OPSEU Pension Plan Trust Fund increased its stake in Sysco Co. (NYSE:SYY) by 5.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,872 shares of the company’s stock after purchasing an additional 1,337 shares during the period. OPSEU Pension Plan Trust Fund’s holdings in Sysco were worth $1,548,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the stock. National Asset Management Inc. increased its position in shares of Sysco by 79.7% in the third quarter. National Asset Management Inc. now owns 13,799 shares of the company’s stock worth $846,000 after purchasing an additional 6,122 shares during the last quarter. Boyar Asset Management Inc. increased its position in shares of Sysco by 0.8% in the third quarter. Boyar Asset Management Inc. now owns 25,326 shares of the company’s stock worth $1,576,000 after purchasing an additional 204 shares during the last quarter. Investment Partners LTD. bought a new position in shares of Sysco in the third quarter worth approximately $206,000. LPL Financial LLC increased its position in shares of Sysco by 2.6% in the third quarter. LPL Financial LLC now owns 207,111 shares of the company’s stock worth $12,886,000 after purchasing an additional 5,272 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its position in shares of Sysco by 0.8% in the third quarter. State Board of Administration of Florida Retirement System now owns 703,932 shares of the company’s stock worth $43,799,000 after purchasing an additional 5,790 shares during the last quarter. Institutional investors own 79.58% of the company’s stock.
Several research firms recently weighed in on SYY. Piper Sandler restated an “overweight” rating and issued a $75.00 price objective (up from $64.00) on shares of Sysco in a research report on Wednesday, November 11th. JPMorgan Chase & Co. boosted their price objective on shares of Sysco from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, October 20th. Edward Jones raised shares of Sysco from a “hold” rating to a “buy” rating in a report on Thursday, September 10th. BMO Capital Markets upgraded shares of Sysco from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $60.00 to $88.00 in a research report on Tuesday, November 10th. Finally, Morgan Stanley boosted their price target on shares of Sysco from $66.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 4th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $76.22.
Shares of NYSE:SYY traded down $0.63 during midday trading on Tuesday, hitting $74.34. 33,362 shares of the stock traded hands, compared to its average volume of 4,223,671. The stock has a market capitalization of $38.19 billion, a PE ratio of 194.95, a P/E/G ratio of 3.25 and a beta of 1.20. The business’s 50 day moving average is $63.85 and its two-hundred day moving average is $58.34. The company has a quick ratio of 1.38, a current ratio of 1.84 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.
Sysco (NYSE:SYY) last issued its quarterly earnings data on Sunday, November 8th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.25 by $0.09. The firm had revenue of $11.78 billion during the quarter, compared to the consensus estimate of $12.06 billion. Sysco had a net margin of 0.41% and a return on equity of 50.53%. The company’s quarterly revenue was down 23.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 earnings per share. As a group, sell-side analysts forecast that Sysco Co. will post 1.8 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 23rd. Investors of record on Friday, October 2nd were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date was Thursday, October 1st. Sysco’s payout ratio is currently 89.55%.
In other Sysco news, EVP Greg D. Bertrand sold 1,134 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $57.95, for a total value of $65,715.30. Following the sale, the executive vice president now owns 38,403 shares in the company, valued at $2,225,453.85. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Nancy Newcomb sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $60.38, for a total transaction of $603,800.00. Following the completion of the sale, the director now owns 61,873 shares in the company, valued at approximately $3,735,891.74. The disclosure for this sale can be found here. 5.17% of the stock is owned by corporate insiders.
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, the United Kingdom, France, and internationally. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other.
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