Altavista Wealth Management Inc. cut its stake in SYSCO Co. (NYSE:SYY) by 7.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,517 shares of the company’s stock after selling 900 shares during the quarter. Altavista Wealth Management Inc.’s holdings in SYSCO were worth $914,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in SYY. Krane Funds Advisors LLC bought a new stake in SYSCO in the 2nd quarter valued at $25,000. SRS Capital Advisors Inc. bought a new stake in SYSCO in the 2nd quarter valued at $28,000. Coastal Capital Group Inc. bought a new stake in SYSCO in the 2nd quarter valued at $29,000. Usca Ria LLC bought a new stake in SYSCO in the 3rd quarter valued at $35,000. Finally, Neo Ivy Capital Management bought a new stake in SYSCO in the 2nd quarter valued at $32,000. 78.79% of the stock is owned by institutional investors.
In other news, EVP Robert S. Charlton sold 28,948 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $80.43, for a total transaction of $2,328,287.64. Following the completion of the transaction, the executive vice president now directly owns 46,087 shares in the company, valued at $3,706,777.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Brian R. Todd sold 14,706 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $78.99, for a total value of $1,161,626.94. Following the transaction, the senior vice president now owns 30,273 shares of the company’s stock, valued at $2,391,264.27. The disclosure for this sale can be found here. Insiders have sold 201,225 shares of company stock worth $15,952,778 over the last three months. Insiders own 5.24% of the company’s stock.
Shares of SYY traded up $0.69 during trading hours on Wednesday, hitting $81.99. 2,225,382 shares of the company were exchanged, compared to its average volume of 2,701,208. The firm’s fifty day moving average is $80.11 and its 200 day moving average is $75.19. The company has a market cap of $41.10 billion, a price-to-earnings ratio of 23.10, a P/E/G ratio of 2.25 and a beta of 0.47. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 3.74. SYSCO Co. has a fifty-two week low of $59.44 and a fifty-two week high of $82.00.
SYSCO (NYSE:SYY) last released its quarterly earnings data on Monday, November 4th. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.01. SYSCO had a return on equity of 79.60% and a net margin of 2.82%. The business had revenue of $15.30 billion for the quarter, compared to analyst estimates of $15.53 billion. During the same period last year, the firm posted $0.91 earnings per share. SYSCO’s revenue was up .6% compared to the same quarter last year. Analysts anticipate that SYSCO Co. will post 3.82 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.20%. This is a positive change from SYSCO’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Thursday, January 2nd. SYSCO’s dividend payout ratio (DPR) is presently 43.94%.
Several research analysts have weighed in on SYY shares. JPMorgan Chase & Co. increased their price objective on SYSCO from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Credit Suisse Group increased their price objective on SYSCO from $76.00 to $79.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 13th. BMO Capital Markets increased their price objective on SYSCO to $88.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Barclays increased their price objective on SYSCO from $70.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 13th. Finally, Bank of America increased their target price on SYSCO from $76.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $76.80.
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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