Swiss National Bank Lowers Stake in SYSCO Co. (SYY)
Swiss National Bank cut its holdings in SYSCO Co. (NYSE:SYY) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,147,940 shares of the company’s stock after selling 13,000 shares during the quarter. Swiss National Bank’s holdings in SYSCO were worth $130,444,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Cognios Capital LLC boosted its position in SYSCO by 2.3% during the fourth quarter. Cognios Capital LLC now owns 38,935 shares of the company’s stock worth $2,362,000 after acquiring an additional 867 shares during the last quarter. M&T Bank Corp boosted its position in SYSCO by 1.0% during the fourth quarter. M&T Bank Corp now owns 490,247 shares of the company’s stock worth $29,773,000 after acquiring an additional 4,741 shares during the last quarter. Community Bank N.A. boosted its position in SYSCO by 4.4% during the fourth quarter. Community Bank N.A. now owns 33,257 shares of the company’s stock worth $2,020,000 after acquiring an additional 1,387 shares during the last quarter. Shelton Capital Management boosted its position in SYSCO by 676.8% during the fourth quarter. Shelton Capital Management now owns 40,516 shares of the company’s stock worth $2,461,000 after acquiring an additional 35,300 shares during the last quarter. Finally, AE Wealth Management LLC acquired a new stake in SYSCO during the fourth quarter worth approximately $214,000. Institutional investors and hedge funds own 79.35% of the company’s stock.
A number of analysts recently issued reports on the stock. BMO Capital Markets set a $74.00 target price on shares of SYSCO and gave the stock a “buy” rating in a research report on Monday, February 5th. Jefferies Group set a $67.00 target price on shares of SYSCO and gave the stock a “hold” rating in a research report on Monday, February 5th. Pivotal Research decreased their target price on shares of SYSCO from $68.00 to $61.00 and set a “buy” rating on the stock in a research report on Tuesday, February 6th. Royal Bank of Canada restated a “sector perform” rating and set a $61.00 target price on shares of SYSCO in a research report on Tuesday, February 6th. Finally, Bank of America raised their target price on shares of SYSCO from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Six investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. SYSCO has an average rating of “Buy” and an average price target of $65.20.
SYSCO Co. (SYY) opened at $58.33 on Monday. The firm has a market cap of $30,443.52, a price-to-earnings ratio of 22.18, a price-to-earnings-growth ratio of 1.96 and a beta of 0.56. SYSCO Co. has a 1-year low of $48.85 and a 1-year high of $64.27. The company has a quick ratio of 0.85, a current ratio of 1.38 and a debt-to-equity ratio of 3.66.
SYSCO (NYSE:SYY) last announced its quarterly earnings results on Monday, February 5th. The company reported $0.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.01. The company had revenue of $14.41 billion for the quarter, compared to analyst estimates of $14.15 billion. SYSCO had a net margin of 2.10% and a return on equity of 61.02%. SYSCO’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the business earned $0.58 EPS. equities research analysts expect that SYSCO Co. will post 2.95 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, January 26th. Shareholders of record on Friday, January 5th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend was Thursday, January 4th. This is a positive change from SYSCO’s previous quarterly dividend of $0.33. SYSCO’s dividend payout ratio (DPR) is 64.29%.
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SYSCO Company Profile
Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.
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