Versor Investments LP bought a new position in shares of Sysco Co. (NYSE:SYY - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 18,000 shares of the company's stock, valued at approximately $1,405,000.
Several other institutional investors also recently modified their holdings of the stock. Venturi Wealth Management LLC raised its position in Sysco by 9.0% in the third quarter. Venturi Wealth Management LLC now owns 4,449 shares of the company's stock valued at $347,000 after purchasing an additional 366 shares during the last quarter. Diamond Hill Capital Management Inc. raised its holdings in Sysco by 11.2% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company's stock valued at $521,874,000 after buying an additional 672,940 shares during the last quarter. Kennebec Savings Bank acquired a new stake in Sysco during the 3rd quarter worth approximately $98,000. Ashton Thomas Securities LLC bought a new stake in Sysco during the 3rd quarter worth approximately $26,000. Finally, State of New Jersey Common Pension Fund D increased its position in Sysco by 1.4% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 175,028 shares of the company's stock valued at $13,663,000 after acquiring an additional 2,382 shares during the period. 83.41% of the stock is currently owned by institutional investors and hedge funds.
Sysco stock traded up $1.00 during trading on Monday, hitting $78.39. The stock had a trading volume of 192,718 shares, compared to its average volume of 3,158,125. The stock's 50 day moving average is $76.14 and its two-hundred day moving average is $74.72. Sysco Co. has a 1 year low of $66.87 and a 1 year high of $82.89. The stock has a market cap of $38.51 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 2.03 and a beta of 1.20. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38.
Sysco (NYSE:SYY - Get Free Report) last issued its earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing analysts' consensus estimates of $1.13 by ($0.04). The business had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. Sysco's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.07 EPS. As a group, analysts predict that Sysco Co. will post 4.57 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 4th were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.60%. The ex-dividend date was Friday, October 4th. Sysco's payout ratio is 52.44%.
SYY has been the topic of several analyst reports. Morgan Stanley reduced their price objective on shares of Sysco from $82.00 to $81.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 16th. Jefferies Financial Group increased their price target on Sysco from $91.00 to $92.00 and gave the company a "buy" rating in a research note on Wednesday, September 25th. Wells Fargo & Company cut their price objective on Sysco from $87.00 to $82.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 30th. Barclays increased their target price on shares of Sysco from $85.00 to $88.00 and gave the company an "overweight" rating in a research report on Wednesday, July 31st. Finally, StockNews.com downgraded shares of Sysco from a "strong-buy" rating to a "buy" rating in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $85.77.
Check Out Our Latest Stock Report on Sysco
In related news, SVP Eve M. Mcfadden sold 4,036 shares of Sysco stock in a transaction on Friday, November 1st. The stock was sold at an average price of $75.10, for a total transaction of $303,103.60. Following the completion of the sale, the senior vice president now owns 48,451 shares of the company's stock, valued at approximately $3,638,670.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.54% of the company's stock.
Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.
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