State of Alaska Department of Revenue boosted its stake in Sysco Co. (NYSE:SYY – Get Rating) by 3.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 83,727 shares of the company’s stock after purchasing an additional 2,480 shares during the quarter. State of Alaska Department of Revenue’s holdings in Sysco were worth $7,091,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. CFS Investment Advisory Services LLC raised its holdings in Sysco by 8,046.2% in the first quarter. CFS Investment Advisory Services LLC now owns 2,049,905 shares of the company’s stock valued at $25,000 after acquiring an additional 2,024,741 shares in the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of Sysco during the first quarter worth $29,000. KRS Capital Management LLC acquired a new stake in shares of Sysco during the fourth quarter worth $31,000. DeDora Capital Inc. acquired a new stake in shares of Sysco during the first quarter worth $31,000. Finally, Column Capital Advisors LLC raised its holdings in shares of Sysco by 4,900.0% during the first quarter. Column Capital Advisors LLC now owns 400 shares of the company’s stock worth $33,000 after purchasing an additional 392 shares during the period. 82.43% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of analysts recently weighed in on the stock. Credit Suisse Group dropped their price objective on shares of Sysco from $107.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, August 10th. JPMorgan Chase & Co. upgraded shares of Sysco from a “neutral” rating to an “overweight” rating and set a $98.00 target price for the company in a research report on Thursday, May 26th. Truist Financial decreased their target price on shares of Sysco from $98.00 to $92.00 and set a “buy” rating for the company in a research report on Wednesday, August 10th. Barclays decreased their target price on shares of Sysco to $100.00 in a research report on Monday, August 15th. Finally, StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 14th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $94.13.
Sysco Trading Up 2.0 %
Sysco (NYSE:SYY – Get Rating) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.03. Sysco had a net margin of 1.98% and a return on equity of 119.55%. The firm had revenue of $18.96 billion for the quarter, compared to the consensus estimate of $18.29 billion. During the same period in the prior year, the company posted $0.71 earnings per share. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. Research analysts forecast that Sysco Co. will post 4.2 EPS for the current year.
Sysco Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 7th will be issued a dividend of $0.49 per share. The ex-dividend date is Thursday, October 6th. This represents a $1.96 annualized dividend and a yield of 2.46%. Sysco’s payout ratio is 74.24%.
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.
- Get a free copy of the StockNews.com research report on Sysco (SYY)
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