Act Two Investors LLC, an investment firm based in the United States, has significantly increased its holdings in Sysco Co. (NYSE:SYY) during the first quarter of this year, according to their recent filing with the Securities & Exchange Commission. The company added 123,281 shares of Sysco Co.’s stock to its portfolio, leading to an impressive 835.7% increase overall. As a result, Act Two Investors LLC now owns a total of 138,033 shares of Sysco Co., making it their tenth largest position and accounting for approximately 4.2% of their holdings.
Based on Act Two Investors LLC’s most recent SEC filing, these additional shares are currently valued at $10,660,000. This significant investment indicates a strong belief in the potential growth and success of Sysco Co., one of the world’s leading distributors of foodservice products.
Sysco Co. recently announced that it will be distributing a quarterly dividend on Friday, October 27th. Shareholders who held positions as of Friday, October 6th will be eligible to receive a dividend payment of $0.50 per share. This dividend represents an annualized yield of 2.86%. However, investors should take note that Thursday, October 5th is the ex-dividend date for this particular payout.
It is worth noting that Sysco Co.’s payout ratio currently stands at 57.64%, indicating that the company allocates a significant portion of its earnings towards rewarding its shareholders through dividends.
This news comes at a time when investors in Sysco Co. are eagerly anticipating further updates and research reports on the company’s performance and outlook. Given the steady growth trajectory displayed by Act Two Investors LLC with regards to their holdings in Sysco Co., it suggests that other investors may also view this as an opportune time to consider investing or further expanding their existing positions in the company.
With Sysco Co.’s strong market position in the foodservice industry and its commitment to rewarding shareholders through dividends, it will be interesting to see how the company continues to evolve over the coming months. Investors and market observers will closely monitor any future developments that may influence investment decisions regarding Sysco Co.
As of this report’s publication date on September 10, 2023, investors can look forward to further research reports and analysis that aim to provide a comprehensive assessment of Sysco Co.’s performance, projected growth prospects, and overall financial health. Such information will serve as a valuable resource for investors who are looking to make well-informed decisions about their investments in the foodservice sector.
Sysco’s Stock Ownership and Acquisition Movement: Institutional Investors and Analyst Ratings
Sysco, a leading foodservice distribution company, has seen recent activity from institutional investors and hedge funds. Notably, Deutsche Bank AG increased its holdings in Sysco by 0.8% during the fourth quarter, acquiring an additional 6,175 shares. Their current ownership of 818,272 shares is valued at $62,557,000. Legacy Capital Wealth Partners LLC also acquired a new position in Sysco during the first quarter worth approximately $856,000.
Wendell David Associates Inc., on the other hand, witnessed a growth of 6.0% in their position in Sysco during the first quarter. They now own 67,935 shares valued at $5,247,000 after purchasing an additional 3,860 shares. Landscape Capital Management L.L.C. joined in by acquiring a new stake in Sysco worth approximately $343,000.
Meanwhile, Venture Visionary Partners LLC boosted its position in Sysco by 11.4% during the first quarter. With an additional purchase of 493 shares, their current ownership sits at 4,835 shares valued at $373,000. Overall, institutional investors and hedge funds own a significant majority (80.60%) of Sysco’s stock.
These developments have caught the attention of research analysts who have issued reports on SYY stock. StockNews.com recently started coverage with a “strong-buy” rating for the company. Stephens restated their “overweight” rating with a target price of $90.00 for Sysco. Barclays also upgraded their price target from $85 to $86 and gave an “overweight” rating to the company.
Morgan Stanley offered an “equal weight” rating and set a price objective of $79 for Sysco stock while Truist Financial lowered their price target from $88 to $87 and maintained a “buy” rating for the company.
Overall consensus from multiple analysts suggests a “Moderate Buy” rating for Sysco with a consensus price target of $86.91, according to Bloomberg data.
On September 10, 2023, Sysco was traded at $69.95 on the NYSE. The stock saw 2,496,224 shares exchanged, which was in line with the average volume of 2,366,241 shares. The company’s 50-day moving average stood at $72.75 while its two-hundred day moving average was at $73.78.
Sysco has a debt-to-equity ratio of 5.15 and current and quick ratios of 1.24 and 0.72 respectively. With a market capitalization of $35.32 billion, Sysco carries a price-to-earnings ratio of 20.16 and a P/E/G ratio of 1.29. Its beta stands at 1.11.
Sysco recently released its quarterly earnings results on August 1st, reporting earnings per share of $1.34 for the quarter. This surpassed analysts’ consensus estimates by $0.01.
With a return on equity of 133.27% and a net margin of 2.32%, Sysco generated revenue of $19.73 billion for the quarter compared to the estimated figure of $19.95 billion.
The company experienced a growth rate in revenue of 4.1% during the same period last year.
Industry research analysts predict that Sysco Co will post earnings per share of approximately $4.29 for the current fiscal year.
In conclusion, recent activities involving institutional investors and hedge funds have displayed an intriguing dynamic surrounding Sysco’s stock ownership and acquisition movement.
Notably, Deutsche Bank AG saw its holdings grow slightly during the fourth quarter,
while Legacy Capital Wealth Partners LLC joined as a new investor during Q1.
Wendell David Associates Inc witnessed an increase in its position, as did Landscape Capital Management L.L.C.,
and Venture Visionary Partners LLC also saw growth in their holdings.
These developments have garnered the attention of research analysts, with varied ratings ranging from “strong-buy” to “overweight” and “buy”.
Sysco’s stock is currently traded at $69.95 on the NYSE, and it will be interesting to see how these recent activities and ratings impact its future performance.