BlueCrest Capital Management Ltd purchased a new position in shares of SYSCO Co. (NYSE:SYY) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 23,706 shares of the company’s stock, valued at approximately $1,440,000.
Other large investors have also recently added to or reduced their stakes in the company. Candriam Luxembourg S.C.A. increased its stake in SYSCO by 5.8% during the 3rd quarter. Candriam Luxembourg S.C.A. now owns 65,999 shares of the company’s stock worth $3,561,000 after acquiring an additional 3,645 shares during the period. FDx Advisors Inc. increased its stake in SYSCO by 27.6% during the 3rd quarter. FDx Advisors Inc. now owns 35,396 shares of the company’s stock worth $1,910,000 after acquiring an additional 7,652 shares during the period. BNP Paribas Arbitrage SA increased its stake in SYSCO by 4.4% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 328,797 shares of the company’s stock worth $17,739,000 after acquiring an additional 13,960 shares during the period. Sei Investments Co. increased its stake in SYSCO by 17.1% during the 3rd quarter. Sei Investments Co. now owns 279,131 shares of the company’s stock worth $15,059,000 after acquiring an additional 40,736 shares during the period. Finally, Tower Bridge Advisors bought a new position in SYSCO during the 3rd quarter worth $244,000. 79.05% of the stock is owned by institutional investors and hedge funds.
In other news, SVP Greg D. Bertrand sold 81,038 shares of SYSCO stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $60.76, for a total value of $4,923,868.88. Following the transaction, the senior vice president now owns 69,721 shares in the company, valued at approximately $4,236,247.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Wayne Shurts sold 7,800 shares of SYSCO stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $61.76, for a total value of $481,728.00. Following the completion of the transaction, the executive vice president now owns 55,235 shares in the company, valued at approximately $3,411,313.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 152,229 shares of company stock worth $9,265,992. Corporate insiders own 9.60% of the company’s stock.
SYSCO (NYSE:SYY) last issued its quarterly earnings results on Monday, February 5th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. SYSCO had a return on equity of 61.02% and a net margin of 2.10%. The company had revenue of $14.41 billion for the quarter, compared to analyst estimates of $14.15 billion. During the same quarter last year, the company posted $0.58 EPS. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. sell-side analysts expect that SYSCO Co. will post 2.95 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 27th. Stockholders of record on Friday, April 6th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Thursday, April 5th. This represents a $1.44 annualized dividend and a dividend yield of 2.38%. SYSCO’s payout ratio is 62.61%.
A number of research firms have commented on SYY. Loop Capital raised their price objective on SYSCO from $68.00 to $72.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Pivotal Research raised their price objective on SYSCO from $53.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Morgan Stanley upgraded SYSCO from an “underweight” rating to an “equal weight” rating and set a $64.00 price objective on the stock in a research note on Tuesday, January 16th. Zacks Investment Research upgraded SYSCO from a “hold” rating to a “strong-buy” rating and set a $71.00 price objective on the stock in a research note on Wednesday, January 10th. Finally, BMO Capital Markets set a $66.00 price objective on SYSCO and gave the stock a “buy” rating in a research note on Friday, December 8th. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $65.20.
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SYSCO Company Profile
Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.
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