Trian Fund Management L.P. lifted its stake in shares of SYSCO Co. (NYSE:SYY) by 0.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 44,499,052 shares of the company’s stock after purchasing an additional 6,528 shares during the quarter. SYSCO comprises 22.9% of Trian Fund Management L.P.’s portfolio, making the stock its 2nd largest position. Trian Fund Management L.P. owned approximately 8.53% of SYSCO worth $2,702,427,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in the company. Ameriprise Financial Inc. increased its position in SYSCO by 2.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 10,451,813 shares of the company’s stock valued at $563,890,000 after acquiring an additional 208,815 shares during the period. Parnassus Investments CA increased its position in SYSCO by 1.8% in the 4th quarter. Parnassus Investments CA now owns 7,547,366 shares of the company’s stock valued at $458,352,000 after acquiring an additional 136,965 shares during the period. American Century Companies Inc. increased its position in SYSCO by 7.5% in the 4th quarter. American Century Companies Inc. now owns 6,578,176 shares of the company’s stock valued at $399,493,000 after acquiring an additional 457,259 shares during the period. Janus Henderson Group PLC increased its position in SYSCO by 4.6% in the 3rd quarter. Janus Henderson Group PLC now owns 5,969,351 shares of the company’s stock valued at $322,047,000 after acquiring an additional 261,748 shares during the period. Finally, Bank of New York Mellon Corp increased its position in SYSCO by 0.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 5,707,166 shares of the company’s stock valued at $307,903,000 after acquiring an additional 51,159 shares during the period. Institutional investors and hedge funds own 79.05% of the company’s stock.
Several equities analysts have recently issued reports on the company. Pivotal Research lifted their price target on SYSCO from $53.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, December 12th. Loop Capital lifted their price target on SYSCO to $68.00 and gave the company a “buy” rating in a research report on Monday, December 11th. BMO Capital Markets set a $66.00 price target on SYSCO and gave the company a “buy” rating in a research report on Friday, December 8th. Bank of America lifted their price target on SYSCO from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Tuesday, February 6th. Finally, Morgan Stanley upgraded SYSCO from an “underweight” rating to an “equal weight” rating and set a $64.00 price target on the stock in a research report on Tuesday, January 16th. Six analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price 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 consensus estimate of $0.65 by $0.01. The business had revenue of $14.41 billion during the quarter, compared to analyst estimates of $14.15 billion. SYSCO had a return on equity of 61.02% and a net margin of 2.10%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same period last year, the company posted $0.58 EPS. research analysts anticipate that SYSCO Co. will post 2.95 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 27th. Stockholders of record on Friday, April 6th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Thursday, April 5th. SYSCO’s dividend payout ratio is presently 64.29%.
In other news, EVP Wayne Shurts sold 7,800 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $58.98, for a total transaction of $460,044.00. Following the completion of the sale, the executive vice president now directly owns 55,235 shares of the company’s stock, valued at approximately $3,257,760.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Greg D. Bertrand sold 81,038 shares of the firm’s 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 sale, the senior vice president now directly 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 three months, insiders have sold 144,429 shares of company stock valued at $8,784,264. Corporate insiders own 9.60% of the company’s stock.
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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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