Quantbot Technologies LP lifted its stake in shares of Sysco Corporation (NYSE:SYY) by 156.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,615 shares of the company’s stock after buying an additional 44,272 shares during the quarter. Quantbot Technologies LP’s holdings in Sysco Corporation were worth $3,654,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in the company. Woodley Farra Manion Portfolio Management Inc. grew its position in shares of Sysco Corporation by 2.9% during the second quarter. Woodley Farra Manion Portfolio Management Inc. now owns 86,365 shares of the company’s stock worth $4,347,000 after buying an additional 2,461 shares in the last quarter. FIL Ltd bought a new position in Sysco Corporation during the second quarter worth $16,301,000. MML Investors Services LLC lifted its stake in Sysco Corporation by 0.9% during the second quarter. MML Investors Services LLC now owns 13,403 shares of the company’s stock worth $675,000 after purchasing an additional 120 shares during the last quarter. TIAA FSB bought a new position in Sysco Corporation during the second quarter worth $2,449,000. Finally, FMR LLC lifted its stake in Sysco Corporation by 11.2% during the second quarter. FMR LLC now owns 5,286,933 shares of the company’s stock worth $266,092,000 after purchasing an additional 532,486 shares during the last quarter. 80.65% of the stock is owned by institutional investors and hedge funds.
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In other Sysco Corporation news, Director Trian Fund Management, L.P. sold 372,314 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $53.09, for a total transaction of $19,766,150.26. Following the sale, the director now owns 5,529 shares in the company, valued at $293,534.61. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Paul T. Moskowitz sold 16,667 shares of the stock in a transaction on Friday, September 29th. The stock was sold at an average price of $54.12, for a total value of $902,018.04. Following the completion of the sale, the insider now owns 61,936 shares in the company, valued at approximately $3,351,976.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,103,581 shares of company stock worth $112,935,992. Company insiders own 9.60% of the company’s stock.
Several equities analysts recently issued reports on the company. Wells Fargo & Company restated a “buy” rating on shares of Sysco Corporation in a research note on Friday, June 23rd. BidaskClub cut Sysco Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. Jefferies Group LLC reiterated a “hold” rating and issued a $51.00 target price on shares of Sysco Corporation in a research note on Friday, August 4th. Pivotal Research set a $53.00 target price on Sysco Corporation and gave the company a “hold” rating in a research note on Sunday, August 13th. Finally, BMO Capital Markets set a $60.00 price objective on shares of Sysco Corporation and gave the company a “buy” rating in a research note on Thursday, August 3rd. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $56.42.
Shares of Sysco Corporation (NYSE:SYY) opened at 54.83 on Wednesday. The firm has a market capitalization of $28.94 billion, a price-to-earnings ratio of 26.36 and a beta of 0.52. The stock’s 50 day moving average price is $53.57 and its 200 day moving average price is $52.80. Sysco Corporation has a one year low of $47.15 and a one year high of $57.07.
Sysco Corporation (NYSE:SYY) last posted its quarterly earnings data on Monday, August 14th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.71 by $0.01. Sysco Corporation had a return on equity of 53.25% and a net margin of 2.06%. The business had revenue of $14.40 billion for the quarter, compared to the consensus estimate of $14.35 billion. During the same quarter in the prior year, the business earned $0.64 earnings per share. Sysco Corporation’s revenue for the quarter was up 5.5% on a year-over-year basis. Analysts expect that Sysco Corporation will post $2.76 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 6th will be paid a $0.33 dividend. The ex-dividend date is Thursday, October 5th. This represents a $1.32 annualized dividend and a yield of 2.41%. Sysco Corporation’s payout ratio is 63.16%.
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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