Tredje AP fonden Raises Stake in SYSCO Co. (SYY)

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Tredje AP fonden grew its position in SYSCO Co. (NYSE:SYY) by 48.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 212,560 shares of the company’s stock after buying an additional 69,011 shares during the quarter. Tredje AP fonden’s holdings in SYSCO were worth $14,516,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Trian Fund Management L.P. grew its stake in shares of SYSCO by 0.8% in the first quarter. Trian Fund Management L.P. now owns 44,840,642 shares of the company’s stock valued at $2,688,645,000 after buying an additional 341,590 shares in the last quarter. BlackRock Inc. grew its stake in SYSCO by 0.4% during the 1st quarter. BlackRock Inc. now owns 32,440,586 shares of the company’s stock worth $1,945,140,000 after purchasing an additional 142,047 shares in the last quarter. American Century Companies Inc. grew its stake in SYSCO by 1.7% during the 1st quarter. American Century Companies Inc. now owns 6,692,093 shares of the company’s stock worth $401,258,000 after purchasing an additional 113,917 shares in the last quarter. Bank of Montreal Can grew its stake in SYSCO by 14.9% during the 2nd quarter. Bank of Montreal Can now owns 4,552,341 shares of the company’s stock worth $310,878,000 after purchasing an additional 590,410 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in SYSCO by 2.1% during the 2nd quarter. Victory Capital Management Inc. now owns 4,131,297 shares of the company’s stock worth $282,126,000 after purchasing an additional 86,450 shares in the last quarter. 79.15% of the stock is owned by institutional investors and hedge funds.

SYY has been the subject of several analyst reports. Wells Fargo & Co boosted their target price on SYSCO from $71.00 to $80.00 and gave the stock a “$70.32” rating in a research note on Wednesday, July 18th. They noted that the move was a valuation call. Morgan Stanley boosted their target price on SYSCO from $61.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 17th. Zacks Investment Research cut SYSCO from a “hold” rating to a “sell” rating in a research note on Monday, July 23rd. Credit Suisse Group boosted their target price on SYSCO from $68.00 to $70.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 8th. Finally, ValuEngine cut SYSCO from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. SYSCO currently has a consensus rating of “Hold” and an average target price of $72.42.

In other news, SVP Brian R. Todd sold 9,147 shares of the company’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $73.82, for a total transaction of $675,231.54. Following the completion of the transaction, the senior vice president now directly owns 11,747 shares of the company’s stock, valued at approximately $867,163.54. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Joel T. Grade sold 17,438 shares of the company’s stock in a transaction dated Friday, June 29th. The stock was sold at an average price of $68.36, for a total value of $1,192,061.68. Following the transaction, the chief financial officer now directly owns 56,867 shares of the company’s stock, valued at $3,887,428.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,133,781 shares of company stock valued at $207,428,536. Insiders own 9.60% of the company’s stock.

Shares of NYSE:SYY traded down $0.17 on Monday, hitting $74.66. 7,499 shares of the company’s stock were exchanged, compared to its average volume of 2,706,006. The stock has a market cap of $35.68 billion, a P/E ratio of 30.06, a P/E/G ratio of 1.89 and a beta of 0.56. SYSCO Co. has a 1-year low of $50.83 and a 1-year high of $75.33. The company has a debt-to-equity ratio of 3.76, a quick ratio of 0.90 and a current ratio of 1.44.

SYSCO (NYSE:SYY) last released its quarterly earnings data on Monday, August 13th. The company reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.01. The business had revenue of $15.32 billion during the quarter, compared to analysts’ expectations of $15.30 billion. SYSCO had a return on equity of 64.33% and a net margin of 2.23%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.72 EPS. equities research analysts predict that SYSCO Co. will post 3.01 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 26th. Stockholders of record on Friday, October 5th will be given a dividend of $0.36 per share. The ex-dividend date is Thursday, October 4th. This represents a $1.44 annualized dividend and a dividend yield of 1.93%. SYSCO’s dividend payout ratio is currently 58.06%.

SYSCO 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.

Further Reading: What are the Different Types of Leveraged Buyouts?

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Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

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