Axa S.A. purchased a new position in shares of Sysco Co. (NYSE:SYY – Get Rating) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 31,647 shares of the company’s stock, valued at approximately $2,238,000.
Other institutional investors have also made changes to their positions in the company. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of Sysco during the second quarter worth approximately $26,000. Karp Capital Management Corp acquired a new stake in shares of Sysco during the third quarter worth approximately $27,000. American National Bank boosted its holdings in shares of Sysco by 397.6% during the third quarter. American National Bank now owns 408 shares of the company’s stock worth $29,000 after purchasing an additional 326 shares during the period. Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Sysco during the third quarter worth approximately $32,000. Finally, Focused Wealth Management Inc boosted its holdings in shares of Sysco by 128.7% during the third quarter. Focused Wealth Management Inc now owns 468 shares of the company’s stock worth $33,000 after purchasing an additional 2,100 shares during the period. 81.18% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of analysts have issued reports on the stock. Morgan Stanley reduced their target price on shares of Sysco from $87.00 to $86.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 1st. Argus cut shares of Sysco from a “buy” rating to a “hold” rating in a research note on Thursday, February 2nd. StockNews.com cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 7th. Truist Financial reduced their target price on shares of Sysco from $92.00 to $88.00 and set a “buy” rating for the company in a research note on Wednesday, February 1st. Finally, BMO Capital Markets reduced their target price on shares of Sysco from $96.00 to $90.00 and set an “outperform” rating for the company in a research note on Wednesday, February 1st. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.64.
Sysco Trading Down 0.9 %
Sysco (NYSE:SYY – Get Rating) last announced its earnings results on Tuesday, January 31st. The company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.04). Sysco had a return on equity of 140.94% and a net margin of 1.93%. The company had revenue of $18.59 billion for the quarter, compared to the consensus estimate of $18.59 billion. During the same period last year, the firm posted $0.57 EPS. The company’s revenue was up 13.9% compared to the same quarter last year. As a group, sell-side analysts predict that Sysco Co. will post 4.05 EPS for the current year.
Sysco Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Thursday, April 6th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend is Wednesday, April 5th. Sysco’s dividend payout ratio (DPR) is currently 70.76%.
Sysco Profile
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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