UBS Asset Management Americas Inc. Has $127.41 Million Holdings in SYSCO Co. (NYSE:SYY)
UBS Asset Management Americas Inc. reduced its holdings in SYSCO Co. (NYSE:SYY) by 8.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,098,048 shares of the company’s stock after selling 198,268 shares during the quarter. UBS Asset Management Americas Inc. owned approximately 0.40% of SYSCO worth $127,414,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently bought and sold shares of SYY. First Personal Financial Services boosted its position in shares of SYSCO by 293.2% in the third quarter. First Personal Financial Services now owns 1,962 shares of the company’s stock worth $106,000 after buying an additional 1,463 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of SYSCO by 465.7% in the third quarter. Advisors Asset Management Inc. now owns 2,783 shares of the company’s stock worth $150,000 after acquiring an additional 2,291 shares in the last quarter. Thompson Siegel & Walmsley LLC lifted its stake in shares of SYSCO by 51.9% in the third quarter. Thompson Siegel & Walmsley LLC now owns 2,926 shares of the company’s stock worth $158,000 after acquiring an additional 1,000 shares in the last quarter. Scott & Selber Inc. acquired a new position in shares of SYSCO in the fourth quarter worth about $200,000. Finally, McKinley Carter Wealth Services Inc. acquired a new position in shares of SYSCO in the fourth quarter worth about $202,000. 79.05% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have issued reports on SYY. Zacks Investment Research cut SYSCO from a “buy” rating to a “hold” rating in a research note on Wednesday. Bank of America upped their price objective on SYSCO from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, February 6th. Loop Capital cut their price objective on SYSCO from $72.00 to $70.00 and set a “buy” rating on the stock in a research note on Tuesday, February 6th. Pivotal Research cut their price objective on SYSCO from $68.00 to $61.00 and set a “buy” rating on the stock in a research note on Tuesday, February 6th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $61.00 price target on shares of SYSCO in a research report on Tuesday, February 6th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $65.20.
SYSCO Co. (SYY) opened at $59.88 on Thursday. SYSCO Co. has a fifty-two week low of $48.85 and a fifty-two week high of $64.27. The stock has a market capitalization of $31,250.00, a P/E ratio of 26.03, a P/E/G ratio of 2.03 and a beta of 0.60. The company has a debt-to-equity ratio of 3.66, a current ratio of 1.38 and a quick ratio of 0.85.
SYSCO (NYSE:SYY) last issued its quarterly earnings results on Monday, February 5th. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. The firm had revenue of $14.41 billion during the quarter, compared to analyst estimates of $14.15 billion. SYSCO had a return on equity of 61.02% and a net margin of 2.10%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the company posted $0.58 EPS. analysts anticipate that SYSCO Co. will post 2.95 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 27th. Shareholders of record on Friday, April 6th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date is Thursday, April 5th. SYSCO’s payout ratio is currently 62.61%.
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Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.
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