Seelaus Asset Management LLC acquired a new position in shares of Sysco Co. (NYSE:SYY – Get 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.
Sysco (NYSE:SYY – Get 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.
- Get a free copy of the StockNews.com research report on Sysco (SYY)
- Downturn Gives These 3 Buys Juicy Dividend Yields
- Victoria’s Secret Stock is Out of the Box
- Time For a Ride in Six Flags Stock
- Why Dollar General (NYSE: DG) Should Be In Your Portfolio
- Korn Ferry Is A Good Buy For The Recession And Beyond
Receive News & Ratings for Sysco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sysco and related companies with MarketBeat.com's FREE daily email newsletter.