Traders Buy Shares of SYSCO (SYY) on Weakness
Investors bought shares of SYSCO Co. (NYSE:SYY) on weakness during trading hours on Monday. $77.10 million flowed into the stock on the tick-up and $20.64 million flowed out of the stock on the tick-down, for a money net flow of $56.46 million into the stock. Of all stocks tracked, SYSCO had the 4th highest net in-flow for the day. SYSCO traded down ($0.20) for the day and closed at $58.13
A number of equities analysts have weighed in on SYY shares. Loop Capital decreased their target price on shares of SYSCO from $72.00 to $70.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $61.00 target price on shares of SYSCO in a research note on Tuesday, February 6th. Pivotal Research reaffirmed a “hold” rating and set a $53.00 target price on shares of SYSCO in a research note on Sunday, November 5th. Zacks Investment Research raised shares of SYSCO from a “hold” rating to a “strong-buy” rating and set a $71.00 target price for the company in a research note on Wednesday, January 10th. Finally, BMO Capital Markets set a $66.00 target price on shares of SYSCO and gave the company a “buy” rating in a research note on Friday, December 8th. Six 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 stock. The company currently has a consensus rating of “Buy” and an average price target of $65.20.
The company has a debt-to-equity ratio of 3.66, a quick ratio of 0.85 and a current ratio of 1.38. The stock has a market capitalization of $30,339.14, a price-to-earnings ratio of 26.08, a P/E/G ratio of 1.95 and a beta of 0.56.
The company also recently declared a quarterly dividend, which was paid on Friday, January 26th. Stockholders of record on Friday, January 5th were issued a dividend of $0.36 per share. This is a boost from SYSCO’s previous quarterly dividend of $0.33. The ex-dividend date was Thursday, January 4th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.47%. SYSCO’s dividend payout ratio is presently 64.29%.
In other news, SVP William W. Goetz sold 11,323 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $62.00, for a total transaction of $702,026.00. Following the sale, the senior vice president now owns 35,825 shares in the company, valued at $2,221,150. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Wayne Shurts sold 15,600 shares of the stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $61.44, for a total transaction of $958,464.00. Following the sale, the insider now owns 55,235 shares in the company, valued at approximately $3,393,638.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 144,695 shares of company stock worth $8,759,223. Corporate insiders own 9.60% of the company’s stock.
Several large investors have recently bought and sold shares of the company. First Personal Financial Services boosted its holdings in SYSCO by 293.2% in the third 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. Valeo Financial Advisors LLC boosted its holdings in SYSCO by 98.7% in the fourth quarter. Valeo Financial Advisors LLC now owns 2,267 shares of the company’s stock worth $138,000 after purchasing an additional 1,126 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in SYSCO by 465.7% in the third 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 boosted its holdings in SYSCO by 51.9% in the third 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. Finally, Trustcore Financial Services LLC purchased a new stake in SYSCO in the fourth quarter worth approximately $194,000. Hedge funds and other institutional investors own 79.35% of the company’s stock.
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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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