Sysco Corporation (SYY) Position Reduced by Richard C. Young & CO. LTD.
Richard C. Young & CO. LTD. decreased its stake in Sysco Corporation (NYSE:SYY) by 5.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 191,321 shares of the company’s stock after selling 10,290 shares during the quarter. Sysco makes up about 2.0% of Richard C. Young & CO. LTD.’s investment portfolio, making the stock its 21st largest position. Richard C. Young & CO. LTD.’s holdings in Sysco were worth $10,322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in Sysco by 2,088.2% in the first quarter. BlackRock Inc. now owns 32,207,618 shares of the company’s stock worth $1,672,219,000 after purchasing an additional 30,735,711 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Sysco by 9,055.0% in the second quarter. Janus Henderson Group PLC now owns 5,707,603 shares of the company’s stock worth $287,264,000 after purchasing an additional 5,645,259 shares in the last quarter. American Century Companies Inc. boosted its stake in Sysco by 47.6% in the second quarter. American Century Companies Inc. now owns 5,054,930 shares of the company’s stock worth $254,415,000 after purchasing an additional 1,629,990 shares in the last quarter. Capital World Investors boosted its stake in Sysco by 11.7% in the second quarter. Capital World Investors now owns 13,767,000 shares of the company’s stock worth $692,893,000 after purchasing an additional 1,445,000 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in Sysco by 252.7% in the second quarter. Nordea Investment Management AB now owns 1,928,089 shares of the company’s stock worth $97,041,000 after purchasing an additional 1,381,441 shares in the last quarter. 79.70% of the stock is currently owned by institutional investors and hedge funds.
In other Sysco news, Director Trian Fund Management, L.P. purchased 889,561 shares of the stock in a transaction on Tuesday, September 19th. The stock was bought at an average cost of $53.68 per share, for a total transaction of $47,751,634.48. Following the completion of the acquisition, the director now directly owns 5,529 shares of the company’s stock, valued at $296,796.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Wayne Shurts sold 7,800 shares of the stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $54.86, for a total value of $427,908.00. Following the completion of the sale, the executive vice president now owns 58,776 shares of the company’s stock, valued at $3,224,451.36. The disclosure for this sale can be found here. Insiders sold 2,222,381 shares of company stock valued at $119,570,516 in the last quarter. 9.60% of the stock is currently owned by corporate insiders.
A number of equities analysts have commented on SYY shares. Jefferies Group LLC reissued a “hold” rating and issued a $51.00 price objective on shares of Sysco in a research note on Friday, August 4th. Pivotal Research reaffirmed a “hold” rating and set a $53.00 price target on shares of Sysco in a research note on Sunday, November 5th. Royal Bank Of Canada set a $50.00 price target on Sysco and gave the company a “hold” rating in a research note on Friday, August 11th. Zacks Investment Research lowered Sysco from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Sysco in a research note on Tuesday, September 12th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $56.42.
Sysco Corporation (SYY) traded up $0.02 during midday trading on Monday, reaching $54.92. The company had a trading volume of 621,000 shares, compared to its average volume of 2,889,991. The company has a market capitalization of $28,620.00, a P/E ratio of 21.54, a PEG ratio of 2.46 and a beta of 0.53. The company has a quick ratio of 0.88, a current ratio of 1.40 and a debt-to-equity ratio of 3.77. Sysco Corporation has a fifty-two week low of $48.85 and a fifty-two week high of $57.23.
Sysco (NYSE:SYY) last released its quarterly earnings data on Monday, November 6th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.02. The business had revenue of $14.65 billion during the quarter, compared to the consensus estimate of $14.43 billion. Sysco had a return on equity of 58.47% and a net margin of 2.12%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.67 earnings per share. equities research analysts predict that Sysco Corporation will post 2.77 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 5th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Thursday, January 4th. This is an increase from Sysco’s previous quarterly dividend of $0.33. Sysco’s dividend payout ratio is currently 60.27%.
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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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