Lau Associates LLC decreased its position in shares of SYSCO Co. (NYSE:SYY) by 7.2% in the first quarter, Holdings Channel reports. The fund owned 5,276 shares of the company’s stock after selling 408 shares during the period. Lau Associates LLC’s holdings in SYSCO were worth $352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently added to or reduced their stakes in the company. Legal & General Group Plc boosted its position in SYSCO by 4.3% during the third quarter. Legal & General Group Plc now owns 2,511,027 shares of the company’s stock valued at $183,937,000 after purchasing an additional 102,970 shares in the last quarter. Morgan Stanley boosted its position in SYSCO by 26.0% during the third quarter. Morgan Stanley now owns 4,910,163 shares of the company’s stock valued at $359,669,000 after purchasing an additional 1,013,430 shares in the last quarter. Federated Investors Inc. PA boosted its position in SYSCO by 3,924.0% during the third quarter. Federated Investors Inc. PA now owns 721,254 shares of the company’s stock valued at $52,831,000 after purchasing an additional 703,330 shares in the last quarter. Vanguard Group Inc boosted its position in SYSCO by 3.9% during the third 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 in the last quarter. Finally, Cerebellum GP LLC boosted its position in SYSCO by 53.6% during the fourth quarter. Cerebellum GP LLC now owns 3,798 shares of the company’s stock valued at $238,000 after purchasing an additional 1,325 shares in the last quarter. 80.35% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE SYY opened at $73.99 on Monday. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.30 and a quick ratio of 0.76. The stock has a market capitalization of $37.80 billion, a price-to-earnings ratio of 23.56, a price-to-earnings-growth ratio of 2.12 and a beta of 0.55. SYSCO Co. has a fifty-two week low of $59.44 and a fifty-two week high of $75.98.
The firm also recently declared a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 5th were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 2.11%. The ex-dividend date was Thursday, April 4th. SYSCO’s dividend payout ratio is presently 49.68%.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research raised SYSCO from a “hold” rating to a “buy” rating and set a $79.00 price objective on the stock in a research report on Tuesday, May 7th. Pivotal Research reaffirmed a “sell” rating and set a $58.00 price objective (up previously from $54.00) on shares of SYSCO in a research report on Tuesday, May 7th. Buckingham Research raised their price objective on SYSCO from $82.00 to $84.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Morgan Stanley raised their price objective on SYSCO from $69.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 7th. Finally, Loop Capital raised their price objective on SYSCO to $80.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. SYSCO currently has a consensus rating of “Hold” and a consensus target price of $74.46.
In other SYSCO news, Director Trian Fund Management, L.P. sold 707,000 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $66.30, for a total value of $46,874,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 7.88% of the stock is currently owned by company insiders.
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SYSCO Company Profile
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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