Moody Lynn & Lieberson LLC Reduces Position in SYSCO Co. (SYY)
Moody Lynn & Lieberson LLC lowered its position in shares of SYSCO Co. (NYSE:SYY) by 24.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 85,250 shares of the company’s stock after selling 27,361 shares during the period. Moody Lynn & Lieberson LLC’s holdings in SYSCO were worth $4,426,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of SYY. Sigma Planning Corp boosted its stake in SYSCO by 0.6% in the third quarter. Sigma Planning Corp now owns 35,650 shares of the company’s stock worth $1,747,000 after buying an additional 220 shares during the period. State Street Corp boosted its stake in SYSCO by 0.3% in the fourth quarter. State Street Corp now owns 26,888,052 shares of the company’s stock worth $1,488,783,000 after buying an additional 70,381 shares during the period. Quadrature Capital Ltd boosted its stake in SYSCO by 167.4% in the fourth quarter. Quadrature Capital Ltd now owns 316,373 shares of the company’s stock worth $17,521,000 after buying an additional 198,042 shares during the period. Martingale Asset Management L P boosted its stake in SYSCO by 2.1% in the fourth quarter. Martingale Asset Management L P now owns 838,597 shares of the company’s stock worth $46,434,000 after buying an additional 17,354 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its stake in SYSCO by 14.3% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,291,001 shares of the company’s stock worth $63,274,000 after buying an additional 161,297 shares during the period. Institutional investors own 77.50% of the company’s stock.
SYSCO Co. (NYSE:SYY) opened at 54.43 on Monday. The company has a market cap of $29.13 billion, a price-to-earnings ratio of 28.69 and a beta of 0.52. The stock has a 50 day moving average price of $53.45 and a 200-day moving average price of $53.50. SYSCO Co. has a 1-year low of $47.15 and a 1-year high of $57.07.
SYSCO (NYSE:SYY) last announced its quarterly earnings results on Monday, May 8th. The company reported $0.51 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.51. SYSCO had a return on equity of 40.85% and a net margin of 1.94%. The firm had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.14 billion. During the same quarter in the previous year, the business earned $0.46 EPS. SYSCO’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, equities research analysts forecast that SYSCO Co. will post $2.47 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Investors of record on Friday, July 7th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $1.32 annualized dividend and a dividend yield of 2.43%. SYSCO’s dividend payout ratio is presently 71.74%.
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A number of analysts recently commented on SYY shares. Deutsche Bank AG reiterated a “hold” rating and set a $55.00 price objective (up previously from $54.00) on shares of SYSCO in a research report on Wednesday, February 8th. Credit Suisse Group AG upgraded SYSCO from a “neutral” rating to an “outperform” rating and set a $59.00 price objective for the company in a research report on Monday, February 6th. BMO Capital Markets set a $56.00 price objective on SYSCO and gave the company a “hold” rating in a research report on Tuesday, February 7th. Royal Bank of Canada reiterated a “sector perform” rating and set a $47.00 price objective on shares of SYSCO in a research report on Thursday, February 2nd. Finally, JPMorgan Chase & Co. upgraded SYSCO from a “neutral” rating to an “overweight” rating and set a $57.00 price objective for the company in a research report on Tuesday, February 7th. One analyst has rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $56.30.
In related news, insider Wayne Shurts sold 15,600 shares of SYSCO stock in a transaction dated Wednesday, April 5th. The stock was sold at an average price of $51.66, for a total value of $805,896.00. Following the completion of the transaction, the insider now owns 43,176 shares in the company, valued at approximately $2,230,472.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Daniel J. Brutto purchased 2,500 shares of the business’s stock in a transaction that occurred on Friday, March 31st. The stock was acquired at an average price of $51.94 per share, with a total value of $129,850.00. Following the purchase, the director now owns 3,968 shares in the company, valued at $206,097.92. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 91,200 shares of company stock valued at $4,837,596. 8.81% of the stock is owned by company insiders.
SYSCO Company Profile
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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