Wedge Capital Management L L P NC Sells 52,340 Shares of SYSCO Co. (NYSE:SYY)
Wedge Capital Management L L P NC decreased its stake in shares of SYSCO Co. (NYSE:SYY) by 24.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 162,547 shares of the company’s stock after selling 52,340 shares during the period. Wedge Capital Management L L P NC’s holdings in SYSCO were worth $11,495,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of SYY. FMR LLC lifted its position in SYSCO by 29.4% during the first quarter. FMR LLC now owns 5,749,922 shares of the company’s stock valued at $383,865,000 after purchasing an additional 1,306,410 shares during the period. Geode Capital Management LLC increased its holdings in SYSCO by 20.5% during the fourth 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 during the last quarter. Public Employees Retirement Association of Colorado increased its holdings in SYSCO by 1,060.1% during the second quarter. Public Employees Retirement Association of Colorado now owns 1,086,842 shares of the company’s stock valued at $76,861,000 after buying an additional 993,153 shares during the last quarter. Thoroughbred Financial Services LLC increased its holdings in SYSCO by 7,119.9% during the second quarter. Thoroughbred Financial Services LLC now owns 885,956 shares of the company’s stock valued at $88,596,000 after buying an additional 873,685 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in SYSCO by 8.7% during the first 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 during the last quarter. Institutional investors own 78.30% of the company’s stock.
Shares of NYSE SYY traded up $0.28 during midday trading on Thursday, reaching $72.56. The stock had a trading volume of 576,634 shares, compared to its average volume of 3,097,832. The business’s 50-day simple moving average is $70.87. 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 company has a market cap of $37.10 billion, a P/E ratio of 20.44, a price-to-earnings-growth ratio of 1.92 and a beta of 0.52. SYSCO Co. has a 12-month low of $59.44 and a 12-month high of $75.98.
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 paid a $0.39 dividend. The ex-dividend date is Thursday, October 3rd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.15%. SYSCO’s dividend payout ratio (DPR) is presently 43.94%.
A number of analysts have commented on SYY shares. Wells Fargo & Co reaffirmed a “buy” rating on shares of SYSCO in a report on Monday. Loop Capital upped their target price on shares of SYSCO to $80.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Barclays upped their target price on shares of SYSCO from $70.00 to $71.00 and gave the company an “equal weight” rating in a report on Tuesday. Consumer Edge started coverage on shares of SYSCO in a report on Wednesday, July 17th. They set an “underweight” rating and a $71.75 target price for the company. Finally, Buckingham Research upped their target price on shares of SYSCO from $82.00 to $84.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price 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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