HM Payson & Co. increased its position in shares of SYSCO Co. (NYSE:SYY) by 7.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,920 shares of the company’s stock after buying an additional 2,417 shares during the period. HM Payson & Co.’s holdings in SYSCO were worth $2,181,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. increased its stake in SYSCO by 2.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 10,451,813 shares of the company’s stock worth $563,890,000 after buying an additional 208,815 shares during the period. Parnassus Investments CA increased its stake in SYSCO by 1.8% during the 4th quarter. Parnassus Investments CA now owns 7,547,366 shares of the company’s stock worth $458,352,000 after buying an additional 136,965 shares during the period. American Century Companies Inc. increased its stake in SYSCO by 7.5% during the 4th quarter. American Century Companies Inc. now owns 6,578,176 shares of the company’s stock worth $399,493,000 after buying an additional 457,259 shares during the period. Janus Henderson Group PLC increased its stake in SYSCO by 4.6% during the 3rd quarter. Janus Henderson Group PLC now owns 5,969,351 shares of the company’s stock worth $322,047,000 after buying an additional 261,748 shares during the period. Finally, Geode Capital Management LLC increased its stake in SYSCO by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 4,569,679 shares of the company’s stock worth $276,861,000 after buying an additional 24,517 shares during the period. 79.02% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Richard G. Tilghman sold 5,000 shares of SYSCO stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $59.80, for a total value of $299,000.00. Following the completion of the transaction, the director now directly owns 90,552 shares of the company’s stock, valued at approximately $5,415,009.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Wayne Shurts sold 7,800 shares of SYSCO stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $58.98, for a total transaction of $460,044.00. Following the completion of the transaction, the executive vice president now directly owns 55,235 shares of the company’s stock, valued at $3,257,760.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 164,704 shares of company stock valued at $10,012,748. 9.60% of the stock is owned by company insiders.
SYSCO stock opened at $60.30 on Thursday. The firm has a market cap of $31,539.55, a price-to-earnings ratio of 26.92, a price-to-earnings-growth ratio of 2.03 and a beta of 0.60. The company has a current ratio of 1.38, a quick ratio of 0.85 and a debt-to-equity ratio of 3.66. SYSCO Co. has a fifty-two week low of $48.85 and a fifty-two week high of $64.27.
SYSCO (NYSE:SYY) last announced its quarterly earnings data on Monday, February 5th. The company reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The company had revenue of $14.41 billion during the quarter, compared to analyst estimates of $14.15 billion. SYSCO had a net margin of 2.10% and a return on equity of 61.02%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the business earned $0.58 EPS. sell-side analysts predict that SYSCO Co. will post 2.95 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 27th. Shareholders of record on Friday, April 6th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Thursday, April 5th. SYSCO’s dividend payout ratio is currently 64.29%.
Several research firms recently issued reports on SYY. Zacks Investment Research downgraded shares of SYSCO from a “buy” rating to a “hold” rating in a research note on Wednesday, March 14th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $61.00 price target on shares of SYSCO in a research note on Tuesday, February 6th. Morgan Stanley raised shares of SYSCO from an “underweight” rating to an “equal weight” rating and set a $64.00 price target on the stock in a research note on Tuesday, January 16th. BMO Capital Markets set a $74.00 price target on shares of SYSCO and gave the stock a “buy” rating in a research note on Monday, February 5th. Finally, Pivotal Research dropped their price target on shares of SYSCO from $68.00 to $61.00 and set a “buy” rating on the stock in a research note on Tuesday, February 6th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. SYSCO presently has an average rating of “Hold” and a consensus 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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