SYSCO Co. (SYY) Stake Raised by Strs Ohio
Strs Ohio lifted its holdings in SYSCO Co. (NYSE:SYY) by 0.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 254,487 shares of the company’s stock after buying an additional 608 shares during the quarter. Strs Ohio’s holdings in SYSCO were worth $16,989,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of SYY. Oregon Public Employees Retirement Fund raised its holdings in shares of SYSCO by 18,997.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 9,960,810 shares of the company’s stock worth $159,000 after buying an additional 9,908,653 shares during the period. Norges Bank purchased a new stake in shares of SYSCO in the fourth quarter worth approximately $299,789,000. Vanguard Group Inc raised its holdings in shares of SYSCO by 3.9% in the third quarter. Vanguard Group Inc now owns 41,599,601 shares of the company’s stock worth $3,047,170,000 after buying an additional 1,549,255 shares during the period. BlackRock Inc. raised its holdings in shares of SYSCO by 4.7% in the fourth quarter. BlackRock Inc. now owns 33,625,346 shares of the company’s stock worth $2,106,966,000 after buying an additional 1,502,847 shares during the period. Finally, Parnassus Investments CA raised its holdings in shares of SYSCO by 18.8% in the fourth quarter. Parnassus Investments CA now owns 8,359,497 shares of the company’s stock worth $523,806,000 after buying an additional 1,320,866 shares during the period. Hedge funds and other institutional investors own 80.19% of the company’s stock.
SYY opened at $70.58 on Tuesday. The firm has a market cap of $36.31 billion, a price-to-earnings ratio of 22.48, a PEG ratio of 2.03 and a beta of 0.54. SYSCO Co. has a 52 week low of $59.44 and a 52 week high of $75.98. The company has a current ratio of 1.25, a quick ratio of 0.76 and a debt-to-equity ratio of 3.70.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 5th will be issued a dividend of $0.39 per share. The ex-dividend date is Thursday, April 4th. This represents a $1.56 annualized dividend and a yield of 2.21%. SYSCO’s payout ratio is currently 49.68%.
Several equities research analysts have recently weighed in on SYY shares. Bank of America downgraded SYSCO from a “buy” rating to a “neutral” rating and set a $68.00 price target on the stock. in a report on Wednesday, January 16th. Pivotal Research reiterated a “sell” rating and issued a $54.00 price target on shares of SYSCO in a report on Friday, February 1st. Zacks Investment Research upgraded SYSCO from a “sell” rating to a “hold” rating in a report on Wednesday, February 6th. Finally, Loop Capital set a $75.00 price target on SYSCO and gave the stock a “buy” rating in a report on Tuesday, February 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $73.00.
In other SYSCO news, insider Russell T. Libby sold 60,156 shares of the stock in a transaction on Thursday, January 31st. The stock was sold at an average price of $63.40, for a total transaction of $3,813,890.40. Following the sale, the insider now owns 62,597 shares of the company’s stock, valued at approximately $3,968,649.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert S. Charlton sold 22,321 shares of the stock in a transaction on Monday, February 4th. The shares were sold at an average price of $65.83, for a total value of $1,469,391.43. Following the sale, the executive vice president now directly owns 61,460 shares in the company, valued at approximately $4,045,911.80. The disclosure for this sale can be found here. Insiders have sold a total of 789,477 shares of company stock worth $52,157,382 over the last 90 days. 7.88% of the stock is currently owned by company insiders.
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. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.
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