People s United Financial Inc. lessened its holdings in shares of SYSCO Co. (NYSE:SYY) by 2.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 53,111 shares of the company’s stock after selling 1,273 shares during the period. People s United Financial Inc.’s holdings in SYSCO were worth $3,891,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Smith Asset Management Group LP lifted its stake in shares of SYSCO by 5.6% during the second quarter. Smith Asset Management Group LP now owns 1,218,339 shares of the company’s stock worth $83,225,000 after buying an additional 64,867 shares during the period. Cognios Capital LLC lifted its stake in shares of SYSCO by 32.4% during the second quarter. Cognios Capital LLC now owns 54,165 shares of the company’s stock worth $3,697,000 after buying an additional 13,245 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of SYSCO during the second quarter worth $3,891,000. Fiera Capital Corp acquired a new stake in shares of SYSCO during the second quarter worth $506,000. Finally, Jennison Associates LLC acquired a new stake in shares of SYSCO during the second quarter worth $616,000. Institutional investors and hedge funds own 79.31% of the company’s stock.
In other SYSCO news, Director Trian Fund Management, L.P. sold 1,524,475 shares of SYSCO stock in a transaction on Wednesday, November 28th. The shares were sold at an average price of $66.50, for a total value of $101,377,587.50. Following the completion of the transaction, the director now owns 7,055 shares of the company’s stock, valued at $469,157.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joshua D. Frank sold 1,013,666 shares of SYSCO stock in a transaction on Monday, September 10th. The shares were sold at an average price of $75.09, for a total transaction of $76,116,179.94. Following the completion of the transaction, the director now directly owns 4,005 shares of the company’s stock, valued at approximately $300,735.45. The disclosure for this sale can be found here. Insiders have sold 6,884,031 shares of company stock valued at $484,008,301 over the last 90 days. 7.88% of the stock is currently owned by insiders.
NYSE SYY opened at $65.53 on Thursday. The firm has a market cap of $34.37 billion, a P/E ratio of 20.87, a price-to-earnings-growth ratio of 1.87 and a beta of 0.54. SYSCO Co. has a 1 year low of $56.01 and a 1 year high of $75.98. The company has a debt-to-equity ratio of 3.00, a current ratio of 1.30 and a quick ratio of 0.80.
SYSCO (NYSE:SYY) last posted its earnings results on Monday, November 5th. The company reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.01). The business had revenue of $15.22 billion for the quarter, compared to analyst estimates of $15.39 billion. SYSCO had a net margin of 2.52% and a return on equity of 68.81%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.74 earnings per share. On average, equities analysts predict that SYSCO Co. will post 3.4 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 25th. Investors of record on Friday, January 4th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, January 3rd. This is an increase from SYSCO’s previous quarterly dividend of $0.36. This represents a $1.56 dividend on an annualized basis and a yield of 2.38%. SYSCO’s payout ratio is currently 45.86%.
Several equities research analysts have recently commented on the stock. Pivotal Research lifted their price objective on shares of SYSCO from $58.00 to $62.00 and gave the stock a “sell” rating in a research note on Saturday, August 18th. Loop Capital lifted their price objective on shares of SYSCO to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, August 14th. Argus lifted their price objective on shares of SYSCO from $67.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, August 16th. BMO Capital Markets lifted their price objective on shares of SYSCO from $74.00 to $81.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 14th. Finally, Morgan Stanley boosted their target price on shares of SYSCO from $67.00 to $71.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $73.54.
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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. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.
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