38,048 Shares in SYSCO Co. (NYSE:SYY) Bought by Shilanski & Associates Inc.
Shilanski & Associates Inc. acquired a new position in SYSCO Co. (NYSE:SYY) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 38,048 shares of the company’s stock, valued at approximately $2,691,000. SYSCO accounts for approximately 2.2% of Shilanski & Associates Inc.’s portfolio, making the stock its 18th largest holding.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. 6 Meridian grew its holdings in SYSCO by 1.8% during the second quarter. 6 Meridian now owns 7,760 shares of the company’s stock valued at $549,000 after purchasing an additional 140 shares during the period. Security National Trust Co. lifted its position in shares of SYSCO by 6.4% in the first quarter. Security National Trust Co. now owns 2,500 shares of the company’s stock valued at $167,000 after acquiring an additional 150 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. lifted its position in shares of SYSCO by 3.4% in the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 4,623 shares of the company’s stock valued at $327,000 after acquiring an additional 150 shares in the last quarter. Cornerstone Advisors Inc. lifted its position in shares of SYSCO by 27.0% in the second quarter. Cornerstone Advisors Inc. now owns 733 shares of the company’s stock valued at $52,000 after acquiring an additional 156 shares in the last quarter. Finally, Cable Hill Partners LLC lifted its position in shares of SYSCO by 11.8% in the first quarter. Cable Hill Partners LLC now owns 1,520 shares of the company’s stock valued at $101,000 after acquiring an additional 161 shares in the last quarter. 78.54% of the stock is owned by institutional investors.
Shares of SYSCO stock traded down $0.29 during trading hours on Wednesday, hitting $72.51. The company’s stock had a trading volume of 60,423 shares, compared to its average volume of 3,522,765. The company has a debt-to-equity ratio of 3.25, a quick ratio of 0.81 and a current ratio of 1.33. The company has a market cap of $37.50 billion, a PE ratio of 20.42, a PEG ratio of 2.02 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 business has a 50 day moving average price of $71.17 and a two-hundred day moving average price of $69.77.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be given a $0.39 dividend. The ex-dividend date of this dividend 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 is currently 43.94%.
SYY has been the topic of several research analyst reports. Morgan Stanley boosted their price objective on SYSCO from $69.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 7th. Pivotal Research restated a “sell” rating and issued a $58.00 price objective (up from $54.00) on shares of SYSCO in a research report on Tuesday, May 7th. Barclays boosted their price objective on SYSCO from $70.00 to $71.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 13th. Zacks Investment Research downgraded SYSCO from a “buy” rating to a “hold” rating and set a $75.00 price objective on the stock. in a research report on Tuesday, June 11th. Finally, ValuEngine upgraded SYSCO from a “hold” rating to a “buy” rating in a research report on Wednesday, May 29th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $73.60.
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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