River Road Asset Management LLC Takes $20.86 Million Position in Sysco Co. (NYSE:SYY)

River Road Asset Management LLC purchased a new stake in shares of Sysco Co. (NYSE:SYY) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 268,344 shares of the company’s stock, valued at approximately $20,864,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wagner Wealth Management LLC bought a new stake in shares of Sysco during the first quarter valued at about $39,000. Harbour Investments Inc. bought a new position in shares of Sysco in the first quarter worth approximately $40,000. Hexagon Capital Partners LLC increased its position in shares of Sysco by 68.9% in the first quarter. Hexagon Capital Partners LLC now owns 620 shares of the company’s stock worth $48,000 after purchasing an additional 253 shares during the last quarter. Berman Capital Advisors LLC increased its position in shares of Sysco by 34.2% in the first quarter. Berman Capital Advisors LLC now owns 686 shares of the company’s stock worth $53,000 after purchasing an additional 175 shares during the last quarter. Finally, tru Independence LLC bought a new position in shares of Sysco in the second quarter worth approximately $59,000. Hedge funds and other institutional investors own 79.81% of the company’s stock.

In other news, EVP Greg D. Bertrand sold 7,230 shares of the stock in a transaction that occurred on Friday, August 27th. The stock was sold at an average price of $80.00, for a total transaction of $578,400.00. Following the completion of the sale, the executive vice president now owns 32,238 shares of the company’s stock, valued at $2,579,040. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 5.17% of the company’s stock.

Several research firms recently weighed in on SYY. Barclays upped their price objective on shares of Sysco from $80.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Friday, May 21st. Morgan Stanley upped their price objective on shares of Sysco from $88.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Monday, May 24th. Finally, UBS Group assumed coverage on shares of Sysco in a research report on Thursday, July 29th. They set a “buy” rating and a $89.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Sysco currently has an average rating of “Hold” and an average price target of $85.78.

Shares of NYSE SYY opened at $75.52 on Wednesday. The stock has a market capitalization of $38.67 billion, a P/E ratio of 75.03, a PEG ratio of 2.44 and a beta of 1.45. Sysco Co. has a one year low of $53.85 and a one year high of $86.73. The company has a debt-to-equity ratio of 6.82, a current ratio of 1.47 and a quick ratio of 0.96. The firm’s 50 day simple moving average is $75.77 and its two-hundred day simple moving average is $78.77.

Sysco (NYSE:SYY) last released its quarterly earnings data on Monday, August 9th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.11. The firm had revenue of $16.14 billion during the quarter, compared to analyst estimates of $14.65 billion. Sysco had a return on equity of 52.19% and a net margin of 1.02%. The business’s quarterly revenue was up 82.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.29) earnings per share. As a group, equities analysts expect that Sysco Co. will post 3.49 earnings per share for the current fiscal year.

The business also recently disclosed a dividend, which will be paid on Thursday, September 30th. Stockholders of record on Thursday, September 16th will be paid a dividend of $0.47 per share. This represents a dividend yield of 2.4%. The ex-dividend date of this dividend is Wednesday, September 15th. Sysco’s dividend payout ratio (DPR) is presently 130.56%.

Sysco Company Profile

Sysco Corp. engages in selling, marketing, and distribution of food products to restaurants, healthcare and educational facilities, and lodging establishments. It operates through the following segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other. The U.S. Foodservice Operations consists of U.S.

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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