Axa boosted its position in shares of Sysco Corporation (NYSE:SYY) by 11.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 442,776 shares of the company’s stock after buying an additional 46,676 shares during the period. Axa owned 0.08% of Sysco Corporation worth $22,989,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Foresters Investment Management Company Inc. boosted its position in shares of Sysco Corporation by 10.7% in the fourth quarter. Foresters Investment Management Company Inc. now owns 3,100 shares of the company’s stock worth $174,000 after buying an additional 300 shares in the last quarter. Cigna Investments Inc. New purchased a new position in shares of Sysco Corporation during the fourth quarter worth $1,044,000. Summit Global Investments purchased a new position in shares of Sysco Corporation during the fourth quarter worth $5,846,000. Barings LLC boosted its position in shares of Sysco Corporation by 43.3% in the fourth quarter. Barings LLC now owns 47,300 shares of the company’s stock worth $2,619,000 after buying an additional 14,300 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in shares of Sysco Corporation during the fourth quarter worth $25,426,000. 78.89% of the stock is currently owned by institutional investors.
Shares of Sysco Corporation (NYSE SYY) opened at 49.24 on Wednesday. The company’s 50 day moving average price is $53.93 and its 200 day moving average price is $53.50. The company has a market capitalization of $26.35 billion, a price-to-earnings ratio of 25.96 and a beta of 0.52. Sysco Corporation has a 52-week low of $47.15 and a 52-week high of $57.07.
Sysco Corporation (NYSE:SYY) last issued its quarterly earnings results on Monday, May 8th. The company reported $0.51 earnings per share for the quarter, hitting the 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 for the quarter, compared to the consensus estimate of $13.14 billion. During the same period in the prior year, the business posted $0.46 earnings per share. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, analysts predict that Sysco Corporation will post $2.47 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Friday, July 7th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $1.32 annualized dividend and a dividend yield of 2.68%. Sysco Corporation’s payout ratio is 69.47%.
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A number of equities analysts recently weighed in on SYY shares. Zacks Investment Research cut Sysco Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, April 11th. Guggenheim reissued a “neutral” rating on shares of Sysco Corporation in a report on Tuesday, April 11th. BMO Capital Markets raised Sysco Corporation from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $56.00 to $60.00 in a research note on Thursday, May 4th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $51.00 price target (up from $50.00) on shares of Sysco Corporation in a research note on Monday, May 8th. Finally, Royal Bank Of Canada lifted their price target on Sysco Corporation from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 9th. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Sysco Corporation presently has a consensus rating of “Hold” and a consensus target price of $55.95.
In other news, insider Wayne Shurts sold 15,600 shares of the stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $54.25, for a total value of $846,300.00. Following the sale, the insider now directly owns 58,776 shares in the company, valued at $3,188,598. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO William J. Delaney III sold 30,000 shares of the stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $55.55, for a total value of $1,666,500.00. Following the completion of the sale, the chief executive officer now owns 406,725 shares in the company, valued at $22,593,573.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 99,000 shares of company stock worth $5,433,732. Company insiders own 8.81% of the company’s stock.
About Sysco Corporation
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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