Gulf International Bank UK Ltd reduced its position in Sysco Co. (NYSE:SYY) by 0.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 98,864 shares of the company’s stock after selling 150 shares during the period. Gulf International Bank UK Ltd’s holdings in Sysco were worth $7,686,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Wagner Wealth Management LLC purchased a new stake in shares of Sysco during the 1st quarter valued at $39,000. Harbour Investments Inc. purchased a new stake in shares of Sysco during the 1st quarter valued at $40,000. Hexagon Capital Partners LLC grew its stake in shares of Sysco by 68.9% during the 1st quarter. Hexagon Capital Partners LLC now owns 620 shares of the company’s stock valued at $48,000 after buying an additional 253 shares during the period. Berman Capital Advisors LLC grew its stake in shares of Sysco by 34.2% during the 1st quarter. Berman Capital Advisors LLC now owns 686 shares of the company’s stock valued at $53,000 after buying an additional 175 shares during the period. Finally, tru Independence LLC purchased a new stake in shares of Sysco during the 2nd quarter valued at $59,000. 79.81% of the stock is owned by hedge funds and other institutional investors.
Several analysts have recently issued reports on the stock. Barclays boosted their price objective on shares of Sysco from $80.00 to $83.00 and gave the company an “equal weight” rating in a research note on Friday, May 21st. Morgan Stanley boosted their price objective on shares of Sysco from $88.00 to $89.00 and gave the company an “equal weight” rating in a research note on Monday, May 24th. Finally, UBS Group began coverage on shares of Sysco in a research report on Thursday, July 29th. They set a “buy” rating and a $89.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, Sysco currently has a consensus rating of “Hold” and an average price target of $85.78.
Shares of SYY stock opened at $75.78 on Wednesday. Sysco Co. has a 12 month low of $53.85 and a 12 month high of $86.73. The company has a debt-to-equity ratio of 6.82, a current ratio of 1.47 and a quick ratio of 0.96. The firm has a market capitalization of $38.81 billion, a P/E ratio of 75.03, a P/E/G ratio of 2.44 and a beta of 1.45. The company’s fifty day moving average price is $75.77 and its two-hundred day moving average price is $78.77.
Sysco (NYSE:SYY) last issued its quarterly earnings data on Monday, August 9th. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.11. Sysco had a net margin of 1.02% and a return on equity of 52.19%. The firm had revenue of $16.14 billion for the quarter, compared to analyst estimates of $14.65 billion. During the same quarter in the previous year, the business posted ($0.29) EPS. The firm’s revenue was up 82.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Sysco Co. will post 3.49 EPS for the current year.
The company also recently disclosed a dividend, which will be paid on Thursday, September 30th. Shareholders of record on Thursday, September 16th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Wednesday, September 15th. This represents a yield of 2.4%. Sysco’s dividend payout ratio is currently 130.56%.
Sysco Company Profile
Sysco Corp. engages in selling, marketing, and distribution of food products to restaurants, healthcare and educational facilities, and lodging establishments. It operates through the following segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other. The U.S. Foodservice Operations consists of U.S.
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