Marco Investment Management LLC boosted its position in SYSCO Co. (NYSE:SYY) by 9.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,300 shares of the company’s stock after buying an additional 2,000 shares during the quarter. Marco Investment Management LLC’s holdings in SYSCO were worth $1,415,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in SYY. Valeo Financial Advisors LLC raised its position in SYSCO by 98.7% in the 4th quarter. Valeo Financial Advisors LLC now owns 2,267 shares of the company’s stock valued at $138,000 after buying an additional 1,126 shares during the last quarter. Advisors Asset Management Inc. raised its position in SYSCO by 465.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,783 shares of the company’s stock valued at $150,000 after buying an additional 2,291 shares during the last quarter. Thompson Siegel & Walmsley LLC raised its position in SYSCO by 51.9% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 2,926 shares of the company’s stock valued at $158,000 after buying an additional 1,000 shares during the last quarter. Trustcore Financial Services LLC acquired a new stake in SYSCO in the 4th quarter valued at approximately $194,000. Finally, Premia Global Advisors LLC acquired a new stake in SYSCO in the 4th quarter valued at approximately $195,000. 79.02% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on the company. Loop Capital lifted their target price on SYSCO from $68.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Pivotal Research raised their price target on SYSCO from $53.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, December 12th. Morgan Stanley upgraded SYSCO from an “underweight” rating to an “equal weight” rating and set a $64.00 price target for the company in a research note on Tuesday, January 16th. Zacks Investment Research upgraded SYSCO from a “hold” rating to a “strong-buy” rating and set a $71.00 price target for the company in a research note on Wednesday, January 10th. Finally, BMO Capital Markets set a $66.00 price target on SYSCO and gave the company a “buy” rating in a research note on Friday, December 8th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $65.20.
SYSCO (NYSE:SYY) last released its quarterly earnings results on Monday, February 5th. The company reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The business had revenue of $14.41 billion during the quarter, compared to analysts’ expectations of $14.15 billion. SYSCO had a return on equity of 61.02% and a net margin of 2.10%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the firm posted $0.58 EPS. research analysts anticipate that SYSCO Co. will post 2.95 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Friday, April 6th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, April 5th. This represents a $1.44 annualized dividend and a yield of 2.39%. SYSCO’s payout ratio is currently 64.29%.
In other SYSCO news, Director Richard G. Tilghman sold 5,000 shares of SYSCO stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $59.80, for a total value of $299,000.00. Following the completion of the transaction, the director now directly owns 90,552 shares of the company’s stock, valued at approximately $5,415,009.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP William W. Goetz sold 11,323 shares of SYSCO stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $62.00, for a total value of $702,026.00. Following the completion of the transaction, the senior vice president now directly owns 35,825 shares of the company’s stock, valued at $2,221,150. The disclosure for this sale can be found here. Over the last three months, insiders have sold 164,704 shares of company stock valued at $10,012,748. 9.60% of the stock is currently owned by insiders.
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Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.
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