Atria Investments LLC increased its holdings in shares of Sysco Co. (NYSE:SYY) by 5.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 52,618 shares of the company’s stock after purchasing an additional 2,657 shares during the period. Atria Investments LLC’s holdings in Sysco were worth $4,091,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brasada Capital Management LP grew its stake in Sysco by 14.3% during the first quarter. Brasada Capital Management LP now owns 40,795 shares of the company’s stock worth $3,212,000 after purchasing an additional 5,092 shares during the period. New York State Common Retirement Fund grew its stake in Sysco by 4.8% during the second quarter. New York State Common Retirement Fund now owns 970,603 shares of the company’s stock worth $75,464,000 after purchasing an additional 44,203 shares during the period. Waddell & Reed Financial Inc. boosted its holdings in Sysco by 40.3% in the first quarter. Waddell & Reed Financial Inc. now owns 1,853,109 shares of the company’s stock worth $145,914,000 after acquiring an additional 532,233 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Sysco by 9.4% in the first quarter. Public Employees Retirement System of Ohio now owns 313,455 shares of the company’s stock worth $24,681,000 after acquiring an additional 26,837 shares in the last quarter. Finally, National Pension Service boosted its holdings in Sysco by 1.0% in the first quarter. National Pension Service now owns 685,152 shares of the company’s stock worth $53,949,000 after acquiring an additional 6,600 shares in the last quarter. 79.81% of the stock is owned by institutional investors and hedge funds.
SYY stock opened at $75.78 on Wednesday. Sysco Co. has a twelve month low of $53.85 and a twelve month high of $86.73. The company has a quick ratio of 0.96, a current ratio of 1.47 and a debt-to-equity ratio of 6.82. The stock’s 50 day moving average is $75.77 and its 200-day moving average is $78.77. The firm has a market capitalization of $38.81 billion, a PE ratio of 75.03, a P/E/G ratio of 2.44 and a beta of 1.45.
The firm also recently declared a dividend, which will be paid on Thursday, September 30th. Investors of record on Thursday, September 16th will be issued a dividend of $0.47 per share. The ex-dividend date is Wednesday, September 15th. This represents a yield of 2.4%. Sysco’s dividend payout ratio (DPR) is currently 130.56%.
In related news, EVP Greg D. Bertrand sold 7,230 shares of Sysco stock in a transaction on Friday, August 27th. The stock was sold at an average price of $80.00, for a total transaction of $578,400.00. Following the sale, the executive vice president now directly owns 32,238 shares in the company, valued at $2,579,040. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.17% of the company’s stock.
SYY has been the topic of several recent research reports. Morgan Stanley increased their price target on Sysco from $88.00 to $89.00 and gave the stock an “equal weight” rating in a report on Monday, May 24th. UBS Group initiated coverage on Sysco in a report on Thursday, July 29th. They issued a “buy” rating and a $89.00 price target on the stock. Finally, Barclays increased their price target on Sysco from $80.00 to $83.00 and gave the stock an “equal weight” rating in a report on Friday, May 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $85.78.
Sysco Corp. engages in selling, marketing, and distribution of food products to restaurants, healthcare and educational facilities, and lodging establishments. It operates through the following segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other. The U.S. Foodservice Operations consists of U.S.
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