Mitchell Capital Management Co. increased its holdings in shares of Sysco Co. (NYSE:SYY) by 7.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,925 shares of the company’s stock after purchasing an additional 1,587 shares during the period. Mitchell Capital Management Co.’s holdings in Sysco were worth $1,705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of the stock. Geneos Wealth Management Inc. increased its stake in Sysco by 2.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 6,953 shares of the company’s stock worth $589,000 after buying an additional 134 shares during the period. SeaBridge Investment Advisors LLC increased its stake in Sysco by 0.4% during the 1st quarter. SeaBridge Investment Advisors LLC now owns 31,796 shares of the company’s stock worth $2,504,000 after buying an additional 140 shares during the period. Octavia Wealth Advisors LLC increased its stake in Sysco by 2.0% during the 1st quarter. Octavia Wealth Advisors LLC now owns 7,310 shares of the company’s stock worth $579,000 after buying an additional 142 shares during the period. Tower Bridge Advisors increased its stake in Sysco by 2.0% during the 1st quarter. Tower Bridge Advisors now owns 7,650 shares of the company’s stock worth $602,000 after buying an additional 150 shares during the period. Finally, Crew Capital Management Ltd. increased its stake in Sysco by 5.7% during the 2nd quarter. Crew Capital Management Ltd. now owns 2,823 shares of the company’s stock worth $219,000 after buying an additional 151 shares during the period. 79.81% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on the stock. UBS Group assumed coverage on shares of Sysco in a research report on Thursday, July 29th. They issued a “buy” rating and a $89.00 price objective on the stock. Barclays upped their target price on shares of Sysco from $80.00 to $83.00 and gave the company an “equal weight” rating in a report on Friday, May 21st. Finally, Morgan Stanley raised their target price on shares of Sysco from $88.00 to $89.00 and gave the stock an “equal weight” rating in a research note on Monday, May 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Sysco has a consensus rating of “Hold” and an average price target of $85.78.
NYSE:SYY opened at $75.78 on Wednesday. The company has a current ratio of 1.47, a quick ratio of 0.96 and a debt-to-equity ratio of 6.82. The firm has a 50-day moving average price of $75.77 and a two-hundred day moving average price of $78.77. Sysco Co. has a twelve month low of $53.85 and a twelve month high of $86.73. The company has a market capitalization of $38.81 billion, a P/E ratio of 75.03, a price-to-earnings-growth ratio of 2.44 and a beta of 1.45.
Sysco (NYSE:SYY) last posted its earnings results on Monday, August 9th. The company reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 during the quarter, compared to the consensus estimate of $14.65 billion. During the same period last year, the firm posted ($0.29) EPS. The firm’s revenue for the quarter was up 82.0% on a year-over-year basis. On average, equities research analysts predict that Sysco Co. will post 3.49 earnings per share for the current year.
The business also recently announced a dividend, which will be paid on Thursday, September 30th. Investors of record on Thursday, September 16th will be given a $0.47 dividend. The ex-dividend date is Wednesday, September 15th. This represents a dividend yield of 2.4%. Sysco’s dividend payout ratio is presently 130.56%.
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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