Waldron Private Wealth LLC Has $365,000 Stock Position in SYSCO Co. (NYSE:SYY)
Waldron Private Wealth LLC reduced its position in SYSCO Co. (NYSE:SYY) by 10.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 5,163 shares of the company’s stock after selling 616 shares during the period. Waldron Private Wealth LLC’s holdings in SYSCO were worth $365,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of the stock. Advisors Preferred LLC acquired a new stake in SYSCO during the first quarter worth approximately $26,000. Coastal Capital Group Inc. acquired a new stake in SYSCO during the second quarter worth approximately $29,000. Lenox Wealth Management Inc. lifted its position in SYSCO by 163.7% during the first quarter. Lenox Wealth Management Inc. now owns 480 shares of the company’s stock worth $32,000 after acquiring an additional 298 shares during the last quarter. WP Advisors LLC acquired a new stake in SYSCO during the first quarter worth approximately $39,000. Finally, Cornerstone Advisors Inc. lifted its position in SYSCO by 40.4% during the first quarter. Cornerstone Advisors Inc. now owns 577 shares of the company’s stock worth $39,000 after acquiring an additional 166 shares during the last quarter. Institutional investors and hedge funds own 78.30% of the company’s stock.
Shares of NYSE SYY traded up $0.93 during midday trading on Wednesday, reaching $73.12. The company’s stock had a trading volume of 697,385 shares, compared to its average volume of 2,775,469. The company has a current ratio of 1.30, a quick ratio of 0.79 and a debt-to-equity ratio of 3.44. SYSCO Co. has a fifty-two week low of $59.44 and a fifty-two week high of $75.98. The stock’s 50 day moving average price is $70.85. The firm has a market cap of $35.97 billion, a P/E ratio of 23.29, a P/E/G ratio of 1.87 and a beta of 0.52.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be given a $0.39 dividend. The ex-dividend date is Thursday, October 3rd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.13%. SYSCO’s payout ratio is 49.68%.
SYY has been the subject of several research reports. Credit Suisse Group raised their price objective on shares of SYSCO from $76.00 to $79.00 and gave the stock an “outperform” rating in a research report on Tuesday. 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 research report on Tuesday, June 11th. Consumer Edge initiated coverage on shares of SYSCO in a research report on Wednesday, July 17th. They set an “underweight” rating and a $71.75 price objective for the company. Loop Capital raised their price objective on shares of SYSCO to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Finally, Pivotal Research restated a “sell” rating and set a $58.00 price objective (up from $54.00) on shares of SYSCO in a research report on Tuesday, May 7th. Two analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $74.48.
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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