Schwab Charles Investment Management Inc. Purchases 26,180 Shares of Sysco Corporation (SYY)
Schwab Charles Investment Management Inc. lifted its position in shares of Sysco Corporation (NYSE:SYY) by 1.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,799,355 shares of the company’s stock after buying an additional 26,180 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.35% of Sysco worth $97,076,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Exane Derivatives grew its position in shares of Sysco by 137.8% during the 3rd quarter. Exane Derivatives now owns 48,699 shares of the company’s stock worth $2,627,000 after buying an additional 28,217 shares in the last quarter. Sei Investments Co. grew its position in shares of Sysco by 29.3% during the 2nd quarter. Sei Investments Co. now owns 238,395 shares of the company’s stock worth $11,998,000 after buying an additional 54,078 shares in the last quarter. BARING ASSET MANAGEMENT Ltd grew its position in shares of Sysco by 15.5% during the 2nd quarter. BARING ASSET MANAGEMENT Ltd now owns 28,118 shares of the company’s stock worth $1,415,000 after buying an additional 3,773 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Sysco by 20.3% during the 2nd quarter. Victory Capital Management Inc. now owns 2,917,645 shares of the company’s stock worth $146,845,000 after buying an additional 491,398 shares in the last quarter. Finally, Stifel Financial Corp grew its position in shares of Sysco by 21.8% during the 2nd quarter. Stifel Financial Corp now owns 1,093,476 shares of the company’s stock worth $55,001,000 after buying an additional 195,903 shares in the last quarter. 80.28% of the stock is currently owned by institutional investors and hedge funds.
Sysco Corporation (NYSE SYY) traded up $0.05 during trading on Friday, reaching $57.78. The company’s stock had a trading volume of 2,178,988 shares, compared to its average volume of 2,513,998. 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 52 week low of $48.85 and a 52 week high of $58.67. The stock has a market capitalization of $30,080.58, a PE ratio of 22.64, a PEG ratio of 2.59 and a beta of 0.54.
Sysco (NYSE:SYY) last released its quarterly earnings results on Monday, November 6th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.02. Sysco had a return on equity of 58.47% and a net margin of 2.12%. The company had revenue of $14.65 billion during the quarter, compared to analysts’ expectations of $14.43 billion. During the same period last year, the business posted $0.67 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. equities research analysts predict that Sysco Corporation will post 2.77 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, January 5th will be paid a $0.36 dividend. The ex-dividend date is Thursday, January 4th. This is a boost from Sysco’s previous quarterly dividend of $0.33. This represents a $1.44 dividend on an annualized basis and a yield of 2.49%. Sysco’s dividend payout ratio (DPR) is 60.00%.
In other Sysco news, CEO William J. Delaney III sold 30,000 shares of the stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $53.16, for a total value of $1,594,800.00. Following the completion of the sale, the chief executive officer now directly owns 406,725 shares in the company, valued at $21,621,501. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Wayne Shurts sold 15,600 shares of the stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $56.66, for a total value of $883,896.00. Following the completion of the sale, the insider now owns 56,985 shares of the company’s stock, valued at $3,228,770.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,237,981 shares of company stock valued at $120,454,412. 9.60% of the stock is currently owned by company insiders.
A number of brokerages recently weighed in on SYY. Jefferies Group reaffirmed a “hold” rating and set a $51.00 price objective on shares of Sysco in a research report on Friday, August 4th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Sysco in a research report on Monday, August 14th. Zacks Investment Research downgraded Sysco from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Pivotal Research set a $53.00 price objective on Sysco and gave the company a “hold” rating in a research report on Sunday, August 13th. Finally, Royal Bank Of Canada set a $50.00 price objective on Sysco and gave the company a “hold” rating in a research report on Friday, August 11th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company. Sysco currently has an average rating of “Hold” and an average price target of $56.42.
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Sysco Company 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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