Versor Investments LP acquired a new stake in shares of Sysco Co. (NYSE:SYY – Free Report) during the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 18,000 shares of the company’s stock, valued at approximately $1,405,000.
Other large investors also recently modified their holdings of the company. Capital World Investors lifted its holdings in shares of Sysco by 17.5% in the 1st quarter. Capital World Investors now owns 10,984,950 shares of the company’s stock worth $891,758,000 after acquiring an additional 1,637,232 shares during the last quarter. Ameriprise Financial Inc. raised its position in Sysco by 26.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock worth $615,076,000 after purchasing an additional 1,782,180 shares during the period. Diamond Hill Capital Management Inc. lifted its stake in Sysco by 11.2% in the third quarter. Diamond Hill Capital Management Inc. now owns 6,685,547 shares of the company’s stock worth $521,874,000 after purchasing an additional 672,940 shares during the last quarter. Capital Research Global Investors boosted its position in Sysco by 112.8% during the first quarter. Capital Research Global Investors now owns 6,612,092 shares of the company’s stock valued at $536,770,000 after buying an additional 3,504,740 shares during the period. Finally, ProShare Advisors LLC grew its stake in shares of Sysco by 103.0% during the second quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock valued at $338,830,000 after buying an additional 2,408,226 shares during the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other news, SVP Eve M. Mcfadden sold 4,036 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $75.10, for a total value of $303,103.60. Following the completion of the sale, the senior vice president now owns 48,451 shares of the company’s stock, valued at $3,638,670.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.54% of the stock is currently owned by insiders.
Sysco Stock Performance
Sysco (NYSE:SYY – Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). The business had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. The business’s revenue was up 4.4% on a year-over-year basis. During the same period last year, the company earned $1.07 EPS. As a group, sell-side analysts expect that Sysco Co. will post 4.57 EPS for the current fiscal year.
Sysco Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 4th were given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date was Friday, October 4th. Sysco’s dividend payout ratio (DPR) is 52.44%.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on SYY shares. JPMorgan Chase & Co. increased their target price on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a report on Monday, September 16th. Wells Fargo & Company lowered their price target on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Jefferies Financial Group raised their price target on shares of Sysco from $91.00 to $92.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Barclays upped their price objective on shares of Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Morgan Stanley dropped their price objective on Sysco from $82.00 to $81.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $85.77.
View Our Latest Analysis on Sysco
Sysco Company Profile
Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.
Featured Stories
- Five stocks we like better than Sysco
- Why Invest in High-Yield Dividend Stocks?
- Monday.com’s Manic Price Pullback Is a Signal to Buy
- What is the Dow Jones Industrial Average (DJIA)?
- 3 “Made in America” Stocks to Benefit From the Trump Presidency
- Conference Calls and Individual Investors
- DuPont Is the Unexpected Benefactor of the AI Boom
Want to see what other hedge funds are holding SYY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sysco Co. (NYSE:SYY – Free Report).
Receive News & Ratings for Sysco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sysco and related companies with MarketBeat.com's FREE daily email newsletter.