Seelaus Asset Management LLC Invests $536,000 in Sysco Co. (NYSE:SYY)

Seelaus Asset Management LLC acquired a new position in shares of Sysco Co. (NYSE:SYYGet Rating) in the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 6,565 shares of the company’s stock, valued at approximately $536,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of SYY. Norges Bank acquired a new stake in shares of Sysco during the fourth quarter worth $356,291,000. BlackRock Inc. increased its position in shares of Sysco by 5.6% during the fourth quarter. BlackRock Inc. now owns 31,519,868 shares of the company’s stock worth $2,475,887,000 after buying an additional 1,677,431 shares during the period. Lazard Asset Management LLC grew its holdings in Sysco by 8.4% in the fourth quarter. Lazard Asset Management LLC now owns 13,020,585 shares of the company’s stock worth $1,022,765,000 after purchasing an additional 1,009,837 shares during the period. Ceredex Value Advisors LLC acquired a new stake in Sysco in the fourth quarter worth $74,540,000. Finally, American Century Companies Inc. grew its holdings in Sysco by 9.3% in the fourth quarter. American Century Companies Inc. now owns 6,622,309 shares of the company’s stock worth $520,183,000 after purchasing an additional 562,270 shares during the period. Institutional investors own 80.64% of the company’s stock.

In other Sysco news, CEO Kevin Hourican sold 75,018 shares of Sysco stock in a transaction dated Friday, April 8th. The shares were sold at an average price of $86.00, for a total value of $6,451,548.00. Following the sale, the chief executive officer now owns 88,477 shares of the company’s stock, valued at $7,609,022. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Aaron E. Alt acquired 1,000 shares of the stock in a transaction on Tuesday, June 21st. The stock was bought at an average cost of $80.09 per share, for a total transaction of $80,090.00. Following the transaction, the chief financial officer now owns 14,220 shares of the company’s stock, valued at approximately $1,138,879.80. The disclosure for this purchase can be found here. Insiders own 0.31% of the company’s stock.

SYY opened at $78.30 on Thursday. The company has a debt-to-equity ratio of 8.03, a current ratio of 1.24 and a quick ratio of 0.72. The company’s 50-day moving average is $83.58 and its 200 day moving average is $81.18. Sysco Co. has a fifty-two week low of $68.05 and a fifty-two week high of $91.53. The firm has a market capitalization of $39.89 billion, a P/E ratio of 40.36, a PEG ratio of 2.25 and a beta of 1.15.

Sysco (NYSE:SYYGet Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.17. Sysco had a net margin of 1.52% and a return on equity of 100.62%. The company had revenue of $16.90 billion for the quarter, compared to analyst estimates of $15.99 billion. During the same period last year, the firm earned $0.22 earnings per share. The firm’s revenue was up 42.9% on a year-over-year basis. On average, equities research analysts expect that Sysco Co. will post 3.23 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 22nd. Investors of record on Friday, July 1st will be given a dividend of $0.49 per share. This is a positive change from Sysco’s previous quarterly dividend of $0.47. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Thursday, June 30th. Sysco’s dividend payout ratio (DPR) is presently 96.91%.

A number of research firms have commented on SYY. Deutsche Bank Aktiengesellschaft raised their price target on shares of Sysco from $82.00 to $84.00 in a report on Wednesday, May 11th. Barclays reduced their price target on shares of Sysco from $102.00 to $97.00 and set an “overweight” rating for the company in a report on Thursday, June 9th. CL King started coverage on shares of Sysco in a report on Friday, March 11th. They issued a “neutral” rating for the company. JPMorgan Chase & Co. upgraded shares of Sysco from a “neutral” rating to an “overweight” rating and set a $98.00 price objective for the company in a report on Thursday, May 26th. Finally, Piper Sandler lifted their price objective on shares of Sysco from $83.00 to $90.00 and gave the company an “overweight” rating in a report on Friday, April 8th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Sysco presently has an average rating of “Moderate Buy” and an average price target of $93.67.

Sysco Profile (Get Rating)

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products primarily to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.

See Also

Want to see what other hedge funds are holding SYY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sysco Co. (NYSE:SYYGet Rating).

Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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