Capital Planning Advisors LLC Has $410,000 Position in Sysco Co. (SYY)
Capital Planning Advisors LLC lessened its holdings in Sysco Co. (NYSE:SYY) by 11.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,600 shares of the company’s stock after selling 1,000 shares during the period. Capital Planning Advisors LLC’s holdings in Sysco were worth $410,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of SYY. Vanguard Group Inc. grew its position in Sysco by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 38,501,911 shares of the company’s stock worth $1,937,801,000 after purchasing an additional 590,968 shares in the last quarter. BlackRock Inc. grew its position in Sysco by 0.3% in the 2nd quarter. BlackRock Inc. now owns 32,291,082 shares of the company’s stock worth $1,625,211,000 after purchasing an additional 83,464 shares in the last quarter. State Street Corp grew its position in Sysco by 1.0% in the 2nd quarter. State Street Corp now owns 26,707,981 shares of the company’s stock worth $1,344,209,000 after purchasing an additional 272,303 shares in the last quarter. Capital World Investors grew its position in Sysco by 11.7% in the 2nd quarter. Capital World Investors now owns 13,767,000 shares of the company’s stock worth $692,893,000 after purchasing an additional 1,445,000 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in Sysco by 2.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 10,451,813 shares of the company’s stock worth $563,890,000 after purchasing an additional 208,815 shares in the last quarter. Institutional investors own 79.70% of the company’s stock.
Sysco Co. (SYY) traded up $0.25 during trading on Thursday, hitting $54.90. 1,216,400 shares of the stock were exchanged, compared to its average volume of 2,900,031. Sysco Co. has a 1 year low of $48.85 and a 1 year high of $57.23. The company has a market cap of $28,740.00, a P/E ratio of 21.43, a P/E/G ratio of 2.45 and a beta of 0.53. The company has a quick ratio of 0.88, a current ratio of 1.40 and a debt-to-equity ratio of 3.77.
Sysco (NYSE:SYY) last released its earnings results 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 net margin of 2.51% and a return on equity of 63.88%. The firm had revenue of $14.65 billion during the quarter, compared to the consensus estimate of $14.43 billion. During the same period in the prior year, the firm earned $0.67 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. research analysts expect that Sysco Co. will post 2.77 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 5th will be issued a $0.36 dividend. The ex-dividend date is Thursday, January 4th. This is an increase from Sysco’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a yield of 2.62%. Sysco’s dividend payout ratio (DPR) is 60.27%.
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A number of brokerages have issued reports on SYY. Pivotal Research reaffirmed a “hold” rating and issued a $53.00 price objective on shares of Sysco in a research report on Sunday, November 5th. Zacks Investment Research downgraded shares of Sysco from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Sysco in a research report on Tuesday, September 12th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $51.00 price objective on shares of Sysco in a research report on Friday, August 4th. Finally, Royal Bank Of Canada set a $50.00 target price on shares of Sysco and gave the company a “hold” rating in a research report on Friday, August 11th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Sysco has a consensus rating of “Hold” and a consensus target price of $56.42.
In related news, insider Wayne Shurts sold 15,600 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $53.27, for a total value of $831,012.00. Following the completion of the transaction, the insider now directly owns 58,776 shares of the company’s stock, valued at approximately $3,130,997.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Trian Fund Management, L.P. sold 372,314 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $53.09, for a total transaction of $19,766,150.26. Following the completion of the transaction, the director now directly owns 5,529 shares of the company’s stock, valued at $293,534.61. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,222,381 shares of company stock valued at $119,570,516. 9.60% of the stock is owned by insiders.
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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