United Services Automobile Association lowered its position in Sysco Corporation (NYSE:SYY) by 2.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 163,151 shares of the company’s stock after selling 4,222 shares during the period. United Services Automobile Association’s holdings in Sysco Corporation were worth $8,471,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Sysco Corporation during the fourth quarter valued at about $275,553,000. Bank of Montreal Can boosted its stake in Sysco Corporation by 47.0% in the first quarter. Bank of Montreal Can now owns 6,247,295 shares of the company’s stock valued at $324,360,000 after buying an additional 1,996,198 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Sysco Corporation by 86.7% in the first quarter. Victory Capital Management Inc. now owns 2,426,247 shares of the company’s stock valued at $125,971,000 after buying an additional 1,126,573 shares during the last quarter. Hermes Investment Management Ltd. bought a new stake in Sysco Corporation during the first quarter valued at about $41,568,000. Finally, American Century Companies Inc. boosted its stake in Sysco Corporation by 21.1% in the first quarter. American Century Companies Inc. now owns 3,424,940 shares of the company’s stock valued at $177,823,000 after buying an additional 596,224 shares during the last quarter. Institutional investors own 78.48% of the company’s stock.
Sysco Corporation (NYSE SYY) opened at 52.68 on Thursday. Sysco Corporation has a 1-year low of $47.15 and a 1-year high of $57.07. The firm’s 50-day moving average is $51.49 and its 200 day moving average is $52.71. The stock has a market capitalization of $28.19 billion, a price-to-earnings ratio of 27.77 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 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.51. Sysco Corporation had a return on equity of 47.28% and a net margin of 1.93%. The firm had revenue of $13.52 billion during the quarter, compared to the consensus estimate of $13.14 billion. During the same period in the prior year, the company earned $0.46 EPS. The firm’s revenue was up 12.7% compared to the same quarter last year. Equities analysts anticipate that Sysco Corporation will post $2.47 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 6th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date is Thursday, October 5th. Sysco Corporation’s dividend payout ratio (DPR) is presently 69.47%.
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Several equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Sysco Corporation from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research report on Friday, July 21st. Wells Fargo & Company reiterated a “buy” rating on shares of Sysco Corporation in a research report on Monday, July 17th. BMO Capital Markets reiterated a “buy” rating and set a $60.00 price objective on shares of Sysco Corporation in a research report on Tuesday, June 27th. Bank of America Corporation reiterated a “buy” rating and set a $61.00 price objective on shares of Sysco Corporation in a research report on Monday, June 26th. Finally, J P Morgan Chase & Co reiterated an “overweight” rating and set a $57.00 price objective on shares of Sysco Corporation in a research report on Friday, June 23rd. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Sysco Corporation presently has a consensus rating of “Hold” and a consensus price target of $56.02.
In other Sysco Corporation news, insider Wayne Shurts sold 15,600 shares of the firm’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $55.32, for a total value of $862,992.00. Following the completion of the sale, the insider now directly owns 58,776 shares of the company’s stock, valued at approximately $3,251,488.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William J. Delaney III sold 30,000 shares of the firm’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $54.22, for a total value of $1,626,600.00. Following the completion of the sale, the chief executive officer now directly owns 406,725 shares of the company’s stock, valued at $22,052,629.50. The disclosure for this sale can be found here. Insiders sold a total of 152,400 shares of company stock valued at $8,121,300 over the last ninety days. Corporate insiders own 8.81% of the company’s stock.
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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