Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Sysco Corporation (NYSE:SYY) by 13.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 322,781 shares of the company’s stock after buying an additional 37,742 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.06% of Sysco Corporation worth $17,414,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in SYY. BlackRock Inc. increased its holdings in Sysco Corporation by 2,088.2% in the 1st quarter. BlackRock Inc. now owns 32,207,618 shares of the company’s stock valued at $1,672,219,000 after buying an additional 30,735,711 shares during the period. Janus Henderson Group PLC increased its holdings in Sysco Corporation by 9,055.0% in the 2nd quarter. Janus Henderson Group PLC now owns 5,707,603 shares of the company’s stock valued at $287,264,000 after buying an additional 5,645,259 shares during the period. American Century Companies Inc. increased its holdings in Sysco Corporation by 47.6% in the 2nd quarter. American Century Companies Inc. now owns 5,054,930 shares of the company’s stock valued at $254,415,000 after buying an additional 1,629,990 shares during the period. Capital World Investors increased its holdings in Sysco Corporation by 11.7% in the 2nd quarter. Capital World Investors now owns 13,767,000 shares of the company’s stock valued at $692,893,000 after buying an additional 1,445,000 shares during the period. Finally, Nordea Investment Management AB increased its holdings in Sysco Corporation by 252.7% in the 2nd quarter. Nordea Investment Management AB now owns 1,928,089 shares of the company’s stock valued at $97,041,000 after buying an additional 1,381,441 shares during the period. 79.70% of the stock is currently owned by hedge funds and other institutional investors.
SYY has been the topic of several analyst reports. Royal Bank Of Canada set a $50.00 price target on shares of Sysco Corporation and gave the company a “hold” rating in a report on Friday, August 11th. Zacks Investment Research lowered shares of Sysco Corporation from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Pivotal Research reissued a “hold” rating and issued a $53.00 price target on shares of Sysco Corporation in a report on Sunday, November 5th. Wells Fargo & Company reissued a “buy” rating on shares of Sysco Corporation in a report on Monday, August 14th. Finally, BMO Capital Markets set a $60.00 price target on shares of Sysco Corporation and gave the company a “buy” rating in a report on Thursday, August 3rd. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $56.42.
Sysco Corporation (NYSE:SYY) traded down $0.32 on Wednesday, hitting $54.65. 1,900,400 shares of the stock traded hands, compared to its average volume of 2,907,513. The company has a current ratio of 1.40, a quick ratio of 0.88 and a debt-to-equity ratio of 3.77. Sysco Corporation has a fifty-two week low of $48.85 and a fifty-two week high of $57.23. The company has a market cap of $28,642.46, a price-to-earnings ratio of 21.56, a price-to-earnings-growth ratio of 2.47 and a beta of 0.53.
Sysco Corporation (NYSE:SYY) last issued its quarterly earnings data on Monday, November 6th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.02. Sysco Corporation had a net margin of 2.12% and a return on equity of 58.47%. The firm had revenue of $14.65 billion for the quarter, compared to analyst estimates of $14.43 billion. During the same quarter in the prior year, the firm earned $0.67 EPS. The company’s revenue was up 4.9% on a year-over-year basis. sell-side analysts predict that Sysco Corporation will post 2.77 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, January 5th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $1.44 dividend on an annualized basis and a yield of 2.63%. This is a positive change from Sysco Corporation’s previous quarterly dividend of $0.33. Sysco Corporation’s dividend payout ratio is currently 60.00%.
In other Sysco Corporation news, CEO William J. Delaney III sold 30,000 shares of the stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $54.71, for a total transaction of $1,641,300.00. Following the sale, the chief executive officer now owns 406,725 shares of the company’s stock, valued at approximately $22,251,924.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Wayne Shurts sold 7,800 shares of the stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $54.86, for a total transaction of $427,908.00. Following the sale, the executive vice president now directly owns 58,776 shares in the company, valued at approximately $3,224,451.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,237,981 shares of company stock worth $120,377,972. Insiders own 9.60% of the company’s stock.
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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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