Strategic Global Advisors LLC bought a new position in Sysco Corporation (NYSE:SYY) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,925 shares of the company’s stock, valued at approximately $212,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Exane Derivatives increased its holdings in Sysco by 137.8% in the 3rd quarter. Exane Derivatives now owns 48,699 shares of the company’s stock valued at $2,627,000 after purchasing an additional 28,217 shares in the last quarter. Sei Investments Co. increased its holdings in Sysco by 29.3% in the 2nd quarter. Sei Investments Co. now owns 238,395 shares of the company’s stock valued at $11,998,000 after purchasing an additional 54,078 shares in the last quarter. BARING ASSET MANAGEMENT Ltd increased its holdings in Sysco by 15.5% in the 2nd quarter. BARING ASSET MANAGEMENT Ltd now owns 28,118 shares of the company’s stock valued at $1,415,000 after purchasing an additional 3,773 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Sysco by 20.3% in the 2nd quarter. Victory Capital Management Inc. now owns 2,917,645 shares of the company’s stock valued at $146,845,000 after purchasing an additional 491,398 shares in the last quarter. Finally, Stifel Financial Corp increased its holdings in Sysco by 21.8% in the 2nd quarter. Stifel Financial Corp now owns 1,093,476 shares of the company’s stock valued at $55,001,000 after purchasing an additional 195,903 shares in the last quarter. 80.28% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently issued reports on SYY shares. Pivotal Research reiterated a “hold” rating and issued a $53.00 price target on shares of Sysco in a report on Sunday, November 5th. BMO Capital Markets reiterated an “outperform” rating on shares of Sysco in a report on Tuesday, September 12th. Zacks Investment Research downgraded Sysco from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Royal Bank Of Canada set a $50.00 price target on Sysco and gave the company a “hold” rating in a report on Friday, August 11th. Finally, Wells Fargo & Company reiterated a “buy” rating on shares of Sysco in a report on Monday, August 14th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Sysco presently has a consensus rating of “Hold” and a consensus target price of $56.42.
Shares of Sysco Corporation (NYSE SYY) traded up $0.04 during trading on Friday, hitting $57.78. The stock had a trading volume of 2,180,000 shares, compared to its average volume of 2,513,998. The company has a quick ratio of 0.88, a current ratio of 1.40 and a debt-to-equity ratio of 3.77. The firm has a market capitalization of $30,106.62, a P/E ratio of 22.66, a PEG ratio of 2.59 and a beta of 0.54. Sysco Corporation has a 12 month low of $48.85 and a 12 month high of $58.67.
Sysco (NYSE:SYY) last announced its earnings results on Monday, November 6th. The company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.02. The company had revenue of $14.65 billion during the quarter, compared to the consensus estimate of $14.43 billion. Sysco had a return on equity of 58.47% and a net margin of 2.12%. The company’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the firm earned $0.67 earnings per share. sell-side analysts expect that Sysco Corporation will post 2.77 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Friday, January 5th will be paid a dividend of $0.36 per share. The ex-dividend date is Thursday, January 4th. This is an increase from Sysco’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a dividend yield of 2.49%. Sysco’s dividend payout ratio (DPR) is currently 60.00%.
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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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