CAPROCK Group Inc. Takes $611,000 Position in SYSCO Co. (SYY)
CAPROCK Group Inc. acquired a new stake in SYSCO Co. (NYSE:SYY) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 9,898 shares of the company’s stock, valued at approximately $611,000.
A number of other institutional investors have also made changes to their positions in the business. First Personal Financial Services grew its position in shares of SYSCO by 293.2% during the 3rd quarter. First Personal Financial Services now owns 1,962 shares of the company’s stock worth $106,000 after buying an additional 1,463 shares in the last quarter. Acrospire Investment Management LLC grew its position in shares of SYSCO by 84.6% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,400 shares of the company’s stock worth $121,000 after buying an additional 1,100 shares in the last quarter. Manchester Capital Management LLC grew its position in shares of SYSCO by 13.4% during the 2nd quarter. Manchester Capital Management LLC now owns 2,538 shares of the company’s stock worth $128,000 after buying an additional 300 shares in the last quarter. Advisors Asset Management Inc. grew its position in shares of SYSCO by 465.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,783 shares of the company’s stock worth $150,000 after buying an additional 2,291 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC grew its position in shares of SYSCO by 51.9% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 2,926 shares of the company’s stock worth $158,000 after buying an additional 1,000 shares in the last quarter. 80.08% of the stock is currently owned by institutional investors.
Shares of SYSCO Co. (NYSE:SYY) opened at $62.20 on Thursday. The company has a debt-to-equity ratio of 3.77, a quick ratio of 0.88 and a current ratio of 1.40. The firm has a market capitalization of $32,410.00, a price-to-earnings ratio of 28.40, a P/E/G ratio of 2.42 and a beta of 0.53. SYSCO Co. has a 12 month low of $48.85 and a 12 month high of $62.79.
SYSCO (NYSE:SYY) last issued its quarterly earnings data on Monday, November 6th. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.02. The firm had revenue of $14.65 billion during the quarter, compared to analysts’ expectations of $14.43 billion. SYSCO had a return on equity of 58.47% and a net margin of 2.12%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.67 EPS. analysts anticipate that SYSCO Co. will post 2.81 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 5th will be paid a dividend of $0.36 per share. This is a boost from SYSCO’s previous quarterly dividend of $0.33. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Thursday, January 4th. SYSCO’s dividend payout ratio is 65.75%.
In other SYSCO news, EVP Wayne Shurts sold 7,800 shares of the stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $54.86, for a total value of $427,908.00. Following the completion of the sale, the executive vice president now directly owns 58,776 shares in the company, valued at $3,224,451.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO William J. Delaney III sold 150,000 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $54.05, for a total value of $8,107,500.00. Following the completion of the sale, the chief executive officer now owns 526,725 shares of the company’s stock, valued at $28,469,486.25. The disclosure for this sale can be found here. Insiders have sold a total of 291,172 shares of company stock valued at $16,592,605 over the last 90 days. 9.60% of the stock is currently owned by company insiders.
A number of equities analysts have recently issued reports on SYY shares. Zacks Investment Research raised SYSCO from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research report on Tuesday, October 10th. Pivotal Research reissued a “hold” rating and set a $53.00 price target on shares of SYSCO in a research report on Sunday, November 5th. BMO Capital Markets set a $66.00 price target on SYSCO and gave the stock a “buy” rating in a research report on Friday, December 8th. Loop Capital increased their price target on SYSCO to $68.00 and gave the stock a “buy” rating in a research report on Monday, December 11th. Finally, Morgan Stanley raised SYSCO from an “underweight” rating to an “equal weight” rating and set a $64.00 price target on the stock in a research report on Tuesday. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $59.92.
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Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.
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