Cetera Advisor Networks LLC lessened its stake in Sysco Corporation (NYSE:SYY) by 15.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 17,121 shares of the company’s stock after selling 3,067 shares during the quarter. Cetera Advisor Networks LLC’s holdings in Sysco were worth $927,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in SYY. First Personal Financial Services lifted its stake in Sysco by 293.2% during the third quarter. First Personal Financial Services now owns 1,962 shares of the company’s stock worth $106,000 after purchasing an additional 1,463 shares during the last quarter. Arcadia Investment Management Corp MI lifted its stake in Sysco by 10.7% during the second quarter. Arcadia Investment Management Corp MI now owns 2,336 shares of the company’s stock worth $118,000 after purchasing an additional 225 shares during the last quarter. Acrospire Investment Management LLC lifted its stake in Sysco by 84.6% during the second quarter. Acrospire Investment Management LLC now owns 2,400 shares of the company’s stock worth $121,000 after purchasing an additional 1,100 shares during the last quarter. Manchester Capital Management LLC lifted its stake in Sysco by 13.4% during the second quarter. Manchester Capital Management LLC now owns 2,538 shares of the company’s stock worth $128,000 after purchasing an additional 300 shares during the last quarter. Finally, Kistler Tiffany Companies LLC lifted its stake in Sysco by 0.4% during the second quarter. Kistler Tiffany Companies LLC now owns 2,915 shares of the company’s stock worth $147,000 after purchasing an additional 12 shares during the last quarter. Institutional investors and hedge funds own 80.22% of the company’s stock.
Several equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Sysco from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Tuesday, October 10th. BMO Capital Markets set a $66.00 target price on Sysco and gave the stock a “buy” rating in a research note on Friday, December 8th. Pivotal Research boosted their target price on Sysco from $53.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Loop Capital boosted their target price on Sysco to $68.00 and gave the stock a “buy” rating in a research note on Monday. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Sysco presently has an average rating of “Buy” and a consensus target price of $58.55.
Shares of Sysco Corporation (NYSE SYY) traded down $0.72 during midday trading on Friday, reaching $60.90. The company’s stock had a trading volume of 3,086,500 shares, compared to its average volume of 2,901,728. The company has a debt-to-equity ratio of 3.77, a quick ratio of 0.88 and a current ratio of 1.40. Sysco Corporation has a one year low of $48.85 and a one year high of $62.79. The stock has a market capitalization of $32,107.49, a PE ratio of 24.17, a P/E/G ratio of 2.64 and a beta of 0.54.
Sysco (NYSE:SYY) last issued its quarterly earnings data on Monday, November 6th. The company reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.02. Sysco had a return on equity of 58.47% and a net margin of 2.12%. The company had revenue of $14.65 billion during the quarter, compared to analysts’ expectations of $14.43 billion. During the same quarter in the previous year, the business earned $0.67 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. equities analysts predict that Sysco Corporation will post 2.78 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, January 5th will be paid a $0.36 dividend. The ex-dividend date is Thursday, January 4th. This represents a $1.44 dividend on an annualized basis and a yield of 2.36%. This is a boost from Sysco’s previous quarterly dividend of $0.33. Sysco’s payout ratio is currently 60.00%.
In other Sysco news, insider Paul T. Moskowitz sold 16,667 shares of the business’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $54.12, for a total value of $902,018.04. Following the completion of the sale, the insider now owns 61,936 shares in the company, valued at $3,351,976.32. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Wayne Shurts sold 7,800 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $54.86, for a total value of $427,908.00. Following the completion of the sale, the executive vice president now owns 58,776 shares of the company’s stock, valued at approximately $3,224,451.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,820,067 shares of company stock valued at $98,262,450. 9.60% of the stock is owned by company 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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