Toth Financial Advisory Corp decreased its stake in SYSCO Co. (NYSE:SYY) by 2.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 118,158 shares of the company’s stock after selling 3,389 shares during the quarter. SYSCO comprises 1.4% of Toth Financial Advisory Corp’s portfolio, making the stock its 17th biggest holding. Toth Financial Advisory Corp’s holdings in SYSCO were worth $7,352,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in SYY. Balentine LLC purchased a new position in shares of SYSCO in the 1st quarter worth approximately $31,000. Financial Management Professionals Inc. bought a new stake in shares of SYSCO during the 2nd quarter worth approximately $32,000. FinTrust Capital Advisors LLC lifted its stake in shares of SYSCO by 105.2% during the 1st quarter. FinTrust Capital Advisors LLC now owns 1,028 shares of the company’s stock worth $47,000 after acquiring an additional 527 shares during the last quarter. Shine Investment Advisory Services Inc. lifted its stake in shares of SYSCO by 369.9% during the 2nd quarter. Shine Investment Advisory Services Inc. now owns 874 shares of the company’s stock worth $48,000 after acquiring an additional 688 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in shares of SYSCO by 84.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 874 shares of the company’s stock worth $48,000 after acquiring an additional 399 shares during the last quarter. Hedge funds and other institutional investors own 79.58% of the company’s stock.
In related news, Director Nancy Newcomb sold 10,000 shares of the business’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $60.38, for a total transaction of $603,800.00. Following the transaction, the director now directly owns 61,873 shares in the company, valued at approximately $3,735,891.74. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Greg D. Bertrand sold 1,134 shares of the business’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $57.95, for a total value of $65,715.30. Following the transaction, the executive vice president now owns 38,403 shares in the company, valued at $2,225,453.85. The disclosure for this sale can be found here. Insiders own 5.24% of the company’s stock.
Shares of SYY traded down $0.80 during trading hours on Friday, hitting $65.78. The company had a trading volume of 2,620,694 shares, compared to its average volume of 4,318,470. The company has a market capitalization of $33.49 billion, a PE ratio of 173.11, a price-to-earnings-growth ratio of 3.04 and a beta of 1.23. The company has a current ratio of 1.84, a quick ratio of 1.38 and a debt-to-equity ratio of 11.14. SYSCO Co. has a one year low of $26.00 and a one year high of $85.98. The company’s fifty day moving average price is $63.45 and its two-hundred day moving average price is $55.98.
SYSCO (NYSE:SYY) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.29) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.30) by $0.01. The firm had revenue of $8.87 billion during the quarter, compared to analyst estimates of $10.12 billion. SYSCO had a return on equity of 50.53% and a net margin of 0.41%. The business’s revenue for the quarter was down 42.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.10 EPS. Analysts forecast that SYSCO Co. will post 1.86 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 23rd. Stockholders of record on Friday, October 2nd will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Thursday, October 1st. SYSCO’s payout ratio is 89.55%.
A number of equities research analysts recently issued reports on SYY shares. Piper Sandler reissued a “buy” rating and set a $64.00 price target on shares of SYSCO in a research note on Wednesday, July 1st. JPMorgan Chase & Co. raised their price target on SYSCO from $54.00 to $57.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. BMO Capital Markets raised their price target on SYSCO from $51.00 to $60.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 12th. Morgan Stanley initiated coverage on SYSCO in a research report on Tuesday, September 29th. They set an “equal weight” rating and a $66.00 target price for the company. Finally, Wolfe Research initiated coverage on SYSCO in a research report on Wednesday, September 23rd. They set a “market perform” rating for the company. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. SYSCO presently has an average rating of “Buy” and a consensus target price of $70.90.
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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