Ffcm LLC Purchases 3,696 Shares of SYSCO Co. (SYY)
Ffcm LLC boosted its position in SYSCO Co. (NYSE:SYY) by 23.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,544 shares of the company’s stock after buying an additional 3,696 shares during the quarter. Ffcm LLC’s holdings in SYSCO were worth $1,187,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in SYY. State Street Corp grew its position in shares of SYSCO by 1.0% in the second quarter. State Street Corp now owns 26,707,981 shares of the company’s stock valued at $1,344,209,000 after purchasing an additional 272,303 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of SYSCO by 2.0% in the third quarter. Ameriprise Financial Inc. now owns 10,451,813 shares of the company’s stock valued at $563,890,000 after purchasing an additional 208,815 shares in the last quarter. Parnassus Investments CA grew its position in shares of SYSCO by 1.8% in the fourth quarter. Parnassus Investments CA now owns 7,547,366 shares of the company’s stock valued at $458,352,000 after purchasing an additional 136,965 shares in the last quarter. American Century Companies Inc. grew its position in shares of SYSCO by 7.5% in the fourth quarter. American Century Companies Inc. now owns 6,578,176 shares of the company’s stock valued at $399,493,000 after purchasing an additional 457,259 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in shares of SYSCO by 4.6% in the third quarter. Janus Henderson Group PLC now owns 5,969,351 shares of the company’s stock valued at $322,047,000 after purchasing an additional 261,748 shares in the last quarter. 79.35% of the stock is owned by institutional investors and hedge funds.
SYY has been the subject of several recent research reports. Loop Capital lifted their price target on SYSCO to $68.00 and gave the company a “buy” rating in a research report on Monday, December 11th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $61.00 price target on shares of SYSCO in a research report on Tuesday, February 6th. Zacks Investment Research cut SYSCO from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Pivotal Research reiterated a “hold” rating and issued a $53.00 price target on shares of SYSCO in a research report on Sunday, November 5th. Finally, BMO Capital Markets set a $66.00 price target on SYSCO and gave the company a “buy” rating in a research report on Friday, December 8th. Six equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. SYSCO presently has an average rating of “Buy” and a consensus price target of $65.20.
Shares of SYSCO Co. (NYSE SYY) opened at $58.13 on Tuesday. The stock has a market capitalization of $30,443.52, a price-to-earnings ratio of 22.18, a P/E/G ratio of 1.96 and a beta of 0.56. SYSCO Co. has a 52 week low of $48.85 and a 52 week high of $64.27. The company has a debt-to-equity ratio of 3.66, a quick ratio of 0.85 and a current ratio of 1.38.
SYSCO (NYSE:SYY) last posted its quarterly earnings data on Monday, February 5th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The company had revenue of $14.41 billion during the quarter, compared to analyst estimates of $14.15 billion. SYSCO had a return on equity of 61.02% and a net margin of 2.10%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the company earned $0.58 earnings per share. equities analysts expect that SYSCO Co. will post 2.95 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Friday, January 5th were paid a dividend of $0.36 per share. This is a positive change from SYSCO’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $1.44 annualized dividend and a yield of 2.48%. SYSCO’s dividend payout ratio (DPR) is currently 64.29%.
COPYRIGHT VIOLATION NOTICE: “Ffcm LLC Purchases 3,696 Shares of SYSCO Co. (SYY)” was first reported by Watch List News and is the sole property of of Watch List News. If you are reading this story on another publication, it was copied illegally and reposted in violation of U.S. and international trademark and copyright law. The original version of this story can be read at https://www.watchlistnews.com/ffcm-llc-purchases-3696-shares-of-sysco-co-syy/1863530.html.
SYSCO Company Profile
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.
Want to see what other hedge funds are holding SYY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SYSCO Co. (NYSE:SYY).
Receive News & Ratings for SYSCO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SYSCO and related companies with MarketBeat.com's FREE daily email newsletter.