Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of Sysco Co. (NYSE:SYY) by 9.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,481 shares of the company’s stock after purchasing an additional 1,566 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Sysco were worth $1,150,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Knuff & Co LLC bought a new position in Sysco during the third quarter worth about $25,000. Berman Capital Advisors LLC lifted its stake in Sysco by 102.2% during the third quarter. Berman Capital Advisors LLC now owns 544 shares of the company’s stock worth $33,000 after purchasing an additional 275 shares during the period. Weaver Consulting Group lifted its stake in Sysco by 92.9% during the third quarter. Weaver Consulting Group now owns 623 shares of the company’s stock worth $39,000 after purchasing an additional 300 shares during the period. Shine Investment Advisory Services Inc. lifted its stake in Sysco by 369.9% during the second quarter. Shine Investment Advisory Services Inc. now owns 874 shares of the company’s stock worth $48,000 after purchasing an additional 688 shares during the period. Finally, Parkside Financial Bank & Trust lifted its stake in Sysco by 84.0% during the second quarter. Parkside Financial Bank & Trust now owns 874 shares of the company’s stock worth $48,000 after purchasing an additional 399 shares during the period. Hedge funds and other institutional investors own 79.58% of the company’s stock.
SYY stock opened at $70.00 on Friday. The company has a debt-to-equity ratio of 11.14, a current ratio of 1.84 and a quick ratio of 1.38. The company has a 50 day moving average price of $64.76 and a 200 day moving average price of $58.70. Sysco Co. has a fifty-two week low of $26.00 and a fifty-two week high of $85.98. The stock has a market capitalization of $35.66 billion, a PE ratio of 184.22, a price-to-earnings-growth ratio of 3.25 and a beta of 1.20.
Sysco (NYSE:SYY) last posted its quarterly earnings data on Sunday, November 8th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.09. Sysco had a net margin of 0.41% and a return on equity of 50.53%. The firm had revenue of $11.78 billion during the quarter, compared to analysts’ expectations of $12.06 billion. During the same quarter in the previous year, the company posted $0.98 EPS. Sysco’s revenue was down 23.0% on a year-over-year basis. As a group, equities analysts expect that Sysco Co. will post 1.8 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 29th. Investors of record on Friday, January 8th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.57%. Sysco’s dividend payout ratio (DPR) is presently 89.55%.
In other Sysco news, Director Nancy Newcomb sold 10,000 shares of Sysco stock in a transaction on Wednesday, September 2nd. The shares were 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 of the company’s stock, valued at approximately $3,735,891.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Trian Fund Management, L.P. sold 1,752,163 shares of Sysco stock in a transaction on Thursday, November 19th. The stock was sold at an average price of $72.42, for a total transaction of $126,891,644.46. Insiders have sold a total of 1,763,297 shares of company stock valued at $127,561,160 in the last ninety days. Company insiders own 5.17% of the company’s stock.
A number of research analysts have commented on SYY shares. ValuEngine upgraded shares of Sysco from a “hold” rating to a “buy” rating in a research note on Friday, October 23rd. Zacks Investment Research upgraded shares of Sysco from a “sell” rating to a “hold” rating and set a $75.00 target price for the company in a research note on Tuesday, November 10th. Morgan Stanley lifted their target price on shares of Sysco from $66.00 to $69.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 4th. Consumer Edge upgraded shares of Sysco from an “underweight” rating to an “equal weight” rating in a research note on Wednesday, November 4th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $75.00 target price (up previously from $64.00) on shares of Sysco in a research note on Wednesday, November 11th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Sysco has an average rating of “Buy” and a consensus price target of $76.22.
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 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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