Usca Ria LLC Has $1.59 Million Position in SYSCO Co. (SYY)
Usca Ria LLC cut its position in shares of SYSCO Co. (NYSE:SYY) by 12.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,296 shares of the company’s stock after selling 3,197 shares during the quarter. Usca Ria LLC’s holdings in SYSCO were worth $1,591,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Sumitomo Life Insurance Co. boosted its holdings in SYSCO by 4.1% during the second quarter. Sumitomo Life Insurance Co. now owns 19,123 shares of the company’s stock worth $1,306,000 after purchasing an additional 758 shares during the last quarter. Eastern Bank boosted its holdings in SYSCO by 0.4% during the second quarter. Eastern Bank now owns 212,281 shares of the company’s stock worth $14,497,000 after purchasing an additional 773 shares during the last quarter. World Asset Management Inc boosted its holdings in SYSCO by 2.1% during the second quarter. World Asset Management Inc now owns 38,744 shares of the company’s stock worth $2,646,000 after purchasing an additional 800 shares during the last quarter. Advisor Partners LLC boosted its holdings in SYSCO by 7.5% during the second quarter. Advisor Partners LLC now owns 11,819 shares of the company’s stock worth $807,000 after purchasing an additional 827 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV boosted its holdings in SYSCO by 41.1% during the second quarter. Creative Financial Designs Inc. ADV now owns 2,893 shares of the company’s stock worth $198,000 after purchasing an additional 843 shares during the last quarter. Institutional investors and hedge funds own 79.15% of the company’s stock.
In other news, insider Paul T. Moskowitz sold 15,333 shares of the business’s stock in a transaction that occurred on Friday, May 25th. The shares were sold at an average price of $65.00, for a total value of $996,645.00. Following the sale, the insider now owns 58,328 shares of the company’s stock, valued at $3,791,320. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Brian R. Todd sold 9,147 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $73.82, for a total transaction of $675,231.54. Following the completion of the sale, the senior vice president now directly owns 11,747 shares in the company, valued at approximately $867,163.54. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,133,781 shares of company stock worth $207,428,536. Corporate insiders own 9.60% of the company’s stock.
SYSCO (NYSE:SYY) last released its earnings results on Monday, August 13th. The company reported $0.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.01. The firm had revenue of $15.32 billion for the quarter, compared to analysts’ expectations of $15.30 billion. SYSCO had a net margin of 2.23% and a return on equity of 64.33%. The company’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.72 earnings per share. research analysts anticipate that SYSCO Co. will post 3.01 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 26th. Shareholders of record on Friday, October 5th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Thursday, October 4th. SYSCO’s payout ratio is 58.06%.
SYY has been the topic of several analyst reports. Argus boosted their price target on shares of SYSCO from $67.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday. Pivotal Research dropped their target price on shares of SYSCO from $61.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, May 2nd. Jefferies Financial Group set a $68.00 target price on shares of SYSCO and gave the company a “hold” rating in a research note on Monday, August 13th. ValuEngine cut shares of SYSCO from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Finally, Zacks Investment Research cut shares of SYSCO from a “hold” rating to a “sell” rating in a research note on Monday, July 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. SYSCO has an average rating of “Hold” and a consensus target price of $72.08.
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 in the United States, Canada, Bahamas, Mexico, Costa Rica, Panama, the United Kingdom, France, Sweden, Ireland, Belgium, Spain, and Luxembourg.
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