Candriam Luxembourg S.C.A. increased its position in Sysco Corp. (NYSE:SYY) by 2.6% during the second quarter, Holdings Channel reports. The institutional investor owned 41,403 shares of the company’s stock after buying an additional 1,050 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Sysco Corp. were worth $2,101,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in SYY. CIBC World Markets Inc. boosted its position in shares of Sysco Corp. by 265.7% in the first quarter. CIBC World Markets Inc. now owns 40,592 shares of the company’s stock worth $1,897,000 after buying an additional 29,491 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of Sysco Corp. by 24.4% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 202,633 shares of the company’s stock worth $9,469,000 after buying an additional 39,705 shares during the last quarter. Ngam Advisors L.P. raised its stake in shares of Sysco Corp. by 269.5% in the first quarter. Ngam Advisors L.P. now owns 279,309 shares of the company’s stock worth $13,052,000 after buying an additional 203,720 shares during the last quarter. Teachers Advisors Inc. raised its stake in shares of Sysco Corp. by 7.3% in the first quarter. Teachers Advisors Inc. now owns 955,398 shares of the company’s stock worth $44,646,000 after buying an additional 65,051 shares during the last quarter. Finally, Stratos Wealth Partners LTD. raised its stake in shares of Sysco Corp. by 12.5% in the first quarter. Stratos Wealth Partners LTD. now owns 11,581 shares of the company’s stock worth $541,000 after buying an additional 1,288 shares during the last quarter. 76.65% of the stock is currently owned by institutional investors.
Sysco Corp. (NYSE:SYY) traded down 0.04% during mid-day trading on Friday, hitting $49.01. 3,490,722 shares of the stock traded hands. The stock has a 50-day moving average price of $51.10 and a 200-day moving average price of $49.56. The stock has a market cap of $27.21 billion, a P/E ratio of 29.88 and a beta of 0.56. Sysco Corp. has a 12 month low of $38.84 and a 12 month high of $53.97.
Sysco Corp. (NYSE:SYY) last released its quarterly earnings results on Monday, August 15th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.03. Sysco Corp. had a net margin of 1.89% and a return on equity of 28.67%. The firm earned $13.65 billion during the quarter, compared to the consensus estimate of $13.68 billion. During the same quarter in the prior year, the firm earned $0.52 EPS. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, equities analysts forecast that Sysco Corp. will post $2.31 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 7th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.24 annualized dividend and a dividend yield of 2.53%. Sysco Corp.’s dividend payout ratio (DPR) is presently 75.15%.
SYY has been the subject of a number of analyst reports. Barclays PLC initiated coverage on Sysco Corp. in a research note on Friday, September 23rd. They issued an “underweight” rating and a $48.00 price target for the company. Jefferies Group reiterated a “hold” rating and issued a $50.00 price target on shares of Sysco Corp. in a research note on Friday. Argus increased their price target on Sysco Corp. from $56.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, August 19th. Bank of America Corp. set a $54.00 price target on Sysco Corp. and gave the stock a “hold” rating in a research note on Saturday, September 17th. Finally, Deutsche Bank AG initiated coverage on Sysco Corp. in a research note on Monday, July 18th. They issued a “hold” rating and a $52.00 price target for the company. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. Sysco Corp. presently has an average rating of “Hold” and an average target price of $50.45.
In related news, CFO Joel T. Grade sold 16,368 shares of the company’s stock in a transaction dated Wednesday, July 13th. The shares were sold at an average price of $52.01, for a total transaction of $851,299.68. Following the completion of the transaction, the chief financial officer now owns 60,031 shares in the company, valued at approximately $3,122,212.31. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO William J. Delaney III sold 20,114 shares of the company’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $49.51, for a total transaction of $995,844.14. Following the transaction, the chief executive officer now owns 422,507 shares of the company’s stock, valued at approximately $20,918,321.57. The disclosure for this sale can be found here. Corporate insiders own 7.77% of the company’s stock.
Sysco Corp. Company Profile
Sysco Corporation (Sysco) along with its subsidiaries and divisions, is a North American distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company provides products and related services to approximately 425,000 customers, including restaurants, healthcare and educational facilities, lodging establishments and other foodservice customers.
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