Bbva Compass Bancshares Inc. lowered its stake in shares of SYSCO Co. (NYSE:SYY) by 9.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 6,106 shares of the company’s stock after selling 623 shares during the period. Bbva Compass Bancshares Inc.’s holdings in SYSCO were worth $408,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc raised its position in shares of SYSCO by 3.9% during the 3rd quarter. Vanguard Group Inc now owns 41,599,601 shares of the company’s stock valued at $3,047,170,000 after buying an additional 1,549,255 shares in the last quarter. BlackRock Inc. raised its position in shares of SYSCO by 4.7% during the 4th quarter. BlackRock Inc. now owns 33,625,346 shares of the company’s stock valued at $2,106,966,000 after buying an additional 1,502,847 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of SYSCO by 18,997.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,960,810 shares of the company’s stock valued at $159,000 after buying an additional 9,908,653 shares in the last quarter. Parnassus Investments CA grew its holdings in shares of SYSCO by 4.7% during the 1st quarter. Parnassus Investments CA now owns 8,752,593 shares of the company’s stock valued at $584,323,000 after purchasing an additional 393,096 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of SYSCO by 8.7% during the 1st quarter. Janus Henderson Group PLC now owns 7,948,553 shares of the company’s stock valued at $530,645,000 after purchasing an additional 633,041 shares during the last quarter. Hedge funds and other institutional investors own 80.61% of the company’s stock.
Several research firms recently commented on SYY. Zacks Investment Research raised shares of SYSCO from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a report on Tuesday, May 7th. Buckingham Research increased their target price on shares of SYSCO from $82.00 to $84.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Morgan Stanley increased their target price on shares of SYSCO from $69.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, May 7th. Loop Capital increased their target price on shares of SYSCO to $80.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Finally, Pivotal Research reaffirmed a “sell” rating and set a $58.00 target price (up previously from $54.00) on shares of SYSCO in a report on Tuesday, May 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $74.46.
In other SYSCO news, Director Trian Fund Management, L.P. sold 707,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $66.30, for a total value of $46,874,100.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 7.88% of the stock is owned by company insiders.
SYY stock opened at $73.90 on Thursday. The company has a debt-to-equity ratio of 3.44, a quick ratio of 0.79 and a current ratio of 1.30. SYSCO Co. has a 52 week low of $59.44 and a 52 week high of $75.98. The firm has a market cap of $37.71 billion, a P/E ratio of 23.54, a price-to-earnings-growth ratio of 2.11 and a beta of 0.55.
SYSCO (NYSE:SYY) last announced its quarterly earnings results on Monday, May 6th. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.09. The business had revenue of $14.66 billion for the quarter, compared to analyst estimates of $14.78 billion. SYSCO had a net margin of 2.65% and a return on equity of 73.66%. The company’s revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.67 EPS. Research analysts expect that SYSCO Co. will post 3.5 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 5th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date was Thursday, April 4th. SYSCO’s dividend payout ratio (DPR) is presently 49.68%.
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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. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.
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