Andra AP fonden Acquires Shares of 112,100 SYSCO Co. (NYSE:SYY)
Andra AP fonden acquired a new stake in SYSCO Co. (NYSE:SYY) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 112,100 shares of the company’s stock, valued at approximately $7,484,000.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Sontag Advisory LLC purchased a new stake in SYSCO during the 4th quarter worth approximately $25,000. Advisors Preferred LLC purchased a new stake in SYSCO during the 1st quarter worth approximately $26,000. Athena Capital Advisors LLC purchased a new stake in SYSCO during the 4th quarter worth approximately $29,000. Valley National Advisers Inc. grew its position in SYSCO by 60.5% during the 4th quarter. Valley National Advisers Inc. now owns 472 shares of the company’s stock worth $30,000 after purchasing an additional 178 shares during the last quarter. Finally, Murphy Pohlad Asset Management LLC purchased a new stake in SYSCO during the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 77.65% of the company’s stock.
SYY has been the topic of several research analyst reports. Zacks Investment Research downgraded shares of SYSCO from a “buy” rating to a “hold” rating in a research report on Friday, May 17th. Pivotal Research reissued a “sell” rating and set a $58.00 target price (up previously from $54.00) on shares of SYSCO in a research report on Tuesday, May 7th. Buckingham Research boosted their target price on shares of SYSCO from $82.00 to $84.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. JPMorgan Chase & Co. dropped their target price on shares of SYSCO from $77.00 to $75.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 4th. Finally, Morgan Stanley boosted their target price on shares of SYSCO from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $74.21.
SYSCO (NYSE:SYY) last released its quarterly earnings data on Monday, May 6th. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.70 by $0.09. The business had revenue of $14.66 billion for the quarter, compared to the consensus estimate of $14.78 billion. SYSCO had a net margin of 2.65% and a return on equity of 73.66%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.67 EPS. On average, research analysts expect that SYSCO Co. will post 3.5 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 2.14%. The ex-dividend date is Wednesday, July 3rd. SYSCO’s dividend payout ratio (DPR) is currently 49.68%.
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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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