Sysco Corporation (SYY) Stake Increased by Parametric Portfolio Associates LLC
Parametric Portfolio Associates LLC grew its holdings in shares of Sysco Corporation (NYSE:SYY) by 1.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,001,235 shares of the company’s stock after acquiring an additional 35,233 shares during the period. Parametric Portfolio Associates LLC owned about 0.38% of Sysco worth $107,967,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Exane Derivatives grew its stake in shares of Sysco by 137.8% during the third quarter. Exane Derivatives now owns 48,699 shares of the company’s stock valued at $2,627,000 after acquiring an additional 28,217 shares in the last quarter. Sei Investments Co. grew its stake in shares of Sysco by 29.3% during the second quarter. Sei Investments Co. now owns 238,395 shares of the company’s stock valued at $11,998,000 after acquiring an additional 54,078 shares in the last quarter. FDx Advisors Inc. grew its stake in shares of Sysco by 27.6% during the third quarter. FDx Advisors Inc. now owns 35,396 shares of the company’s stock valued at $1,910,000 after acquiring an additional 7,652 shares in the last quarter. BARING ASSET MANAGEMENT Ltd grew its stake in shares of Sysco by 15.5% during the second quarter. BARING ASSET MANAGEMENT Ltd now owns 28,118 shares of the company’s stock valued at $1,415,000 after acquiring an additional 3,773 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Sysco by 20.3% during the second quarter. Victory Capital Management Inc. now owns 2,917,645 shares of the company’s stock valued at $146,845,000 after acquiring an additional 491,398 shares in the last quarter. Institutional investors own 80.22% of the company’s stock.
Shares of Sysco Corporation (SYY) traded up $0.05 during mid-day trading on Friday, hitting $60.95. 5,965,626 shares of the stock traded hands, compared to its average volume of 2,575,291. 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 twelve month low of $48.85 and a twelve month high of $62.79. The company has a market capitalization of $31,758.37, a PE ratio of 23.90, a price-to-earnings-growth ratio of 2.61 and a beta of 0.54.
Sysco (NYSE:SYY) last issued its quarterly earnings results on Monday, November 6th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.72 by $0.02. Sysco had a net margin of 2.12% and a return on equity of 58.47%. The business had revenue of $14.65 billion for the quarter, compared to analysts’ expectations of $14.43 billion. During the same quarter last year, the company posted $0.67 earnings per share. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. equities research analysts expect that Sysco Corporation will post 2.78 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, January 5th will be issued a $0.36 dividend. The ex-dividend date is Thursday, January 4th. This represents a $1.44 dividend on an annualized basis and a yield of 2.36%. This is a boost from Sysco’s previous quarterly dividend of $0.33. Sysco’s dividend payout ratio (DPR) is currently 60.00%.
In other Sysco news, CEO William J. Delaney III sold 281,800 shares of the firm’s stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $53.52, for a total value of $15,081,936.00. Following the transaction, the chief executive officer now owns 458,525 shares of the company’s stock, valued at $24,540,258. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Wayne Shurts sold 7,800 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $61.76, for a total transaction of $481,728.00. Following the completion of the transaction, the executive vice president now directly owns 55,235 shares in the company, valued at approximately $3,411,313.60. The disclosure for this sale can be found here. Insiders sold 1,827,867 shares of company stock worth $98,744,178 in the last three months. 9.60% of the stock is currently owned by corporate insiders.
Several analysts have recently weighed in on the company. Pivotal Research raised their target price on Sysco from $53.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, December 12th. Loop Capital increased their price target on shares of Sysco to $68.00 and gave the stock a “buy” rating in a research report on Monday, December 11th. BMO Capital Markets set a $66.00 price target on shares of Sysco and gave the stock a “buy” rating in a research report on Friday, December 8th. Finally, Zacks Investment Research cut shares of Sysco from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $58.55.
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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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