Point72 Asset Management L.P. Has $51.95 Million Stock Holdings in Sysco Co. (NYSE:SYY)

Point72 Asset Management L.P. raised its stake in Sysco Co. (NYSE:SYY) by 58.9% in the 1st quarter, Holdings Channel.com reports. The fund owned 659,764 shares of the company’s stock after buying an additional 244,570 shares during the quarter. Point72 Asset Management L.P.’s holdings in Sysco were worth $51,950,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SYY. Wedbush Securities Inc. raised its holdings in shares of Sysco by 1.7% during the 1st quarter. Wedbush Securities Inc. now owns 7,601 shares of the company’s stock worth $598,000 after buying an additional 129 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Sysco by 2.9% during the 1st quarter. Allworth Financial LP now owns 4,600 shares of the company’s stock worth $362,000 after buying an additional 129 shares in the last quarter. Prestige Wealth Management Group LLC raised its holdings in shares of Sysco by 17.8% during the 4th quarter. Prestige Wealth Management Group LLC now owns 920 shares of the company’s stock worth $69,000 after buying an additional 139 shares in the last quarter. SeaBridge Investment Advisors LLC raised its holdings in shares of Sysco by 0.4% during the 1st quarter. SeaBridge Investment Advisors LLC now owns 31,796 shares of the company’s stock worth $2,504,000 after buying an additional 140 shares in the last quarter. Finally, Octavia Wealth Advisors LLC raised its holdings in shares of Sysco by 2.0% during the 1st quarter. Octavia Wealth Advisors LLC now owns 7,310 shares of the company’s stock worth $579,000 after buying an additional 142 shares in the last quarter. 79.10% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Joshua D. Frank sold 357,884 shares of the company’s stock in a transaction dated Thursday, May 27th. The stock was sold at an average price of $81.08, for a total transaction of $29,017,234.72. Following the sale, the director now owns 4,840 shares in the company, valued at approximately $392,427.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Joshua D. Frank sold 160,000 shares of the company’s stock in a transaction dated Tuesday, May 25th. The shares were sold at an average price of $81.73, for a total value of $13,076,800.00. Following the sale, the director now owns 4,840 shares in the company, valued at approximately $395,573.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,167,884 shares of company stock worth $93,808,035. 5.17% of the stock is owned by corporate insiders.

NYSE SYY opened at $73.27 on Thursday. The company has a 50-day moving average of $77.94. Sysco Co. has a 12 month low of $50.90 and a 12 month high of $86.73. The company has a market cap of $37.48 billion, a price-to-earnings ratio of -146.54, a PEG ratio of 2.38 and a beta of 1.44. The company has a debt-to-equity ratio of 8.41, a current ratio of 1.65 and a quick ratio of 1.19.

Sysco (NYSE:SYY) last released its quarterly earnings results on Tuesday, May 4th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02. Sysco had a positive return on equity of 17.14% and a negative net margin of 0.56%. The firm had revenue of $11.82 billion for the quarter, compared to analyst estimates of $12.02 billion. During the same quarter in the previous year, the company posted $0.45 EPS. The business’s revenue was down 13.7% on a year-over-year basis. On average, analysts forecast that Sysco Co. will post 1.31 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 23rd. Investors of record on Friday, July 2nd will be given a dividend of $0.47 per share. This is a positive change from Sysco’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, July 1st. This represents a $1.88 annualized dividend and a dividend yield of 2.57%. Sysco’s dividend payout ratio is presently 93.53%.

A number of equities research analysts recently weighed in on SYY shares. Barclays boosted their price objective on Sysco from $80.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Friday, May 21st. JPMorgan Chase & Co. boosted their price objective on Sysco from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Monday, April 12th. They noted that the move was a valuation call. Morgan Stanley boosted their price objective on Sysco from $88.00 to $89.00 and gave the stock an “equal weight” rating in a research report on Monday, May 24th. Finally, Wells Fargo & Company boosted their price objective on Sysco from $89.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $85.38.

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, the United Kingdom, France, and internationally. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other.

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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