FORA Capital LLC lessened its position in Sysco Co. (NYSE:SYY – Get Rating) by 42.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,614 shares of the company’s stock after selling 2,710 shares during the quarter. FORA Capital LLC’s holdings in Sysco were worth $300,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. DeDora Capital Inc. acquired a new stake in Sysco in the 1st quarter valued at approximately $31,000. Allegheny Financial Group LTD bought a new position in Sysco in the fourth quarter valued at approximately $31,000. KRS Capital Management LLC bought a new position in Sysco in the fourth quarter valued at approximately $31,000. Column Capital Advisors LLC grew its stake in Sysco by 4,900.0% in the first quarter. Column Capital Advisors LLC now owns 400 shares of the company’s stock valued at $33,000 after purchasing an additional 392 shares in the last quarter. Finally, Mascoma Wealth Management LLC grew its stake in Sysco by 80.0% in the first quarter. Mascoma Wealth Management LLC now owns 414 shares of the company’s stock valued at $34,000 after purchasing an additional 184 shares in the last quarter. Institutional investors and hedge funds own 82.43% of the company’s stock.
Wall Street Analyst Weigh In
SYY has been the subject of a number of analyst reports. Barclays decreased their price target on Sysco to $100.00 in a research note on Monday, August 15th. Truist Financial decreased their price target on Sysco from $98.00 to $92.00 and set a “buy” rating for the company in a research note on Wednesday, August 10th. JPMorgan Chase & Co. upgraded Sysco from a “neutral” rating to an “overweight” rating and set a $98.00 target price for the company in a research note on Thursday, May 26th. Credit Suisse Group reduced their target price on Sysco from $107.00 to $100.00 and set an “outperform” rating for the company in a research note on Wednesday, August 10th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Sysco from $82.00 to $84.00 in a research note on Wednesday, May 11th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Sysco currently has an average rating of “Moderate Buy” and a consensus price target of $94.13.
Sysco Stock Performance
Sysco (NYSE:SYY – Get Rating) last released its quarterly earnings results on Tuesday, August 9th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.03. The business had revenue of $18.96 billion during the quarter, compared to the consensus estimate of $18.29 billion. Sysco had a return on equity of 119.55% and a net margin of 1.98%. The firm’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.71 EPS. Research analysts expect that Sysco Co. will post 4.21 EPS for the current year.
Sysco Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 7th will be issued a $0.49 dividend. The ex-dividend date is Thursday, October 6th. This represents a $1.96 annualized dividend and a yield of 2.43%. Sysco’s dividend payout ratio is presently 74.24%.
Insider Buying and Selling at Sysco
In related news, CFO Aaron E. Alt acquired 1,000 shares of the company’s stock in a transaction on Tuesday, June 21st. The stock was purchased at an average cost of $80.09 per share, with a total value of $80,090.00. Following the acquisition, the chief financial officer now directly owns 14,220 shares of the company’s stock, valued at $1,138,879.80. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.31% of the company’s stock.
Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products primarily to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.
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