Caisse DE Depot ET Placement DU Quebec grew its position in Sysco Corporation (NYSE:SYY) by 1.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 493,043 shares of the company’s stock after purchasing an additional 5,800 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned about 0.09% of Sysco worth $26,712,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. First Personal Financial Services grew its position in Sysco by 293.2% during the third quarter. First Personal Financial Services now owns 1,962 shares of the company’s stock worth $106,000 after buying an additional 1,463 shares in the last quarter. Arcadia Investment Management Corp MI grew its position in Sysco by 10.7% during the second quarter. Arcadia Investment Management Corp MI now owns 2,336 shares of the company’s stock worth $118,000 after buying an additional 225 shares in the last quarter. Acrospire Investment Management LLC grew its position in Sysco by 84.6% during the second quarter. Acrospire Investment Management LLC now owns 2,400 shares of the company’s stock worth $121,000 after buying an additional 1,100 shares in the last quarter. Manchester Capital Management LLC grew its position in Sysco by 13.4% during the second quarter. Manchester Capital Management LLC now owns 2,538 shares of the company’s stock worth $128,000 after buying an additional 300 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its position in Sysco by 465.7% during the third quarter. Advisors Asset Management Inc. now owns 2,783 shares of the company’s stock worth $150,000 after buying an additional 2,291 shares in the last quarter. 80.22% of the stock is currently owned by institutional investors.
In other news, CEO William J. Delaney III sold 30,000 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $53.16, for a total value of $1,594,800.00. Following the completion of the transaction, the chief executive officer now directly owns 406,725 shares in the company, valued at approximately $21,621,501. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Wayne Shurts sold 15,600 shares of the stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $56.66, for a total value of $883,896.00. Following the completion of the transaction, the insider now owns 56,985 shares of the company’s stock, valued at $3,228,770.10. The disclosure for this sale can be found here. Insiders have sold 2,237,981 shares of company stock valued at $120,454,412 over the last 90 days. Corporate insiders own 9.60% of the company’s stock.
SYY has been the topic of a number of analyst reports. Pivotal Research reissued a “hold” rating and set a $53.00 price target on shares of Sysco in a research report on Sunday, November 5th. BMO Capital Markets reissued an “outperform” rating on shares of Sysco in a research report on Tuesday, September 12th. Zacks Investment Research downgraded Sysco from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Royal Bank Of Canada set a $50.00 price target on Sysco and gave the stock a “hold” rating in a research report on Friday, August 11th. Finally, Wells Fargo & Company restated a “buy” rating on shares of Sysco in a research note on Monday, August 14th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $56.42.
Sysco Corporation (SYY) traded down $0.25 during midday trading on Wednesday, reaching $59.28. The company’s stock had a trading volume of 3,361,400 shares, compared to its average volume of 2,892,166. 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 12-month low of $48.85 and a 12-month high of $59.66. The company has a market capitalization of $31,018.48, a PE ratio of 23.34, a PEG ratio of 2.66 and a beta of 0.54.
Sysco (NYSE:SYY) last released its earnings results on Monday, November 6th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.02. Sysco had a return on equity of 58.47% and a net margin of 2.12%. The firm had revenue of $14.65 billion during the quarter, compared to analysts’ expectations of $14.43 billion. During the same period in the prior year, the company earned $0.67 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. equities research analysts expect that Sysco Corporation will post 2.77 earnings per share for the current 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 paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, January 4th. This is a boost from Sysco’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a yield of 2.43%. Sysco’s dividend payout ratio is presently 60.00%.
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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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