Puzo Michael J acquired a new position in SYSCO Co. (NYSE:SYY) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,600 shares of the company’s stock, valued at approximately $466,000.
A number of other hedge funds have also recently made changes to their positions in the stock. Gulf International Bank UK Ltd grew its position in shares of SYSCO by 1.3% during the 1st quarter. Gulf International Bank UK Ltd now owns 119,346 shares of the company’s stock worth $7,967,000 after buying an additional 1,566 shares during the period. Gofen & Glossberg LLC IL acquired a new position in shares of SYSCO during the 1st quarter worth about $304,000. Horizon Investments LLC acquired a new position in shares of SYSCO during the 1st quarter worth about $237,000. Pinnacle Associates Ltd. grew its position in shares of SYSCO by 7.9% during the 1st quarter. Pinnacle Associates Ltd. now owns 4,750 shares of the company’s stock worth $317,000 after buying an additional 346 shares during the period. Finally, Calamos Advisors LLC grew its position in shares of SYSCO by 1.0% during the 1st quarter. Calamos Advisors LLC now owns 99,546 shares of the company’s stock worth $6,646,000 after buying an additional 974 shares during the period. Hedge funds and other institutional investors own 77.71% of the company’s stock.
Shares of NYSE:SYY traded down $1.05 during trading on Monday, hitting $67.85. 123,194 shares of the company’s stock traded hands, compared to its average volume of 2,240,312. SYSCO Co. has a 52 week low of $59.44 and a 52 week high of $75.98. The company has a current ratio of 1.30, a quick ratio of 0.79 and a debt-to-equity ratio of 3.44. The firm has a market cap of $35.41 billion, a P/E ratio of 21.63, a price-to-earnings-growth ratio of 1.84 and a beta of 0.52. The firm has a 50-day simple moving average of $71.15.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Thursday, October 3rd. SYSCO’s dividend payout ratio (DPR) is presently 49.68%.
SYY has been the subject of several analyst reports. Pivotal Research restated a “sell” rating and set a $58.00 target price (up from $54.00) on shares of SYSCO in a research report on Tuesday, May 7th. Zacks Investment Research lowered SYSCO from a “buy” rating to a “hold” rating and set a $75.00 target price for the company. in a research report on Tuesday, June 11th. Morgan Stanley boosted their target price on SYSCO from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 7th. JPMorgan Chase & Co. decreased their target price on SYSCO from $77.00 to $75.00 and set an “overweight” rating for the company in a research report on Tuesday, June 4th. Finally, Loop Capital boosted their target price on SYSCO to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $73.63.
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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