Cypress Wealth Services LLC Purchases New Position in SYSCO Co. (SYY)
Cypress Wealth Services LLC purchased a new stake in SYSCO Co. (NYSE:SYY) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,334 shares of the company’s stock, valued at approximately $202,000.
A number of other hedge funds also recently bought and sold shares of SYY. First Personal Financial Services boosted its stake 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 acquiring an additional 1,463 shares during the period. Advisors Asset Management Inc. boosted its stake 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 acquiring an additional 2,291 shares during the period. Thompson Siegel & Walmsley LLC boosted its stake 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 acquiring an additional 1,000 shares during the period. Sun Life Financial INC boosted its stake in shares of SYSCO by 25,571.4% during the 2nd quarter. Sun Life Financial INC now owns 3,594 shares of the company’s stock worth $181,000 after acquiring an additional 3,580 shares during the period. Finally, Scott & Selber Inc. bought a new position in shares of SYSCO during the 4th quarter worth approximately $200,000. Hedge funds and other institutional investors own 80.09% of the company’s stock.
Several brokerages have recently commented on SYY. Loop Capital lifted their target price on SYSCO from $68.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Pivotal Research lifted their target price on SYSCO from $53.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Morgan Stanley upgraded SYSCO from an “underweight” rating to an “equal weight” rating and set a $64.00 target price for the company in a research note on Tuesday, January 16th. Zacks Investment Research upgraded SYSCO from a “hold” rating to a “strong-buy” rating and set a $71.00 target price for the company in a research note on Wednesday, January 10th. Finally, BMO Capital Markets set a $66.00 target price on SYSCO and gave the stock a “buy” rating in a research note on Friday, December 8th. Six equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $65.20.
SYSCO (NYSE:SYY) last released its quarterly earnings results on Monday, February 5th. The company reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The business had revenue of $14.41 billion during the quarter, compared to analysts’ expectations of $14.15 billion. SYSCO had a return on equity of 61.02% and a net margin of 2.10%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the firm posted $0.58 EPS. analysts predict that SYSCO Co. will post 2.95 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Friday, January 5th were issued 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 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend was Thursday, January 4th. SYSCO’s dividend payout ratio (DPR) is presently 64.57%.
In related news, CEO William J. Delaney III sold 150,000 shares of SYSCO stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $54.05, for a total transaction of $8,107,500.00. Following the completion of the sale, the chief executive officer now directly owns 526,725 shares of the company’s stock, valued at approximately $28,469,486.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP William W. Goetz sold 11,323 shares of SYSCO stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $62.00, for a total value of $702,026.00. Following the sale, the senior vice president now directly owns 35,825 shares of the company’s stock, valued at $2,221,150. The disclosure for this sale can be found here. Over the last three months, insiders have sold 294,695 shares of company stock valued at $16,866,723. 9.60% of the stock is currently owned by insiders.
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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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