Personal Capital Advisors Corp acquired a new stake in Sysco (NYSE:SYY) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 204,125 shares of the company’s stock, valued at approximately $12,239,000.
A number of other hedge funds have also bought and sold shares of the stock. BlackRock Inc. lifted its stake in Sysco by 0.4% during the first quarter. BlackRock Inc. now owns 32,440,586 shares of the company’s stock worth $1,945,140,000 after purchasing an additional 142,047 shares during the last quarter. Parnassus Investments CA lifted its stake in Sysco by 1.8% during the fourth quarter. Parnassus Investments CA now owns 7,547,366 shares of the company’s stock worth $458,352,000 after purchasing an additional 136,965 shares during the last quarter. American Century Companies Inc. lifted its stake in Sysco by 1.7% during the first quarter. American Century Companies Inc. now owns 6,692,093 shares of the company’s stock worth $401,258,000 after purchasing an additional 113,917 shares during the last quarter. Geode Capital Management LLC lifted its stake in Sysco by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 4,569,679 shares of the company’s stock worth $276,861,000 after purchasing an additional 24,517 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Sysco by 8.3% during the first quarter. Victory Capital Management Inc. now owns 4,044,847 shares of the company’s stock worth $242,530,000 after purchasing an additional 309,005 shares during the last quarter. Hedge funds and other institutional investors own 80.06% of the company’s stock.
Several research firms recently weighed in on SYY. Pivotal Research set a $58.00 target price on Sysco and gave the stock a “hold” rating in a research note on Tuesday, May 8th. Zacks Investment Research cut Sysco from a “hold” rating to a “sell” rating in a research note on Tuesday, May 1st. Morgan Stanley restated a “hold” rating and set a $61.00 target price (down previously from $64.00) on shares of Sysco in a research note on Tuesday, May 8th. Credit Suisse Group set a $68.00 target price on Sysco and gave the stock a “hold” rating in a research note on Saturday, May 5th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $61.00 price objective on shares of Sysco in a research note on Tuesday, February 6th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Sysco presently has a consensus rating of “Hold” and a consensus price target of $65.64.
Shares of Sysco opened at $63.69 on Wednesday, according to Marketbeat.com. The company has a debt-to-equity ratio of 3.76, a current ratio of 1.44 and a quick ratio of 0.90. Sysco has a twelve month low of $48.85 and a twelve month high of $64.77. The company has a market capitalization of $33.16 billion, a price-to-earnings ratio of 25.68, a PEG ratio of 2.04 and a beta of 0.55.
Sysco (NYSE:SYY) last issued its quarterly earnings data on Monday, May 7th. The company reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.04. Sysco had a return on equity of 64.33% and a net margin of 2.23%. The company had revenue of $14.35 billion during the quarter, compared to analysts’ expectations of $14.32 billion. During the same quarter in the previous year, the business earned $0.51 earnings per share. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. sell-side analysts anticipate that Sysco will post 2.96 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, April 27th. Stockholders of record on Friday, April 6th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend was Thursday, April 5th. Sysco’s payout ratio is currently 58.06%.
In other news, EVP Wayne Shurts sold 7,800 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $58.98, for a total value of $460,044.00. Following the transaction, the executive vice president now owns 55,235 shares of the company’s stock, valued at $3,257,760.30. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Paul T. Moskowitz sold 15,333 shares of the business’s stock in a transaction that occurred on Monday, May 7th. The shares were sold at an average price of $64.00, for a total value of $981,312.00. Following the completion of the transaction, the insider now directly owns 58,328 shares in the company, valued at approximately $3,732,992. The disclosure for this sale can be found here. In the last three months, insiders sold 99,409 shares of company stock worth $6,133,498. Corporate insiders own 9.60% of the company’s stock.
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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