Hayden Royal LLC Makes New Investment in SYSCO Co. (NYSE:SYY)
Hayden Royal LLC acquired a new position in SYSCO Co. (NYSE:SYY) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,315 shares of the company’s stock, valued at approximately $237,000.
Other large investors have also modified their holdings of the company. Parnassus Investments CA lifted its holdings in SYSCO by 4.7% during the 1st quarter. Parnassus Investments CA now owns 8,752,593 shares of the company’s stock valued at $584,323,000 after buying an additional 393,096 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in SYSCO by 8.7% during the 1st quarter. Janus Henderson Group PLC now owns 7,948,553 shares of the company’s stock valued at $530,645,000 after buying an additional 633,041 shares in the last quarter. Northern Trust Corp lifted its holdings in SYSCO by 3.1% during the 1st quarter. Northern Trust Corp now owns 6,625,261 shares of the company’s stock valued at $442,302,000 after buying an additional 197,233 shares in the last quarter. Geode Capital Management LLC lifted its holdings in SYSCO by 20.5% during the 4th quarter. Geode Capital Management LLC now owns 6,331,895 shares of the company’s stock valued at $396,070,000 after buying an additional 1,076,459 shares in the last quarter. Finally, FMR LLC lifted its holdings in SYSCO by 29.4% during the 1st quarter. FMR LLC now owns 5,749,922 shares of the company’s stock valued at $383,865,000 after buying an additional 1,306,410 shares in the last quarter. 78.30% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:SYY traded up $0.14 during trading hours on Thursday, hitting $72.43. The company’s stock had a trading volume of 697,400 shares, compared to its average volume of 3,097,832. SYSCO Co. has a 52 week low of $59.44 and a 52 week high of $75.98. The company has a debt-to-equity ratio of 3.44, a current ratio of 1.30 and a quick ratio of 0.79. The firm has a market capitalization of $37.10 billion, a P/E ratio of 20.40, a price-to-earnings-growth ratio of 1.92 and a beta of 0.52. The company’s fifty day moving average is $70.87.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 4th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Thursday, October 3rd. SYSCO’s payout ratio is currently 43.94%.
A number of brokerages recently weighed in on SYY. Consumer Edge began coverage on shares of SYSCO in a report on Wednesday, July 17th. They set an “underweight” rating and a $71.75 price objective for the company. Pivotal Research reiterated a “sell” rating and set a $58.00 price objective (up previously from $54.00) on shares of SYSCO in a report on Tuesday, May 7th. Barclays lifted their price objective on shares of SYSCO from $70.00 to $71.00 and gave the company an “equal weight” rating in a report on Tuesday. Zacks Investment Research lowered shares of SYSCO from a “buy” rating to a “hold” rating and set a $75.00 price objective for the company. in a report on Tuesday, June 11th. Finally, ValuEngine upgraded shares of SYSCO from a “hold” rating to a “buy” rating in a report on Wednesday, May 29th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $74.48.
SYSCO Company Profile
Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.
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