SYSCO in the 4th quarter valued at approximately $31,000. Thoroughbred Financial Services LLC purchased a new position in shares of SYSCO in the 4th quarter valued at approximately $754,000. Finally, Geode Capital Management LLC grew its stake in shares of SYSCO by 20.5% in the 4th quarter. Geode Capital Management LLC now owns 6,331,895 shares of the company’s stock valued at $396,070,000 after purchasing an additional 1,076,459 shares during the last quarter. 79.38% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Russell T. Libby sold 60,156 shares of the company’s stock in a transaction dated Thursday, January 31st. The stock was sold at an average price of $63.40, for a total value of $3,813,890.40. Following the completion of the sale, the insider now owns 62,597 shares of the company’s stock, valued at $3,968,649.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert S. Charlton sold 22,321 shares of the company’s stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $65.83, for a total value of $1,469,391.43. Following the completion of the sale, the executive vice president now directly owns 61,460 shares of the company’s stock, valued at approximately $4,045,911.80. The disclosure for this sale can be found here. Corporate insiders own 7.88% of the company’s stock.
SYSCO (NYSE:SYY) last released its quarterly earnings results on Monday, February 4th. The company reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.03. SYSCO had a return on equity of 71.45% and a net margin of 2.48%. The company had revenue of $14.80 billion during the quarter, compared to analysts’ expectations of $14.75 billion. During the same period in the previous year, the firm posted $0.78 earnings per share. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, analysts anticipate that SYSCO Co. will post 3.4 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 5th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $1.56 annualized dividend and a yield of 2.36%. SYSCO’s payout ratio is currently 49.68%.
Several research analysts have weighed in on SYY shares. Loop Capital set a $75.00 target price on SYSCO and gave the company a “buy” rating in a research note on Friday, December 14th. Zacks Investment Research upgraded SYSCO from a “sell” rating to a “hold” rating in a research note on Wednesday, February 6th. Bank of America downgraded SYSCO from a “buy” rating to a “neutral” rating and set a $68.00 price target on the stock. in a research note on Wednesday, January 16th. Finally, Pivotal Research restated a “sell” rating and issued a $54.00 price target on shares of SYSCO in a research note on Friday, February 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $72.92.
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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