Providence Capital Advisors LLC Has $2.03 Million Holdings in SYSCO Co. (SYY)

Providence Capital Advisors LLC raised its stake in SYSCO Co. (NYSE:SYY) by 4.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,425 shares of the company’s stock after acquiring an additional 1,357 shares during the quarter. Providence Capital Advisors LLC’s holdings in SYSCO were worth $2,031,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in SYY. Oregon Public Employees Retirement Fund lifted its holdings in SYSCO by 18,997.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,960,810 shares of the company’s stock valued at $159,000 after acquiring an additional 9,908,653 shares during the period. Norges Bank acquired a new position in SYSCO in the fourth quarter valued at approximately $299,789,000. Vanguard Group Inc lifted its holdings in SYSCO by 3.9% in the third quarter. Vanguard Group Inc now owns 41,599,601 shares of the company’s stock valued at $3,047,170,000 after acquiring an additional 1,549,255 shares during the period. BlackRock Inc. lifted its holdings in SYSCO by 4.7% in the fourth quarter. BlackRock Inc. now owns 33,625,346 shares of the company’s stock valued at $2,106,966,000 after acquiring an additional 1,502,847 shares during the period. Finally, Parnassus Investments CA lifted its holdings in SYSCO by 18.8% in the fourth quarter. Parnassus Investments CA now owns 8,359,497 shares of the company’s stock valued at $523,806,000 after acquiring an additional 1,320,866 shares during the period. 80.61% of the stock is owned by institutional investors.

Shares of SYY stock opened at $75.49 on Wednesday. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.30 and a quick ratio of 0.79. The company has a market cap of $38.51 billion, a PE ratio of 24.04, a price-to-earnings-growth ratio of 2.15 and a beta of 0.55. SYSCO Co. has a 1-year low of $59.44 and a 1-year high of $75.98.

SYSCO (NYSE:SYY) last announced its earnings results on Monday, May 6th. The company reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.09. SYSCO had a return on equity of 73.66% and a net margin of 2.65%. The business had revenue of $14.66 billion during the quarter, compared to the consensus estimate of $14.78 billion. During the same period in the prior year, the company posted $0.67 EPS. The business’s quarterly revenue was up 2.1% on a year-over-year basis. On average, sell-side analysts forecast that SYSCO Co. will post 3.52 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 5th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Thursday, April 4th. SYSCO’s payout ratio is 49.68%.

In related news, Director Trian Fund Management, L.P. sold 707,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $66.30, for a total transaction of $46,874,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.88% of the stock is currently owned by insiders.

A number of research analysts have issued reports on the company. Zacks Investment Research downgraded SYSCO from a “buy” rating to a “hold” rating in a report on Friday, May 17th. Pivotal Research reissued a “sell” rating and issued a $58.00 price target (up from $54.00) on shares of SYSCO in a report on Tuesday, May 7th. Loop Capital upped their target price on SYSCO to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Buckingham Research upped their target price on SYSCO from $82.00 to $84.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Finally, Morgan Stanley upped their target price on SYSCO from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $74.46.

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SYSCO 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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Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

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