Tokio Marine Asset Management Co. Ltd. trimmed its stake in shares of SYSCO Co. (NYSE:SYY) by 58.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,494 shares of the company’s stock after selling 67,323 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in SYSCO were worth $2,884,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently modified their holdings of the company. First Personal Financial Services increased its holdings in SYSCO by 293.2% in the third quarter. First Personal Financial Services now owns 1,962 shares of the company’s stock worth $106,000 after purchasing an additional 1,463 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in SYSCO by 465.7% in the third quarter. Advisors Asset Management Inc. now owns 2,783 shares of the company’s stock worth $150,000 after purchasing an additional 2,291 shares in the last quarter. Thompson Siegel & Walmsley LLC increased its holdings in SYSCO by 51.9% in the third quarter. Thompson Siegel & Walmsley LLC now owns 2,926 shares of the company’s stock worth $158,000 after purchasing an additional 1,000 shares in the last quarter. Scott & Selber Inc. bought a new stake in SYSCO in the fourth quarter worth approximately $200,000. Finally, Sowell Financial Services LLC bought a new stake in SYSCO in the fourth quarter worth approximately $206,000. Institutional investors own 79.35% of the company’s stock.
Shares of SYSCO Co. (NYSE:SYY) traded down $0.07 during trading hours on Wednesday, hitting $58.35. The company had a trading volume of 2,550,968 shares, compared to its average volume of 2,740,131. The stock has a market capitalization of $30,390.00, a PE ratio of 26.18, a price-to-earnings-growth ratio of 1.95 and a beta of 0.56. The company has a debt-to-equity ratio of 3.66, a quick ratio of 0.85 and a current ratio of 1.38. SYSCO Co. has a one year low of $48.85 and a one year high of $64.27.
SYSCO (NYSE:SYY) last announced its earnings results on Monday, February 5th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The company had revenue of $14.41 billion for the quarter, compared to analysts’ expectations of $14.15 billion. SYSCO had a return on equity of 61.02% and a net margin of 2.10%. SYSCO’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.58 earnings per share. analysts anticipate that SYSCO Co. will post 2.95 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 26th. Shareholders of record on Friday, January 5th were given a $0.36 dividend. The ex-dividend date was Thursday, January 4th. This represents a $1.44 annualized dividend and a yield of 2.47%. This is a boost from SYSCO’s previous quarterly dividend of $0.33. SYSCO’s payout ratio is currently 64.57%.
In other SYSCO news, SVP Greg D. Bertrand sold 81,038 shares of the business’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $60.76, for a total value of $4,923,868.88. Following the transaction, the senior vice president now owns 69,721 shares of the company’s stock, valued at $4,236,247.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Wayne Shurts sold 7,800 shares of the business’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $61.76, for a total value of $481,728.00. Following the completion of the transaction, the executive vice president now directly owns 55,235 shares in the company, valued at approximately $3,411,313.60. The disclosure for this sale can be found here. In the last three months, insiders sold 144,695 shares of company stock worth $8,759,223. Insiders own 9.60% of the company’s stock.
SYY has been the subject of several recent research reports. Bank of America boosted their price objective on SYSCO from $68.00 to $70.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Loop Capital decreased their price objective on SYSCO from $72.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. Pivotal Research decreased their price objective on SYSCO from $68.00 to $61.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. Royal Bank of Canada restated a “sector perform” rating and set a $61.00 price objective on shares of SYSCO in a report on Tuesday, February 6th. Finally, BMO Capital Markets set a $74.00 price objective on SYSCO and gave the company a “buy” rating in a report on Monday, February 5th. Six analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $65.20.
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Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.
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