Captrust Financial Advisors bought a new position in shares of Sysco (NYSE:SYY) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 7,898 shares of the company’s stock, valued at approximately $480,000.
Several other hedge funds have also recently bought and sold shares of the business. Ameriprise Financial Inc. lifted its holdings in shares of Sysco by 2.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 10,451,813 shares of the company’s stock valued at $563,890,000 after buying an additional 208,815 shares during the period. Parnassus Investments CA raised its holdings in Sysco by 1.8% in the 4th quarter. Parnassus Investments CA now owns 7,547,366 shares of the company’s stock worth $458,352,000 after purchasing an additional 136,965 shares during the period. American Century Companies Inc. raised its holdings in Sysco by 7.5% in the 4th quarter. American Century Companies Inc. now owns 6,578,176 shares of the company’s stock worth $399,493,000 after purchasing an additional 457,259 shares during the period. Janus Henderson Group PLC raised its holdings in Sysco by 4.6% in the 3rd quarter. Janus Henderson Group PLC now owns 5,969,351 shares of the company’s stock worth $322,047,000 after purchasing an additional 261,748 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Sysco by 0.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 5,707,166 shares of the company’s stock worth $307,903,000 after purchasing an additional 51,159 shares during the period. Hedge funds and other institutional investors own 79.03% of the company’s stock.
In other Sysco news, SVP Greg D. Bertrand sold 81,038 shares of the company’s stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $60.76, for a total value of $4,923,868.88. Following the sale, the senior vice president now directly owns 69,721 shares of the company’s stock, valued at $4,236,247.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard G. Tilghman sold 5,000 shares of the company’s stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $59.80, for a total transaction of $299,000.00. Following the completion of the transaction, the director now owns 90,552 shares of the company’s stock, valued at approximately $5,415,009.60. The disclosure for this sale can be found here. Insiders have sold 151,370 shares of company stock worth $9,203,507 over the last three months. Corporate insiders own 9.60% of the company’s stock.
NYSE:SYY traded down $0.59 during trading hours on Friday, reaching $59.72. The company’s stock had a trading volume of 3,295,671 shares, compared to its average volume of 2,874,041. The company has a market capitalization of $31,946.65, a price-to-earnings ratio of 24.08, a price-to-earnings-growth ratio of 2.07 and a beta of 0.55. Sysco has a 12 month low of $48.85 and a 12 month high of $64.27. The company has a quick ratio of 0.85, a current ratio of 1.38 and a debt-to-equity ratio of 3.66.
Sysco (NYSE:SYY) last released its quarterly earnings results on Monday, February 5th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. Sysco had a net margin of 2.10% and a return on equity of 61.02%. The business had revenue of $14.41 billion for the quarter, compared to analyst estimates of $14.15 billion. During the same period in the previous year, the company earned $0.58 earnings per share. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. sell-side analysts expect that Sysco will post 2.93 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 27th. Stockholders of record on Friday, April 6th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Thursday, April 5th. Sysco’s dividend payout ratio (DPR) is presently 58.06%.
A number of equities research analysts have commented on the company. Loop Capital decreased their price target on Sysco from $72.00 to $70.00 and set a “buy” rating on the stock in a report on Tuesday, February 6th. Zacks Investment Research upgraded Sysco from a “hold” rating to a “strong-buy” rating and set a $71.00 price objective for the company in a research report on Wednesday, January 10th. Bank of America raised their price objective on Sysco from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. Jefferies Group set a $67.00 price objective on Sysco and gave the company a “hold” rating in a research report on Monday, February 5th. Finally, Pivotal Research dropped their price target on Sysco from $68.00 to $61.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $65.00.
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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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