Rainier Group Investment Advisory LLC acquired a new stake in shares of SYSCO Co. (NYSE:SYY) in the first quarter, HoldingsChannel reports. The fund acquired 2,600 shares of the company’s stock, valued at approximately $156,000.
Several other large investors also recently made changes to their positions in the company. Centaurus Financial Inc. purchased a new stake in shares of SYSCO in the first quarter valued at $129,000. Valeo Financial Advisors LLC lifted its holdings in shares of SYSCO by 98.7% in the fourth quarter. Valeo Financial Advisors LLC now owns 2,267 shares of the company’s stock valued at $138,000 after purchasing an additional 1,126 shares in the last quarter. Bedel Financial Consulting Inc. purchased a new stake in shares of SYSCO in the first quarter valued at $145,000. Centerpoint Advisors LLC purchased a new stake in shares of SYSCO in the first quarter valued at $149,000. Finally, Johnson Financial Group Inc. lifted its holdings in shares of SYSCO by 77.2% in the first quarter. Johnson Financial Group Inc. now owns 3,030 shares of the company’s stock valued at $182,000 after purchasing an additional 1,320 shares in the last quarter. Institutional investors own 80.02% of the company’s stock.
In other news, insider Paul T. Moskowitz sold 30,667 shares of the company’s stock in a transaction on Wednesday, April 18th. The shares were sold at an average price of $62.50, for a total value of $1,916,687.50. Following the transaction, the insider now directly owns 58,329 shares of the company’s stock, valued at $3,645,562.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul T. Moskowitz sold 15,333 shares of the company’s stock in a transaction on Friday, May 25th. The stock was sold at an average price of $65.00, for a total transaction of $996,645.00. Following the completion of the transaction, the insider now directly owns 58,328 shares in the company, valued at $3,791,320. The disclosure for this sale can be found here. Insiders sold 71,333 shares of company stock worth $4,510,995 over the last ninety days. 9.60% of the stock is currently owned by company insiders.
SYSCO (NYSE:SYY) last posted its quarterly earnings results on Monday, May 7th. The company reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.04. SYSCO had a net margin of 2.23% and a return on equity of 64.33%. The business had revenue of $14.35 billion for the quarter, compared to the consensus estimate of $14.32 billion. During the same period in the prior year, the business posted $0.51 earnings per share. SYSCO’s revenue for the quarter was up 6.1% compared to the same quarter last year. analysts predict that SYSCO Co. will post 2.98 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 27th. Stockholders of record on Friday, July 6th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Thursday, July 5th. SYSCO’s dividend payout ratio (DPR) is presently 58.06%.
A number of analysts have recently issued reports on the company. Morgan Stanley restated a “hold” rating and issued a $61.00 target price (down previously from $64.00) on shares of SYSCO in a report on Tuesday, May 8th. Zacks Investment Research upgraded SYSCO from a “sell” rating to a “hold” rating in a report on Wednesday, May 9th. Pivotal Research reduced their target price on SYSCO from $61.00 to $56.00 and set a “buy” rating for the company in a report on Wednesday, May 2nd. Credit Suisse Group assumed coverage on SYSCO in a report on Tuesday, April 17th. They issued an “outperform” rating and a $68.00 target price for the company. Finally, Citigroup increased their target price on SYSCO from $60.00 to $63.00 and gave the company a “neutral” rating in a report on Tuesday, March 27th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $65.64.
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 in the United States, Canada, Bahamas, Mexico, Costa Rica, Panama, the United Kingdom, France, Sweden, Ireland, Belgium, Spain, and Luxembourg.
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