Coho Partners Ltd. Increases Stock Holdings in Sysco Co. (NYSE:SYY)

Financial News Live · Dec 15, 2022 12:11

Coho Partners Ltd. lifted its stake in shares of Sysco Co. (NYSE:SYY – Get Rating) by 4.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,496,098 shares of the company's stock after purchasing an additional 134,402 shares during the period. Sysco accounts for 4.6% of Coho Partners Ltd.'s holdings, making the stock its 4th biggest position. Coho Partners Ltd. owned about 0.69% of Sysco worth $247,209,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in Sysco by 11.1% in the 1st quarter. Wellington Management Group LLP now owns 35,539,582 shares of the company's stock valued at $2,901,806,000 after acquiring an additional 3,536,646 shares during the period. CFS Investment Advisory Services LLC raised its stake in Sysco by 8,046.2% in the 1st quarter. CFS Investment Advisory Services LLC now owns 2,049,905 shares of the company's stock valued at $25,000 after acquiring an additional 2,024,741 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in Sysco by 27.3% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,187,525 shares of the company's stock valued at $439,437,000 after acquiring an additional 1,111,654 shares during the period. Los Angeles Capital Management LLC raised its stake in Sysco by 10,810.9% in the 2nd quarter. Los Angeles Capital Management LLC now owns 839,484 shares of the company's stock valued at $71,113,000 after acquiring an additional 831,790 shares during the period. Finally, FMR LLC raised its stake in Sysco by 5.1% in the 2nd quarter. FMR LLC now owns 12,638,244 shares of the company's stock valued at $1,070,587,000 after acquiring an additional 608,222 shares during the period. Institutional investors own 82.43% of the company's stock.

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Insider Buying and Selling at Sysco

In other Sysco news, EVP Greg D. Bertrand sold 12,000 shares of the stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $85.00, for a total value of $1,020,000.00. Following the completion of the transaction, the executive vice president now directly owns 40,931 shares in the company, valued at $3,479,135. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Greg D. Bertrand sold 12,000 shares of the firm's stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $85.00, for a total transaction of $1,020,000.00. Following the completion of the transaction, the executive vice president now directly owns 40,931 shares in the company, valued at $3,479,135. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kevin Hourican sold 75,019 shares of the firm's stock in a transaction dated Monday, October 24th. The stock was sold at an average price of $81.22, for a total value of $6,093,043.18. Following the transaction, the chief executive officer now owns 303,643 shares of the company's stock, valued at $24,661,884.46. The disclosure for this sale can be found here. Corporate insiders own 0.43% of the company's stock.

Sysco Price Performance

Shares of SYY stock traded down $3.65 on Thursday, hitting $78.49. 33,249 shares of the company's stock were exchanged, compared to its average volume of 2,418,754. The company has a debt-to-equity ratio of 9.20, a current ratio of 1.20 and a quick ratio of 0.68. Sysco Co. has a 12 month low of $69.83 and a 12 month high of $91.53. The stock has a market cap of $39.78 billion, a P/E ratio of 29.13, a price-to-earnings-growth ratio of 1.80 and a beta of 1.09. The company has a 50 day moving average of $81.99 and a 200 day moving average of $82.53.

Sysco (NYSE:SYY – Get Rating) last posted its earnings results on Tuesday, November 1st. The company reported $0.97 EPS for the quarter, missing the consensus estimate of $0.99 by ($0.02). The firm had revenue of $19.13 billion during the quarter, compared to the consensus estimate of $18.63 billion. Sysco had a net margin of 2.03% and a return on equity of 137.76%. On average, equities research analysts predict that Sysco Co. will post 4.16 EPS for the current year.

Sysco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 27th. Shareholders of record on Friday, January 6th will be given a $0.49 dividend. The ex-dividend date is Thursday, January 5th. This represents a $1.96 annualized dividend and a yield of 2.50%. Sysco's dividend payout ratio is presently 69.50%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SYY. Argus upped their price objective on Sysco from $92.00 to $96.00 and gave the company a "buy" rating in a report on Wednesday, November 2nd. Barclays reduced their target price on Sysco from $100.00 to $92.00 and set an "overweight" rating on the stock in a report on Thursday, October 20th. StockNews.com lowered Sysco from a "strong-buy" rating to a "buy" rating in a report on Tuesday. Stephens assumed coverage on Sysco in a report on Thursday, September 22nd. They set an "overweight" rating and a $90.00 target price on the stock. Finally, Morgan Stanley increased their target price on Sysco from $84.00 to $86.00 and gave the stock an "equal weight" rating in a report on Wednesday, November 2nd. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $92.00.

Sysco Profile

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Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products primarily to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.