Sompo Japan Nipponkoa Asset Management CO. LTD. bought a new stake in shares of SYSCO Co. (NYSE:SYY) during the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 20,410 shares of the company’s stock, valued at approximately $931,000.
A number of other institutional investors also recently added to or reduced their stakes in the business. Sugarloaf Wealth Management LLC acquired a new position in shares of SYSCO in the 4th quarter worth approximately $26,000. West Bancorporation Inc. acquired a new position in shares of SYSCO in the 4th quarter worth approximately $27,000. St. Johns Investment Management Company LLC acquired a new position in shares of SYSCO in the 4th quarter worth approximately $32,000. TFG Advisers LLC acquired a new position in shares of SYSCO in the 4th quarter worth approximately $34,000. Finally, Lloyd Advisory Services LLC. acquired a new position in shares of SYSCO in the 4th quarter worth approximately $41,000. 79.59% of the stock is currently owned by hedge funds and other institutional investors.
Shares of SYY stock traded down $0.73 during trading on Friday, hitting $51.75. 3,526,597 shares of the company were exchanged, compared to its average volume of 5,359,087. The company has a debt-to-equity ratio of 5.21, a quick ratio of 0.93 and a current ratio of 1.49. The firm has a market capitalization of $26.64 billion, a price-to-earnings ratio of 15.53, a P/E/G ratio of 2.78 and a beta of 1.15. The business’s 50-day simple moving average is $49.70 and its 200 day simple moving average is $68.68. SYSCO Co. has a twelve month low of $26.00 and a twelve month high of $85.98.
The business also recently declared a quarterly dividend, which was paid on Friday, April 24th. Investors of record on Friday, April 3rd were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 3.48%. The ex-dividend date was Thursday, April 2nd. SYSCO’s dividend payout ratio is currently 50.70%.
SYY has been the topic of several recent research reports. Jefferies Financial Group lowered their price objective on shares of SYSCO from $66.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Zacks Investment Research cut shares of SYSCO from a “hold” rating to a “sell” rating and set a $62.00 price objective on the stock. in a research note on Saturday, May 2nd. JPMorgan Chase & Co. lowered their price objective on shares of SYSCO from $78.00 to $47.00 and set an “overweight” rating on the stock in a research note on Monday, April 6th. Wells Fargo & Co dropped their target price on shares of SYSCO from $75.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Monday, March 16th. Finally, BMO Capital Markets downgraded shares of SYSCO from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $88.00 to $51.00 in a research report on Thursday, April 23rd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. SYSCO has a consensus rating of “Hold” and an average price target of $69.23.
In other SYSCO news, Director Joshua D. Frank bought 600,000 shares of SYSCO stock in a transaction on Friday, May 15th. The stock was purchased at an average cost of $47.42 per share, for a total transaction of $28,452,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Trian Fund Management, L.P. bought 703,700 shares of SYSCO stock in a transaction on Monday, May 18th. The stock was acquired at an average price of $51.38 per share, with a total value of $36,156,106.00. The disclosure for this purchase can be found here. Company insiders own 5.24% of the company’s stock.
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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