Nuance Investments LLC Invests $5.89 Million in Sysco Corporation (SYY) Stock
Nuance Investments LLC bought a new position in Sysco Corporation (NYSE:SYY) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 117,044 shares of the company’s stock, valued at approximately $5,891,000.
Other institutional investors have also recently made changes to their positions in the company. Delta Lloyd Asset Management N.V. purchased a new stake in shares of Sysco Corporation during the second quarter worth about $10,096,000. Swiss National Bank grew its stake in shares of Sysco Corporation by 5.8% during the second quarter. Swiss National Bank now owns 2,155,440 shares of the company’s stock worth $108,483,000 after acquiring an additional 118,300 shares during the last quarter. Evanston Investments Inc. dba Evanston Advisors grew its stake in shares of Sysco Corporation by 1.4% during the second quarter. Evanston Investments Inc. dba Evanston Advisors now owns 146,795 shares of the company’s stock worth $7,388,000 after acquiring an additional 2,064 shares during the last quarter. ARGI Investment Services LLC grew its stake in shares of Sysco Corporation by 7.2% during the second quarter. ARGI Investment Services LLC now owns 17,273 shares of the company’s stock worth $869,000 after acquiring an additional 1,155 shares during the last quarter. Finally, Commerce Bank grew its stake in shares of Sysco Corporation by 22.3% during the second quarter. Commerce Bank now owns 84,964 shares of the company’s stock worth $4,276,000 after acquiring an additional 15,468 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.
Shares of Sysco Corporation (SYY) opened at 53.37 on Friday. The firm has a 50-day moving average price of $52.31 and a 200 day moving average price of $52.57. The stock has a market cap of $28.17 billion, a price-to-earnings ratio of 25.66 and a beta of 0.52. Sysco Corporation has a 52-week low of $47.15 and a 52-week high of $57.07.
Sysco Corporation (NYSE:SYY) last announced its earnings results on Monday, August 14th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.01. Sysco Corporation had a return on equity of 53.25% and a net margin of 2.06%. The company had revenue of $14.40 billion for the quarter, compared to the consensus estimate of $14.35 billion. During the same period last year, the business posted $0.64 EPS. The company’s revenue was up 5.5% on a year-over-year basis. Analysts expect that Sysco Corporation will post $2.76 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 6th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.32 annualized dividend and a dividend yield of 2.47%. Sysco Corporation’s dividend payout ratio (DPR) is currently 63.16%.
A number of equities research analysts have recently weighed in on the company. BidaskClub lowered Sysco Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. BMO Capital Markets restated an “outperform” rating on shares of Sysco Corporation in a research note on Tuesday, September 12th. Wells Fargo & Company restated a “buy” rating on shares of Sysco Corporation in a research note on Friday, June 23rd. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $57.00 target price on shares of Sysco Corporation in a research report on Friday, June 23rd. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $51.00 target price on shares of Sysco Corporation in a research report on Friday, August 4th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $56.17.
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In other Sysco Corporation news, EVP Wayne Shurts sold 7,800 shares of Sysco Corporation stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $50.82, for a total value of $396,396.00. Following the transaction, the executive vice president now directly owns 58,776 shares in the company, valued at approximately $2,986,996.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William J. Delaney III sold 30,000 shares of Sysco Corporation stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $49.92, for a total value of $1,497,600.00. Following the completion of the transaction, the chief executive officer now owns 406,725 shares in the company, valued at $20,303,712. The disclosure for this sale can be found here. Insiders sold a total of 1,724,714 shares of company stock worth $92,456,142 over the last quarter. Company insiders own 8.81% of the company’s stock.
Sysco Corporation Profile
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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