Blodgett Wealth Advisors LLC purchased a new position in Sysco Co. (NYSE: SYY – Get Rating) stock in the fourth quarter, according to its latest 13F filing with the SEC. The company purchased 2,670 shares of its own stock worth approximately $204,000.
Many other hedge funds and other institutional investors have also recently changed their positions on SYY. Parnassus Investments LLC raised 144.3% of his stake in Sysco in the fourth quarter. Parnassus Investments LLC now owns 13,076,228 shares worth $999,678,000 after purchasing an additional 7,723,075 of his shares during the previous quarter. Ceredex Value Advisors LLC purchased new shares of his Sysco worth $86,016,000 in the third quarter. Renaissance Technologies LLC increased its stake in Sysco by 660.7% in the third quarter. Renaissance Technologies LLC now owns 1,374,500 shares worth $97,191,000 after acquiring an additional 1,193,800 shares during the previous quarter. Victory Capital Management Inc. increased his Sysco stock position by 14.9% in the third quarter. Victory Capital Management Inc. now owns 7,369,863 shares worth $521,123,000 after acquiring an additional 953,110 shares during this period. Finally, Los Angeles Capital Management LLC increased its stake in Sysco stock by 95.7% in the third quarter. Los Angeles Capital Management LLC now owns 1,642,830 shares worth $116,165,000 after purchasing an additional 803,346 shares during the previous quarter. Currently 81.18% of the shares are owned by institutional investors and hedge funds.
Analyst upgrades and downgrades
Recently, many research firms have commented on SYY. In its Wednesday, Feb. 1 report, Truist Financial said he lowered Sysco’s price target from $92.00 to $88.00, setting a “buy” rating for the company. Bank of America began coverage of Sysco with a report on Thursday, March 9. They set a Buy rating and a company price target of $90.00. Credit Suisse Group lowered Sysco’s price target from $100.00 to $94.00 in its Wednesday, Feb. 1 report, setting the company’s valuation to “outperform.” StockNews.com upgraded Sysco’s rating from “buy” to “strong buy” in a report on Friday, March 10. Finally, Argus downgraded Sysco’s stock from ‘buy’ to ‘hold’ in his research report on Thursday, Feb. 2. Three research analysts gave the stock a hold rating, eight with a buy rating, and one with a strong buy rating. According to MarketBeat.com, the company’s current average rating is “moderate buy” with an average target price of $88.00.
Cisco price/performance ratio
NYSE SYY shares climbed $1.46 in Monday noon trading to reach $74.94. The company’s stock had a trading volume of 1,396,806 shares, with an average trading volume of 2,364,934 shares for him. The company has a debt to equity ratio of 7.20, a quick ratio of 0.68 and a current ratio of 1.24. Sysco Co. has a 52-week low of $70.61 and a 52-week high of $91.53. His 50-day moving average price for this business is $76.08 and his 200-day moving average price is $78.57. The company has a market capitalization of $38.04 billion, a P/E ratio of 26.88, a P/E/G ratio of 1.42 and a beta of 1.10.
Sysco (NYSE:SYY – Get Rating) last released quarterly earnings data on Tuesday, January 31. The company reported EPS of $0.80 for the quarter, missing the consensus forecast of $0.84 ($0.04). Sysco had a net profit margin of 1.93% and a return on equity of 140.94%. The company’s revenue for the quarter was $18.59 billion, compared with analyst estimates of $18.59 billion. During the same quarter last year, the company earned $0.57 per share for him. The company’s quarterly revenue increased 13.9% year-over-year. On average, analysts expect Sysco Co. to post his 4.04 EPS in the current financial year.
Cisco Dividend Announcement
The company also recently announced a quarterly dividend payable on Friday, April 28th. Shareholders of record on Thursday, April 6 will receive a dividend of $0.49 per share. The ex-dividend date is Wednesday, April 5. This represents his $1.96 dividend and his 2.62% yield on an annualized basis. Cisco’s payout ratio is currently 70.76%.
Sysco Corp. sells, markets, and distributes food products to restaurants, medical facilities, educational facilities, and lodging facilities. It operates through its U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.The foodservice business in the United States consists of the United States
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