EagleClaw Capital Managment LLC Acquires New Stake in SYSCO Co. (NYSE:SYY)
EagleClaw Capital Managment LLC acquired a new stake in shares of SYSCO Co. (NYSE:SYY) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,961 shares of the company’s stock, valued at approximately $210,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. 6 Meridian lifted its position in SYSCO by 1.8% during the second quarter. 6 Meridian now owns 7,760 shares of the company’s stock worth $549,000 after buying an additional 140 shares during the period. Security National Trust Co. lifted its position in SYSCO by 6.4% during the first quarter. Security National Trust Co. now owns 2,500 shares of the company’s stock worth $167,000 after buying an additional 150 shares during the period. Mitchell Mcleod Pugh & Williams Inc. lifted its position in SYSCO by 3.4% during the second quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 4,623 shares of the company’s stock worth $327,000 after buying an additional 150 shares during the period. LVM Capital Management Ltd. MI raised its holdings in shares of SYSCO by 1.4% in the 1st quarter. LVM Capital Management Ltd. MI now owns 11,284 shares of the company’s stock worth $753,000 after purchasing an additional 155 shares during the period. Finally, Cornerstone Advisors Inc. raised its holdings in shares of SYSCO by 27.0% in the 2nd quarter. Cornerstone Advisors Inc. now owns 733 shares of the company’s stock worth $52,000 after purchasing an additional 156 shares during the period. 77.71% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently commented on SYY. Zacks Investment Research upgraded HB Fuller from a “sell” rating to a “hold” rating in a report on Tuesday, June 11th. Loop Capital raised their price objective on SYSCO to $80.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Morgan Stanley raised their price objective on SYSCO from $69.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 7th. Pivotal Research restated a “sell” rating and issued a $58.00 price objective (up from $54.00) on shares of SYSCO in a report on Tuesday, May 7th. Finally, Buckingham Research raised their target price on SYSCO from $82.00 to $84.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $73.63.
SYSCO (NYSE:SYY) last issued its earnings results on Monday, May 6th. The company reported $0.79 EPS for the quarter, topping the consensus estimate of $0.70 by $0.09. The company had revenue of $14.66 billion during the quarter, compared to analyst estimates of $14.78 billion. SYSCO had a return on equity of 73.66% and a net margin of 2.65%. The business’s revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.67 EPS. On average, equities analysts anticipate that SYSCO Co. will post 3.5 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend is Thursday, October 3rd. SYSCO’s dividend payout ratio (DPR) is 49.68%.
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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