SYSCO Co. (SYY) Position Lifted by Trian Fund Management L.P.
Trian Fund Management L.P. increased its holdings in shares of SYSCO Co. (NYSE:SYY) by 0.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,840,642 shares of the company’s stock after purchasing an additional 341,590 shares during the period. SYSCO makes up 27.1% of Trian Fund Management L.P.’s holdings, making the stock its 2nd biggest position. Trian Fund Management L.P. owned approximately 8.61% of SYSCO worth $2,688,645,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Deutsche Bank AG raised its holdings in shares of SYSCO by 1.7% during the fourth quarter. Deutsche Bank AG now owns 2,691,367 shares of the company’s stock worth $163,438,000 after purchasing an additional 45,042 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of SYSCO by 6.8% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 65,788 shares of the company’s stock worth $3,995,000 after purchasing an additional 4,167 shares during the last quarter. AXA raised its holdings in shares of SYSCO by 2.2% during the fourth quarter. AXA now owns 445,779 shares of the company’s stock worth $27,073,000 after purchasing an additional 9,700 shares during the last quarter. MetLife Investment Advisors LLC purchased a new position in shares of SYSCO during the fourth quarter worth $9,008,000. Finally, Garde Capital Inc. grew its position in SYSCO by 6.8% during the fourth quarter. Garde Capital Inc. now owns 15,373 shares of the company’s stock valued at $934,000 after buying an additional 973 shares during the period. 80.02% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Paul T. Moskowitz sold 15,333 shares of SYSCO stock in a transaction dated Monday, May 7th. The shares were sold at an average price of $64.00, for a total value of $981,312.00. Following the sale, the insider now owns 58,328 shares in the company, valued at $3,732,992. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Richard G. Tilghman sold 5,000 shares of SYSCO stock in a transaction dated Monday, April 16th. The shares were sold at an average price of $60.62, for a total transaction of $303,100.00. Following the completion of the sale, the director now owns 85,864 shares in the company, valued at approximately $5,205,075.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,333 shares of company stock worth $4,510,995. Company insiders own 9.60% of the company’s stock.
Shares of SYSCO opened at $65.89 on Thursday, according to MarketBeat. SYSCO Co. has a 52-week low of $48.85 and a 52-week high of $66.63. The stock has a market capitalization of $34.60 billion, a PE ratio of 26.57, a P/E/G ratio of 2.13 and a beta of 0.57. The company has a current ratio of 1.44, a quick ratio of 0.90 and a debt-to-equity ratio of 3.76.
SYSCO (NYSE:SYY) last announced its earnings results on Monday, May 7th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.04. SYSCO had a net margin of 2.23% and a return on equity of 64.33%. The business had revenue of $14.35 billion for the quarter, compared to analyst estimates of $14.32 billion. During the same quarter last year, the business earned $0.51 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. research analysts predict that SYSCO Co. will post 2.98 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 27th. Stockholders of record on Friday, July 6th will be given a $0.36 dividend. The ex-dividend date of this dividend is Thursday, July 5th. This represents a $1.44 annualized dividend and a dividend yield of 2.19%. SYSCO’s dividend payout ratio (DPR) is 58.06%.
SYSCO Company Profile
Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry in the United States, Canada, Bahamas, Mexico, Costa Rica, Panama, the United Kingdom, France, Sweden, Ireland, Belgium, Spain, and Luxembourg.
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