Element Capital Management LLC bought a new stake 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 firm bought 743,114 shares of the company’s stock, valued at approximately $45,129,000. Sysco makes up about 0.9% of Element Capital Management LLC’s holdings, making the stock its 23rd largest position. Element Capital Management LLC owned about 0.14% of Sysco as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also made changes to their positions in the company. Vident Investment Advisory LLC purchased a new position in shares of Sysco during the 3rd quarter valued at approximately $393,000. Chicago Partners Investment Group LLC lifted its position in shares of Sysco by 637.5% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 5,900 shares of the company’s stock valued at $318,000 after buying an additional 5,100 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Sysco by 1.7% during the 4th quarter. Deutsche Bank AG now owns 2,691,367 shares of the company’s stock valued at $163,438,000 after buying an additional 45,042 shares in the last quarter. Quantum Capital Management purchased a new position in shares of Sysco during the 3rd quarter valued at approximately $863,000. Finally, California Public Employees Retirement System lifted its position in shares of Sysco by 5.7% during the 3rd quarter. California Public Employees Retirement System now owns 1,348,829 shares of the company’s stock valued at $72,769,000 after buying an additional 72,800 shares in the last quarter. Hedge funds and other institutional investors own 79.03% of the company’s stock.
Shares of SYY opened at $59.72 on Friday. Sysco has a 52-week low of $48.85 and a 52-week high of $64.27. The firm has a market capitalization of $31,476.92, a price-to-earnings ratio of 24.08, a P/E/G ratio of 2.04 and a beta of 0.55. The company has a debt-to-equity ratio of 3.66, a current ratio of 1.38 and a quick ratio of 0.85.
Sysco (NYSE:SYY) last issued its earnings results on Monday, February 5th. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. Sysco had a return on equity of 61.02% and a net margin of 2.10%. The business had revenue of $14.41 billion during the quarter, compared to the consensus estimate of $14.15 billion. During the same period last year, the company earned $0.58 EPS. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. sell-side analysts forecast that Sysco will post 2.93 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Shareholders of record on Friday, April 6th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Thursday, April 5th. Sysco’s dividend payout ratio (DPR) is presently 58.06%.
A number of research analysts have recently issued reports on SYY shares. Loop Capital increased their target price on Sysco to $68.00 and gave the company a “buy” rating in a research report on Monday, December 11th. Pivotal Research increased their price objective on Sysco from $53.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, December 12th. Zacks Investment Research raised Sysco from a “hold” rating to a “strong-buy” rating and set a $71.00 price objective for the company in a research note on Wednesday, January 10th. Morgan Stanley raised Sysco from an “underweight” rating to an “equal weight” rating and set a $64.00 price objective for the company in a research note on Tuesday, January 16th. Finally, Jefferies Group set a $67.00 price objective on Sysco and gave the company a “hold” rating in a research note on Monday, February 5th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Sysco currently has an average rating of “Hold” and a consensus target price of $65.00.
In related news, SVP Greg D. Bertrand sold 81,038 shares of the firm’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $60.76, for a total transaction of $4,923,868.88. Following the completion of the sale, the senior vice president now directly owns 69,721 shares of the company’s stock, valued at approximately $4,236,247.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP William W. Goetz sold 11,323 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $62.00, for a total value of $702,026.00. Following the sale, the senior vice president now directly owns 35,825 shares of the company’s stock, valued at $2,221,150. The disclosure for this sale can be found here. Insiders sold a total of 151,370 shares of company stock valued at $9,203,507 over the last ninety days. Corporate insiders own 9.60% of the company’s stock.
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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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