California Public Employees Retirement System cut its position in shares of SYSCO Co. (NYSE:SYY) by 2.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,310,162 shares of the company’s stock after selling 27,804 shares during the quarter. California Public Employees Retirement System owned 0.25% of SYSCO worth $78,557,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Deutsche Bank AG increased its position in shares of SYSCO by 1.7% during the 4th quarter. Deutsche Bank AG now owns 2,691,367 shares of the company’s stock valued at $163,438,000 after purchasing an additional 45,042 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in shares of SYSCO by 6.8% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 65,788 shares of the company’s stock worth $3,995,000 after acquiring an additional 4,167 shares in the last quarter. AXA boosted its stake in shares of SYSCO by 2.2% during the 4th quarter. AXA now owns 445,779 shares of the company’s stock worth $27,073,000 after acquiring an additional 9,700 shares in the last quarter. MetLife Investment Advisors LLC bought a new stake in shares of SYSCO during the 4th quarter worth $9,008,000. Finally, Garde Capital Inc. boosted its stake in shares of SYSCO by 6.8% during the 4th quarter. Garde Capital Inc. now owns 15,373 shares of the company’s stock worth $934,000 after acquiring an additional 973 shares in the last quarter. Institutional investors own 80.02% of the company’s stock.
Shares of NYSE:SYY opened at $66.48 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.44 and a debt-to-equity ratio of 3.76. SYSCO Co. has a 1 year low of $48.85 and a 1 year high of $66.63. The firm has a market cap of $34.60 billion, a P/E ratio of 26.81, a PEG ratio of 2.13 and a beta of 0.57.
SYSCO (NYSE:SYY) last announced its quarterly earnings data on Monday, May 7th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.04. SYSCO had a return on equity of 64.33% and a net margin of 2.23%. The business had revenue of $14.35 billion during the quarter, compared to analyst estimates of $14.32 billion. During the same period last year, the company earned $0.51 earnings per share. SYSCO’s quarterly revenue was up 6.1% compared to the same quarter last year. analysts anticipate that SYSCO Co. will post 2.98 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 27th. Shareholders of record on Friday, July 6th will be issued a dividend of $0.36 per share. The ex-dividend date is Thursday, July 5th. This represents a $1.44 annualized dividend and a yield of 2.17%. SYSCO’s dividend payout ratio (DPR) is currently 58.06%.
Several equities research analysts have recently weighed in on the company. Morgan Stanley reissued a “hold” rating and set a $61.00 price objective (down from $64.00) on shares of SYSCO in a research note on Tuesday, May 8th. Pivotal Research set a $58.00 price objective on SYSCO and gave the stock a “hold” rating in a research note on Tuesday, May 8th. Citigroup raised their price objective on SYSCO from $60.00 to $63.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 27th. Zacks Investment Research lowered SYSCO from a “buy” rating to a “hold” rating in a research note on Wednesday, March 14th. Finally, Credit Suisse Group initiated coverage on SYSCO in a research report on Tuesday, April 17th. They issued an “outperform” rating and a $68.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $65.64.
In other SYSCO news, Director Joshua D. Frank sold 802,924 shares of the firm’s stock in a transaction dated Tuesday, June 12th. The stock was sold at an average price of $66.15, for a total transaction of $53,113,422.60. Following the transaction, the director now directly owns 4,657 shares in the company, valued at $308,060.55. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard G. Tilghman sold 5,000 shares of the firm’s stock in a transaction dated Monday, April 16th. The shares were sold at an average price of $60.62, for a total value of $303,100.00. Following the transaction, the director now owns 85,864 shares in the company, valued at $5,205,075.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,153,196 shares of company stock worth $208,353,443. Corporate insiders own 9.60% of the company’s stock.
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, Bahamas, Mexico, Costa Rica, Panama, the United Kingdom, France, Sweden, Ireland, Belgium, Spain, and Luxembourg.
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