Nuance Investments LLC Has $8.27 Million Holdings in SYSCO Co. (SYY)
Nuance Investments LLC grew its position in SYSCO Co. (NYSE:SYY) by 5.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 136,144 shares of the company’s stock after acquiring an additional 7,217 shares during the period. Nuance Investments LLC’s holdings in SYSCO were worth $8,268,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. First Personal Financial Services raised its position in shares of SYSCO by 293.2% during the 3rd quarter. First Personal Financial Services now owns 1,962 shares of the company’s stock worth $106,000 after purchasing an additional 1,463 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of SYSCO by 465.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,783 shares of the company’s stock worth $150,000 after purchasing an additional 2,291 shares during the last quarter. Thompson Siegel & Walmsley LLC raised its position in shares of SYSCO by 51.9% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 2,926 shares of the company’s stock worth $158,000 after purchasing an additional 1,000 shares during the last quarter. Scott & Selber Inc. acquired a new position in shares of SYSCO during the 4th quarter worth about $200,000. Finally, McKinley Carter Wealth Services Inc. acquired a new position in shares of SYSCO during the 4th quarter worth about $202,000. Institutional investors and hedge funds own 79.35% of the company’s stock.
In other news, insider Russell T. Libby sold 13,334 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $60.69, for a total value of $809,240.46. Following the completion of the sale, the insider now owns 64,394 shares of the company’s stock, valued at approximately $3,908,071.86. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Wayne Shurts sold 7,800 shares of the stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $61.76, for a total transaction of $481,728.00. Following the completion of the sale, the executive vice president now directly owns 55,235 shares of the company’s stock, valued at approximately $3,411,313.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 144,695 shares of company stock valued at $8,759,223. 9.60% of the stock is owned by corporate insiders.
SYSCO (NYSE:SYY) last announced its quarterly earnings data on Monday, February 5th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.01. SYSCO had a net margin of 2.10% and a return on equity of 61.02%. The company had revenue of $14.41 billion during the quarter, compared to analysts’ expectations of $14.15 billion. During the same quarter in the prior year, the company earned $0.58 EPS. SYSCO’s revenue was up 7.1% compared to the same quarter last year. equities analysts expect that SYSCO Co. will post 2.95 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Friday, January 5th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend was Thursday, January 4th. This is a boost from SYSCO’s previous quarterly dividend of $0.33. SYSCO’s dividend payout ratio is currently 64.29%.
Several research firms recently weighed in on SYY. Bank of America upped their price target 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. Loop Capital reduced their price target on shares of SYSCO from $72.00 to $70.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. Pivotal Research reduced their price target on shares of SYSCO from $68.00 to $61.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. Royal Bank of Canada restated a “sector perform” rating and set a $61.00 price target on shares of SYSCO in a research report on Tuesday, February 6th. Finally, BMO Capital Markets set a $74.00 price target on shares of SYSCO and gave the stock a “buy” rating in a research report on Monday, February 5th. Six research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $65.20.
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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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