Brookfield Asset Management Inc. Grows Holdings in SYSCO Co. (SYY)

Brookfield Asset Management Inc. boosted its holdings in SYSCO Co. (NYSE:SYY) by 137.5% in the first quarter, HoldingsChannel.com reports. The firm owned 30,871 shares of the company’s stock after acquiring an additional 17,871 shares during the period. Brookfield Asset Management Inc.’s holdings in SYSCO were worth $1,851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. NEXT Financial Group Inc acquired a new position in SYSCO in the first quarter worth $252,000. Tuttle Tactical Management boosted its holdings in SYSCO by 372.5% in the first quarter. Tuttle Tactical Management now owns 28,447 shares of the company’s stock worth $1,705,000 after purchasing an additional 22,426 shares during the period. Private Capital Group LLC boosted its holdings in SYSCO by 970.2% in the first quarter. Private Capital Group LLC now owns 2,044 shares of the company’s stock worth $123,000 after purchasing an additional 1,853 shares during the period. WealthPLAN Partners LLC boosted its holdings in SYSCO by 62.8% in the first quarter. WealthPLAN Partners LLC now owns 26,018 shares of the company’s stock worth $1,560,000 after purchasing an additional 10,039 shares during the period. Finally, Rainier Group Investment Advisory LLC acquired a new position in SYSCO in the first quarter worth $156,000. 79.86% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Trian Fund Management, L.P. sold 2,278,939 shares of SYSCO stock in a transaction dated Thursday, June 14th. The shares were sold at an average price of $66.14, for a total transaction of $150,729,025.46. Following the sale, the director now directly owns 4,657 shares in the company, valued at $308,013.98. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard G. Tilghman sold 5,000 shares of SYSCO stock in a transaction dated Monday, April 16th. The shares were sold at an average price of $60.62, for a total transaction of $303,100.00. Following the sale, the director now owns 85,864 shares in the company, valued at $5,205,075.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,153,196 shares of company stock worth $208,353,443. Company insiders own 9.60% of the company’s stock.

SYY stock opened at $66.90 on Wednesday. The company has a current ratio of 1.44, a quick ratio of 0.90 and a debt-to-equity ratio of 3.76. The firm has a market capitalization of $34.85 billion, a price-to-earnings ratio of 26.98, a P/E/G ratio of 2.15 and a beta of 0.57. SYSCO Co. has a 1 year low of $48.85 and a 1 year high of $66.97.

SYSCO (NYSE:SYY) last posted its earnings results on Monday, May 7th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. The company had revenue of $14.35 billion for the quarter, compared to analysts’ expectations of $14.32 billion. SYSCO had a return on equity of 64.33% and a net margin of 2.23%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same period last year, the business posted $0.51 earnings per share. analysts predict that SYSCO Co. will post 2.98 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 27th. Investors of record on Friday, July 6th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend is Thursday, July 5th. SYSCO’s dividend payout ratio is currently 58.06%.

A number of equities analysts have commented on the stock. Citigroup lifted their price objective on shares of SYSCO from $67.00 to $69.00 and gave the stock a “neutral” rating in a report on Tuesday. Morgan Stanley reaffirmed a “hold” rating and issued a $61.00 price objective (down previously from $64.00) on shares of SYSCO in a report on Tuesday, May 8th. Pivotal Research set a $58.00 target price on SYSCO and gave the company a “hold” rating in a research note on Tuesday, May 8th. Zacks Investment Research cut SYSCO from a “buy” rating to a “hold” rating in a research note on Wednesday, March 14th. Finally, Credit Suisse Group initiated coverage on SYSCO in a research note on Tuesday, April 17th. They issued an “outperform” rating and a $68.00 target price on the stock. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. SYSCO presently has a consensus rating of “Hold” and a consensus target price of $66.18.

SYSCO Profile

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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Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

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