State Farm Mutual Automobile Insurance Co. maintained its position in Sysco Corporation (NYSE:SYY) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,861,600 shares of the company’s stock at the end of the first quarter. State Farm Mutual Automobile Insurance Co. owned approximately 0.71% of Sysco Corporation worth $200,494,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in SYY. Quadrature Capital Ltd raised its position in Sysco Corporation by 167.4% in the fourth quarter. Quadrature Capital Ltd now owns 316,373 shares of the company’s stock worth $17,521,000 after buying an additional 198,042 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Sysco Corporation by 27.8% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 36,866 shares of the company’s stock worth $1,914,000 after buying an additional 8,021 shares during the period. Commerzbank Aktiengesellschaft FI raised its position in Sysco Corporation by 402.9% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 103,770 shares of the company’s stock worth $5,388,000 after buying an additional 83,136 shares during the period. Suntrust Banks Inc. raised its position in Sysco Corporation by 2.6% in the first quarter. Suntrust Banks Inc. now owns 242,423 shares of the company’s stock worth $12,585,000 after buying an additional 6,218 shares during the period. Finally, Vident Investment Advisory LLC raised its position in Sysco Corporation by 2.7% in the fourth quarter. Vident Investment Advisory LLC now owns 47,586 shares of the company’s stock worth $2,635,000 after buying an additional 1,239 shares during the period. 78.38% of the stock is owned by hedge funds and other institutional investors.
Sysco Corporation (NYSE SYY) traded up 1.40% during trading on Friday, reaching $51.58. The company had a trading volume of 3,803,719 shares. The stock has a 50 day moving average price of $50.96 and a 200 day moving average price of $52.62. Sysco Corporation has a 52 week low of $47.15 and a 52 week high of $57.07. The firm has a market capitalization of $27.61 billion, a P/E ratio of 27.19 and a beta of 0.52.
Sysco Corporation (NYSE:SYY) last posted its quarterly earnings data on Monday, May 8th. The company reported $0.51 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.51. The business had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.14 billion. Sysco Corporation had a net margin of 1.93% and a return on equity of 47.28%. The company’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.46 earnings per share. Analysts predict that Sysco Corporation will post $2.47 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 6th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.56%. The ex-dividend date is Thursday, October 5th. Sysco Corporation’s dividend payout ratio (DPR) is 69.47%.
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Several analysts have commented on SYY shares. Zacks Investment Research downgraded Sysco Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. BMO Capital Markets upgraded Sysco Corporation from a “market perform” rating to an “outperform” rating and increased their target price for the company from $56.00 to $60.00 in a research note on Thursday, May 4th. Wells Fargo & Company reiterated a “buy” rating on shares of Sysco Corporation in a research note on Monday, July 17th. Jefferies Group LLC reiterated a “hold” rating and set a $51.00 target price (up from $50.00) on shares of Sysco Corporation in a research note on Monday, May 8th. Finally, BidaskClub downgraded Sysco Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $56.02.
In related news, CEO William J. Delaney III sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $54.22, for a total transaction of $1,626,600.00. Following the completion of the transaction, the chief executive officer now owns 406,725 shares of the company’s stock, valued at $22,052,629.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Wayne Shurts sold 7,800 shares of the stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $50.82, for a total transaction of $396,396.00. Following the completion of the sale, the executive vice president now directly owns 58,776 shares of the company’s stock, valued at approximately $2,986,996.32. The disclosure for this sale can be found here. Insiders have sold 152,400 shares of company stock valued at $8,121,300 in the last ninety days. 8.81% of the stock is currently owned by company insiders.
Sysco Corporation Company Profile
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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