Neo Ivy Capital Management Acquires New Position in SYSCO Co. (NYSE:SYY)

Neo Ivy Capital Management bought a new stake in SYSCO Co. (NYSE:SYY) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 459 shares of the company’s stock, valued at approximately $32,000.

Other institutional investors also recently modified their holdings of the company. Krane Funds Advisors LLC acquired a new stake in SYSCO in the second quarter valued at approximately $25,000. SRS Capital Advisors Inc. acquired a new position in shares of SYSCO during the second quarter worth $28,000. Coastal Capital Group Inc. acquired a new position in shares of SYSCO during the second quarter worth $29,000. FinTrust Capital Advisors LLC lifted its holdings in shares of SYSCO by 55.2% during the second quarter. FinTrust Capital Advisors LLC now owns 523 shares of the company’s stock worth $37,000 after purchasing an additional 186 shares during the period. Finally, Cornerstone Advisors Inc. lifted its holdings in shares of SYSCO by 40.4% during the first quarter. Cornerstone Advisors Inc. now owns 577 shares of the company’s stock worth $39,000 after purchasing an additional 166 shares during the period. Hedge funds and other institutional investors own 78.15% of the company’s stock.

In other SYSCO news, Director Hans-Joachim Koerber sold 10,000 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $73.35, for a total transaction of $733,500.00. Following the transaction, the director now owns 52,872 shares in the company, valued at $3,878,161.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John M. Cassaday sold 20,203 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $77.23, for a total transaction of $1,560,277.69. Following the completion of the sale, the director now directly owns 52,785 shares of the company’s stock, valued at $4,076,585.55. The disclosure for this sale can be found here. Insiders own 7.88% of the company’s stock.



SYY has been the topic of several recent analyst reports. Credit Suisse Group boosted their target price on shares of SYSCO from $76.00 to $79.00 and gave the company an “outperform” rating in a report on Tuesday, August 13th. Wells Fargo & Co reaffirmed a “buy” rating on shares of SYSCO in a research note on Monday, August 12th. Consumer Edge initiated coverage on shares of SYSCO in a research note on Wednesday, July 17th. They issued an “underweight” rating and a $71.75 price target for the company. JPMorgan Chase & Co. lifted their price target on shares of SYSCO from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Finally, ValuEngine raised shares of SYSCO from a “hold” rating to a “buy” rating in a research report on Wednesday, May 29th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $73.60.

Shares of SYSCO stock opened at $78.77 on Wednesday. The firm has a market cap of $40.15 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 2.17 and a beta of 0.47. The company has a debt-to-equity ratio of 3.25, a current ratio of 1.33 and a quick ratio of 0.81. SYSCO Co. has a 1 year low of $59.44 and a 1 year high of $79.33. The company has a 50-day moving average of $74.47 and a 200 day moving average of $71.35.

SYSCO (NYSE:SYY) last posted its quarterly earnings data on Monday, August 12th. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.03. The company had revenue of $15.47 billion for the quarter, compared to the consensus estimate of $15.65 billion. SYSCO had a net margin of 2.79% and a return on equity of 76.80%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.94 earnings per share. On average, equities analysts anticipate that SYSCO Co. will post 3.81 EPS for the current year.

The business 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 1.98%. The ex-dividend date is Thursday, October 3rd. SYSCO’s dividend payout ratio (DPR) is presently 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.

Further Reading: Trade War

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Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

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