CVA Family Office LLC lowered its position in shares of Sysco Co. (NYSE:SYY – Get Rating) by 17.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,030 shares of the company’s stock after selling 215 shares during the quarter. CVA Family Office LLC’s holdings in Sysco were worth $73,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in SYY. Ceredex Value Advisors LLC bought a new stake in Sysco in the third quarter valued at about $86,016,000. Renaissance Technologies LLC increased its holdings in Sysco by 660.7% in the third quarter. Renaissance Technologies LLC now owns 1,374,500 shares of the company’s stock valued at $97,191,000 after purchasing an additional 1,193,800 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in Sysco by 27.3% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,187,525 shares of the company’s stock valued at $439,437,000 after purchasing an additional 1,111,654 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Sysco by 14.9% in the third quarter. Victory Capital Management Inc. now owns 7,369,863 shares of the company’s stock valued at $521,123,000 after purchasing an additional 953,110 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its holdings in Sysco by 95.7% in the third quarter. Los Angeles Capital Management LLC now owns 1,642,830 shares of the company’s stock valued at $116,165,000 after purchasing an additional 803,346 shares during the last quarter. Institutional investors own 81.18% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the company. Stephens reiterated an “overweight” rating and issued a $90.00 price objective on shares of Sysco in a report on Friday, January 13th. TheStreet cut Sysco from a “b” rating to a “c+” rating in a research note on Tuesday, January 31st. Argus cut Sysco from a “buy” rating to a “hold” rating in a research note on Thursday, February 2nd. Credit Suisse Group decreased their target price on Sysco from $100.00 to $94.00 and set an “outperform” rating for the company in a research note on Wednesday, February 1st. Finally, StockNews.com raised Sysco from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 10th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $89.67.
Sysco Stock Down 0.6 %
Sysco (NYSE:SYY – Get Rating) last posted its quarterly earnings data on Tuesday, January 31st. The company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.04). The firm had revenue of $18.59 billion for the quarter, compared to analyst estimates of $18.59 billion. Sysco had a return on equity of 140.94% and a net margin of 1.93%. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.57 earnings per share. On average, sell-side analysts anticipate that Sysco Co. will post 4.04 earnings per share for the current fiscal year.
Sysco Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Thursday, April 6th will be issued a dividend of $0.49 per share. The ex-dividend date is Wednesday, April 5th. This represents a $1.96 annualized dividend and a yield of 2.63%. Sysco’s payout ratio is presently 70.76%.
Sysco Corp. engages in selling, marketing, and distribution of food products to restaurants, healthcare and educational facilities, and lodging establishments. It operates through the following segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other. The U.S. Foodservice Operations consists of U.S.
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