SYSCO Co. (NYSE:SYY) is AI Financial Services LLC’s 4th Largest Position
AI Financial Services LLC boosted its position in SYSCO Co. (NYSE:SYY) by 1.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,819 shares of the company’s stock after buying an additional 411 shares during the quarter. SYSCO makes up about 4.8% of AI Financial Services LLC’s holdings, making the stock its 4th largest position. AI Financial Services LLC’s holdings in SYSCO were worth $3,241,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in SYY. Krane Funds Advisors LLC bought a new position in shares of SYSCO in the second quarter worth $25,000. SRS Capital Advisors Inc. bought a new position in shares of SYSCO in the second quarter worth $28,000. Coastal Capital Group Inc. bought a new position in shares of SYSCO in the second quarter worth $29,000. Neo Ivy Capital Management bought a new position in shares of SYSCO in the second quarter worth $32,000. Finally, FinTrust Capital Advisors LLC boosted its holdings in shares of SYSCO by 55.2% in the second quarter. FinTrust Capital Advisors LLC now owns 523 shares of the company’s stock worth $37,000 after acquiring an additional 186 shares during the period. 78.15% of the stock is owned by institutional investors and hedge funds.
In other SYSCO news, SVP Brian R. Todd sold 14,706 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $78.99, for a total transaction of $1,161,626.94. Following the sale, the senior vice president now owns 30,273 shares in the company, valued at $2,391,264.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Paul T. Moskowitz sold 33,600 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $78.83, for a total value of $2,648,688.00. Following the sale, the executive vice president now owns 87,268 shares in the company, valued at approximately $6,879,336.44. The disclosure for this sale can be found here. Insiders have sold 78,509 shares of company stock worth $6,104,093 in the last 90 days. Company insiders own 5.24% of the company’s stock.
SYSCO (NYSE:SYY) last posted its quarterly earnings data on Monday, August 12th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.03. SYSCO had a return on equity of 76.80% and a net margin of 2.79%. The company had revenue of $15.47 billion during the quarter, compared to analyst estimates of $15.65 billion. During the same quarter last year, the company earned $0.94 earnings per share. The firm’s quarterly revenue was up 1.0% on a year-over-year basis. On average, analysts expect that SYSCO Co. will post 3.81 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 4th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.56 dividend on an annualized basis and a yield of 1.99%. SYSCO’s payout ratio is 43.94%.
SYY has been the subject of a number of analyst reports. Barclays raised their price target on SYSCO from $70.00 to $71.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 13th. Zacks Investment Research lowered SYSCO from a “buy” rating to a “hold” rating and set a $75.00 price objective for the company. in a research note on Tuesday, June 11th. Wells Fargo & Co reissued a “buy” rating on shares of SYSCO in a research note on Monday, August 12th. Consumer Edge began coverage on SYSCO in a research note on Wednesday, July 17th. They set an “underweight” rating and a $71.75 price objective for the company. Finally, Bank of America lifted their price objective on SYSCO from $76.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $74.52.
Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.
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