Tuttle Tactical Management lifted its holdings in shares of SYSCO Co. (NYSE:SYY) by 372.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,447 shares of the company’s stock after buying an additional 22,426 shares during the period. SYSCO makes up 1.4% of Tuttle Tactical Management’s portfolio, making the stock its 22nd biggest position. Tuttle Tactical Management’s holdings in SYSCO were worth $1,705,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in SYY. Private Capital Group LLC boosted its position in shares of SYSCO by 970.2% during the first quarter. Private Capital Group LLC now owns 2,044 shares of the company’s stock valued at $123,000 after buying an additional 1,853 shares during the last quarter. Centaurus Financial Inc. purchased a new stake in shares of SYSCO during the first quarter valued at $129,000. Valeo Financial Advisors LLC boosted its position in shares of SYSCO by 98.7% during the fourth quarter. Valeo Financial Advisors LLC now owns 2,267 shares of the company’s stock valued at $138,000 after buying an additional 1,126 shares during the last quarter. Bedel Financial Consulting Inc. purchased a new stake in shares of SYSCO during the first quarter valued at $145,000. Finally, Centerpoint Advisors LLC purchased a new stake in shares of SYSCO during the first quarter valued at $149,000. 79.86% of the stock is currently owned by institutional investors.
SYSCO traded down $0.24, hitting $66.65, on Monday, Marketbeat reports. The stock had a trading volume of 29,721 shares, compared to its average volume of 2,032,730. The stock has a market capitalization of $34.85 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 2.15 and a beta of 0.57. The company has a debt-to-equity ratio of 3.76, a quick ratio of 0.90 and a current ratio of 1.44. SYSCO Co. has a 52-week low of $48.85 and a 52-week high of $66.96.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 27th. Stockholders of record on Friday, July 6th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend is Thursday, July 5th. SYSCO’s dividend payout ratio (DPR) is currently 58.06%.
In other news, Director Richard G. Tilghman sold 5,000 shares of the firm’s stock in a transaction dated Monday, April 16th. The stock was sold at an average price of $60.62, for a total value of $303,100.00. Following the transaction, the director now owns 85,864 shares of the company’s stock, valued at $5,205,075.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul T. Moskowitz sold 30,667 shares of the firm’s stock in a transaction dated Wednesday, April 18th. The stock was sold at an average price of $62.50, for a total value of $1,916,687.50. Following the completion of the transaction, the insider now directly owns 58,329 shares in the company, valued at approximately $3,645,562.50. The disclosure for this sale can be found here. Insiders sold 3,153,196 shares of company stock worth $208,353,443 in the last ninety days. Corporate insiders own 9.60% of the company’s stock.
Several equities research analysts recently commented on SYY shares. Citigroup increased their price objective on SYSCO from $60.00 to $63.00 and gave the company a “neutral” rating in a research report on Tuesday, March 27th. Credit Suisse Group assumed coverage on SYSCO in a research report on Tuesday, April 17th. They issued an “outperform” rating and a $68.00 target price on the stock. Zacks Investment Research cut SYSCO from a “buy” rating to a “hold” rating in a research report on Wednesday, March 14th. Morgan Stanley reissued a “hold” rating and issued a $61.00 target price (down from $64.00) on shares of SYSCO in a research report on Tuesday, May 8th. Finally, Pivotal Research dropped their target price on SYSCO from $61.00 to $56.00 and set a “buy” rating on the stock in a research report on Wednesday, May 2nd. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $65.64.
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 in the United States, Canada, Bahamas, Mexico, Costa Rica, Panama, the United Kingdom, France, Sweden, Ireland, Belgium, Spain, and Luxembourg.
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