Meadow Creek Investment Management LLC grew its stake in shares of SYSCO Co. (NYSE:SYY) by 0.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 147,254 shares of the company’s stock after purchasing an additional 1,054 shares during the quarter. Meadow Creek Investment Management LLC’s holdings in SYSCO were worth $8,943,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Ameriprise Financial Inc. boosted its stake in shares of SYSCO by 2.0% during the third quarter. Ameriprise Financial Inc. now owns 10,451,813 shares of the company’s stock valued at $563,890,000 after purchasing an additional 208,815 shares during the period. Parnassus Investments CA boosted its stake in shares of SYSCO by 1.8% during the fourth quarter. Parnassus Investments CA now owns 7,547,366 shares of the company’s stock valued at $458,352,000 after purchasing an additional 136,965 shares during the period. American Century Companies Inc. boosted its stake in shares of SYSCO by 7.5% during the fourth quarter. American Century Companies Inc. now owns 6,578,176 shares of the company’s stock valued at $399,493,000 after purchasing an additional 457,259 shares during the period. Janus Henderson Group PLC boosted its stake in shares of SYSCO by 4.6% during the third quarter. Janus Henderson Group PLC now owns 5,969,351 shares of the company’s stock valued at $322,047,000 after purchasing an additional 261,748 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of SYSCO by 0.9% during the third quarter. Bank of New York Mellon Corp now owns 5,707,166 shares of the company’s stock valued at $307,903,000 after purchasing an additional 51,159 shares during the period. 79.05% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently issued reports on the stock. Loop Capital boosted their target price on shares of SYSCO from $68.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Pivotal Research boosted their target price on shares of SYSCO from $53.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, December 12th. Morgan Stanley raised shares of SYSCO from an “underweight” rating to an “equal weight” rating and set a $64.00 target price for the company in a research note on Tuesday, January 16th. Zacks Investment Research raised shares of SYSCO from a “hold” rating to a “strong-buy” rating and set a $71.00 target price for the company in a research note on Wednesday, January 10th. Finally, BMO Capital Markets set a $66.00 target price on shares of SYSCO and gave the company a “buy” rating in a research note on Friday, December 8th. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $65.20.
SYSCO (NYSE:SYY) last released its quarterly earnings data on Monday, February 5th. The company reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.01. SYSCO had a net margin of 2.10% and a return on equity of 61.02%. The company had revenue of $14.41 billion during the quarter, compared to analyst estimates of $14.15 billion. During the same period in the prior year, the firm earned $0.58 earnings per share. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. analysts anticipate that SYSCO Co. will post 2.95 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Friday, April 6th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend is Thursday, April 5th. SYSCO’s dividend payout ratio (DPR) is presently 64.29%.
In other SYSCO news, SVP William W. Goetz sold 11,323 shares of the business’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $62.00, for a total value of $702,026.00. Following the completion of the transaction, the senior vice president now directly owns 35,825 shares in the company, valued at $2,221,150. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Greg D. Bertrand sold 81,038 shares of the business’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $60.76, for a total transaction of $4,923,868.88. Following the completion of the transaction, the senior vice president now owns 69,721 shares of the company’s stock, valued at $4,236,247.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 144,429 shares of company stock valued at $8,784,264. 9.60% of the stock is owned by insiders.
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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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