Assenagon Asset Management S.A. increased its holdings in shares of SYSCO Co. (NYSE:SYY) by 82.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,987 shares of the company’s stock after buying an additional 27,649 shares during the period. Assenagon Asset Management S.A.’s holdings in SYSCO were worth $3,821,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in SYY. Macquarie Group Ltd. increased its stake in SYSCO by 77.3% during the 2nd quarter. Macquarie Group Ltd. now owns 13,300 shares of the company’s stock valued at $908,000 after purchasing an additional 5,800 shares in the last quarter. Advisors Asset Management Inc. increased its stake in SYSCO by 242.7% during the 2nd quarter. Advisors Asset Management Inc. now owns 43,394 shares of the company’s stock valued at $1,239,000 after purchasing an additional 30,733 shares in the last quarter. Jane Street Group LLC increased its stake in SYSCO by 388.4% during the 2nd quarter. Jane Street Group LLC now owns 12,114 shares of the company’s stock valued at $827,000 after purchasing an additional 16,314 shares in the last quarter. United Services Automobile Association increased its stake in SYSCO by 3.5% during the 2nd quarter. United Services Automobile Association now owns 631,073 shares of the company’s stock valued at $43,096,000 after purchasing an additional 21,403 shares in the last quarter. Finally, Northwest Bancshares Inc. bought a new stake in SYSCO during the 3rd quarter valued at about $277,000. Hedge funds and other institutional investors own 78.77% of the company’s stock.
A number of analysts have weighed in on SYY shares. ValuEngine lowered shares of SYSCO from a “buy” rating to a “hold” rating in a research note on Tuesday, November 6th. Zacks Investment Research upgraded shares of SYSCO from a “sell” rating to a “hold” rating in a research note on Thursday, November 22nd. Citigroup reduced their price objective on shares of SYSCO from $78.00 to $74.00 and set a “neutral” rating for the company in a research note on Tuesday, November 13th. Pivotal Research restated a “sell” rating and set a $54.00 price objective on shares of SYSCO in a research note on Friday, February 1st. Finally, Royal Bank of Canada reduced their price target on shares of SYSCO from $67.00 to $65.00 and set a “sector perform” rating for the company in a research note on Tuesday, November 6th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. SYSCO has an average rating of “Hold” and an average target price of $72.92.
Shares of SYY stock traded up $1.09 during trading hours on Friday, reaching $66.20. The company had a trading volume of 5,752,556 shares, compared to its average volume of 3,889,776. SYSCO Co. has a one year low of $56.77 and a one year high of $75.98. The firm has a market capitalization of $33.99 billion, a PE ratio of 21.08, a P/E/G ratio of 1.89 and a beta of 0.53. The company has a quick ratio of 0.80, a current ratio of 1.25 and a debt-to-equity ratio of 3.70.
SYSCO (NYSE:SYY) last announced its quarterly earnings results on Monday, February 4th. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. SYSCO had a net margin of 2.48% and a return on equity of 71.45%. The firm had revenue of $14.80 billion during the quarter, compared to analyst estimates of $14.75 billion. During the same period in the previous year, the business posted $0.78 earnings per share. The business’s revenue for the quarter was up 2.8% on a year-over-year basis. Analysts anticipate that SYSCO Co. will post 3.4 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, January 25th. Shareholders of record on Friday, January 4th were issued a dividend of $0.39 per share. The ex-dividend date was Thursday, January 3rd. This represents a $1.56 annualized dividend and a yield of 2.36%. This is an increase from SYSCO’s previous quarterly dividend of $0.36. SYSCO’s payout ratio is currently 49.68%.
In other SYSCO news, Director Richard G. Tilghman sold 5,000 shares of SYSCO stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $66.17, for a total transaction of $330,850.00. Following the transaction, the director now owns 7,055 shares of the company’s stock, valued at $466,829.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Trian Fund Management, L.P. sold 1,524,475 shares of SYSCO stock in a transaction that occurred on Wednesday, November 28th. The shares were sold at an average price of $66.50, for a total transaction of $101,377,587.50. Following the transaction, the director now directly owns 7,055 shares in the company, valued at approximately $469,157.50. The disclosure for this sale can be found here. Insiders have sold 3,827,484 shares of company stock worth $254,213,821 in the last ninety days. Insiders own 7.88% of the company’s stock.
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.
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.