GWM Advisors LLC Buys 1,405 Shares of SYSCO Co. (NYSE:SYY)
GWM Advisors LLC increased its stake in SYSCO Co. (NYSE:SYY) by 10.8% in the 1st quarter, HoldingsChannel reports. The fund owned 14,418 shares of the company’s stock after acquiring an additional 1,405 shares during the period. GWM Advisors LLC’s holdings in SYSCO were worth $963,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SYY. Vanguard Group Inc boosted its holdings in shares of SYSCO by 3.9% in the third quarter. Vanguard Group Inc now owns 41,599,601 shares of the company’s stock valued at $3,047,170,000 after purchasing an additional 1,549,255 shares during the period. BlackRock Inc. boosted its stake in shares of SYSCO by 4.7% during the 4th quarter. BlackRock Inc. now owns 33,625,346 shares of the company’s stock worth $2,106,966,000 after acquiring an additional 1,502,847 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of SYSCO by 18,997.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,960,810 shares of the company’s stock worth $159,000 after acquiring an additional 9,908,653 shares in the last quarter. Parnassus Investments CA boosted its stake in shares of SYSCO by 4.7% during the 1st quarter. Parnassus Investments CA now owns 8,752,593 shares of the company’s stock worth $584,323,000 after acquiring an additional 393,096 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of SYSCO by 8.7% during the 1st quarter. Janus Henderson Group PLC now owns 7,948,553 shares of the company’s stock worth $530,645,000 after acquiring an additional 633,041 shares in the last quarter. Institutional investors own 77.65% of the company’s stock.
NYSE:SYY opened at $72.81 on Friday. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.30 and a quick ratio of 0.79. The company has a market cap of $37.42 billion, a P/E ratio of 23.19, a P/E/G ratio of 2.10 and a beta of 0.55. SYSCO Co. has a fifty-two week low of $59.44 and a fifty-two week high of $75.98.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 5th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.14%. SYSCO’s payout ratio is currently 49.68%.
A number of analysts have commented on the stock. Zacks Investment Research downgraded shares of SYSCO from a “buy” rating to a “hold” rating and set a $75.00 price objective for the company. in a report on Tuesday. JPMorgan Chase & Co. cut their price objective on shares of SYSCO from $77.00 to $75.00 and set an “overweight” rating for the company in a report on Tuesday, June 4th. Loop Capital increased their price objective on shares of SYSCO to $80.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. ValuEngine upgraded shares of SYSCO from a “hold” rating to a “buy” rating in a report on Wednesday, May 29th. Finally, Pivotal Research reiterated a “sell” rating and issued a $58.00 price objective (up previously from $54.00) on shares of SYSCO in a report on Tuesday, May 7th. One 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 company’s stock. SYSCO currently has an average rating of “Hold” and an average price target of $74.21.
SYSCO Company Profile
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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