Sigma Planning Corp raised its holdings in SYSCO Co. (NYSE:SYY) by 7.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,382 shares of the company’s stock after buying an additional 3,054 shares during the period. Sigma Planning Corp’s holdings in SYSCO were worth $3,280,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Advisors Preferred LLC purchased a new position in SYSCO in the 1st quarter valued at approximately $26,000. Coastal Capital Group Inc. purchased a new position in SYSCO in the 2nd quarter valued at approximately $29,000. Lenox Wealth Management Inc. boosted its position in SYSCO by 163.7% in the 1st quarter. Lenox Wealth Management Inc. now owns 480 shares of the company’s stock valued at $32,000 after buying an additional 298 shares during the period. Cornerstone Advisors Inc. boosted its position in SYSCO by 40.4% in the 1st quarter. Cornerstone Advisors Inc. now owns 577 shares of the company’s stock valued at $39,000 after buying an additional 166 shares during the period. Finally, Meridian Wealth Management LLC purchased a new position in SYSCO in the 2nd quarter valued at approximately $44,000. 78.30% of the stock is owned by institutional investors.
Several equities analysts have commented on the stock. JPMorgan Chase & Co. raised their price target on shares of SYSCO from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday. Buckingham Research lifted their price objective on shares of SYSCO from $82.00 to $84.00 and gave the stock a “buy” rating in a research report on Tuesday, May 7th. ValuEngine raised shares of SYSCO from a “hold” rating to a “buy” rating in a research report on Wednesday, May 29th. Morgan Stanley lifted their price objective on shares of SYSCO from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 7th. Finally, Consumer Edge started 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. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $74.48.
SYSCO (NYSE:SYY) last announced its quarterly earnings results on Monday, August 12th. The company reported $1.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.03. The firm had revenue of $15.47 billion for the quarter, compared to analyst estimates of $15.65 billion. SYSCO had a net margin of 2.79% and a return on equity of 76.80%. SYSCO’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period last year, the business earned $0.94 EPS. As a group, equities research analysts expect that SYSCO Co. will post 3.81 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Thursday, October 3rd. SYSCO’s payout ratio is 43.94%.
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. 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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