Strategic Global Advisors LLC Buys Shares of 3,925 Sysco Corporation (SYY)

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.

In related news, Director Trian Fund Management, L.P. sold 372,314 shares of Sysco stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $53.09, for a total value of $19,766,150.26. Following the completion of the transaction, the director now directly owns 5,529 shares in the company, valued at $293,534.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Wayne Shurts sold 7,800 shares of Sysco stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $54.86, for a total value of $427,908.00. Following the completion of the transaction, the executive vice president now owns 58,776 shares of the company’s stock, valued at $3,224,451.36. The disclosure for this sale can be found here. Insiders have sold 2,237,981 shares of company stock valued at $120,454,412 over the last 90 days. Insiders own 9.60% of the company’s stock.

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%.

COPYRIGHT VIOLATION NOTICE: “Strategic Global Advisors LLC Buys Shares of 3,925 Sysco Corporation (SYY)” was first posted by Community Financial News and is owned by of Community Financial News. If you are accessing this news story on another website, it was illegally copied and republished in violation of US and international copyright legislation. The correct version of this news story can be viewed at https://www.com-unik.info/2017/12/03/strategic-global-advisors-llc-buys-shares-of-3925-sysco-corporation-syy.html.

About Sysco

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.

Institutional Ownership by Quarter for Sysco (NYSE:SYY)

What are top analysts saying about Sysco Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Sysco Corporation and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit