Ellenbecker Investment Group cut its stake in shares of SYSCO Co. (NYSE:SYY) by 0.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,700 shares of the company’s stock after selling 150 shares during the quarter. SYSCO makes up approximately 0.8% of Ellenbecker Investment Group’s portfolio, making the stock its 15th biggest position. Ellenbecker Investment Group’s holdings in SYSCO were worth $1,248,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund lifted its stake in shares of SYSCO by 18,997.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,960,810 shares of the company’s stock valued at $159,000 after purchasing an additional 9,908,653 shares during the period. Norges Bank acquired a new position in shares of SYSCO in the 4th quarter valued at about $299,789,000. Vanguard Group Inc lifted its stake in shares of SYSCO by 3.9% in the 3rd quarter. Vanguard Group Inc now owns 41,599,601 shares of the company’s stock valued at $3,047,170,000 after purchasing an additional 1,549,255 shares during the period. Vanguard Group Inc. lifted its stake in shares of SYSCO by 3.9% in the 3rd quarter. Vanguard Group Inc. now owns 41,599,601 shares of the company’s stock valued at $3,047,170,000 after purchasing an additional 1,549,255 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of SYSCO by 342.2% in the 3rd quarter. Renaissance Technologies LLC now owns 1,977,518 shares of the company’s stock valued at $144,853,000 after purchasing an additional 1,530,318 shares during the period. 80.26% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently commented on the company. Zacks Investment Research lowered SYSCO from a “buy” rating to a “hold” rating in a research report on Thursday, April 11th. Bank of America lowered SYSCO from a “buy” rating to a “neutral” rating and set a $68.00 target price for the company. in a research report on Wednesday, January 16th. Loop Capital set a $75.00 price objective on SYSCO and gave the stock a “buy” rating in a report on Tuesday, February 5th. Finally, Pivotal Research reissued a “sell” rating and set a $54.00 price objective on shares of SYSCO in a report on Friday, February 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $73.00.
SYSCO (NYSE:SYY) last posted its earnings results on Monday, February 4th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.03. The firm had revenue of $14.80 billion for the quarter, compared to the consensus estimate of $14.75 billion. SYSCO had a return on equity of 71.45% and a net margin of 2.48%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.78 earnings per share. On average, analysts predict that SYSCO Co. will post 3.4 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 5th were given a dividend of $0.39 per share. The ex-dividend date was Thursday, April 4th. This represents a $1.56 annualized dividend and a dividend yield of 2.26%. SYSCO’s dividend payout ratio is currently 49.68%.
In other news, Director Trian Fund Management, L.P. sold 707,000 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $66.30, for a total value of $46,874,100.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Robert S. Charlton sold 22,321 shares of the company’s stock in a transaction on Monday, February 4th. The stock was sold at an average price of $65.83, for a total transaction of $1,469,391.43. Following the completion of the transaction, the executive vice president now directly owns 61,460 shares in the company, valued at approximately $4,045,911.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 789,477 shares of company stock worth $52,157,382. Company insiders own 7.88% of the company’s stock.
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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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