Quantbot Technologies LP Has $1.10 Million Stake in Sysco Corporation (SYY)
Quantbot Technologies LP lowered its position in Sysco Corporation (NYSE:SYY) by 72.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,348 shares of the company’s stock after selling 52,267 shares during the period. Quantbot Technologies LP’s holdings in Sysco Corporation were worth $1,097,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Sysco Corporation by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 38,501,911 shares of the company’s stock worth $1,937,801,000 after buying an additional 590,968 shares during the last quarter. BlackRock Inc. grew its position in shares of Sysco Corporation by 0.3% in the 2nd quarter. BlackRock Inc. now owns 32,291,082 shares of the company’s stock worth $1,625,211,000 after buying an additional 83,464 shares during the last quarter. State Street Corp grew its position in shares of Sysco Corporation by 1.0% in the 2nd quarter. State Street Corp now owns 26,707,981 shares of the company’s stock worth $1,344,209,000 after buying an additional 272,303 shares during the last quarter. Capital World Investors grew its position in shares of Sysco Corporation by 11.7% in the 2nd quarter. Capital World Investors now owns 13,767,000 shares of the company’s stock worth $692,893,000 after buying an additional 1,445,000 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of Sysco Corporation by 4.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 10,242,998 shares of the company’s stock worth $515,484,000 after buying an additional 405,191 shares during the last quarter. 79.70% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO William J. Delaney III sold 30,000 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $51.31, for a total value of $1,539,300.00. Following the completion of the transaction, the chief executive officer now directly owns 406,725 shares in the company, valued at approximately $20,869,059.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Wayne Shurts sold 7,800 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $51.52, for a total transaction of $401,856.00. Following the completion of the transaction, the executive vice president now owns 58,776 shares of the company’s stock, valued at $3,028,139.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,275,781 shares of company stock valued at $122,319,128. Company insiders own 9.60% of the company’s stock.
Shares of Sysco Corporation (NYSE SYY) traded down $0.11 during midday trading on Tuesday, reaching $54.86. 233,516 shares of the company’s stock traded hands, compared to its average volume of 2,912,009. The company has a debt-to-equity ratio of 3.77, a quick ratio of 0.88 and a current ratio of 1.40. Sysco Corporation has a twelve month low of $48.85 and a twelve month high of $57.23. The firm has a market cap of $28,600.00, a PE ratio of 21.52, a price-to-earnings-growth ratio of 2.46 and a beta of 0.53.
Sysco Corporation (NYSE:SYY) last announced its quarterly earnings data on Monday, November 6th. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.72 by $0.02. Sysco Corporation had a net margin of 2.12% and a return on equity of 58.47%. The business had revenue of $14.65 billion during the quarter, compared to analysts’ expectations of $14.43 billion. During the same period in the previous year, the business posted $0.67 EPS. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. sell-side analysts forecast that Sysco Corporation will post 2.77 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, January 5th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.62%. This is a boost from Sysco Corporation’s previous quarterly dividend of $0.33. The ex-dividend date is Thursday, January 4th. Sysco Corporation’s payout ratio is presently 60.27%.
A number of brokerages have recently issued reports on SYY. Wells Fargo & Company reaffirmed a “buy” rating on shares of Sysco Corporation in a research report on Monday, August 14th. Zacks Investment Research raised shares of Sysco Corporation from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Tuesday, October 10th. BMO Capital Markets set a $60.00 target price on shares of Sysco Corporation and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Pivotal Research set a $53.00 target price on shares of Sysco Corporation and gave the stock a “hold” rating in a research report on Sunday, August 13th. Finally, Royal Bank Of Canada set a $50.00 target price on shares of Sysco Corporation and gave the stock a “hold” rating in a research report on Friday, August 11th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Sysco Corporation has a consensus rating of “Hold” and an average price target of $56.42.
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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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