Veriti Management LLC Buys 210 Shares of Sysco Co. (NYSE:SYY)

Veriti Management LLC increased its stake in Sysco Co. (NYSE:SYYGet Rating) by 1.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,025 shares of the company’s stock after acquiring an additional 210 shares during the quarter. Veriti Management LLC’s holdings in Sysco were worth $1,063,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Sysco by 5.6% in the 4th quarter. BlackRock Inc. now owns 31,519,868 shares of the company’s stock valued at $2,475,887,000 after acquiring an additional 1,677,431 shares in the last quarter. State Street Corp grew its position in Sysco by 0.6% in the 4th quarter. State Street Corp now owns 24,068,515 shares of the company’s stock valued at $1,890,582,000 after purchasing an additional 148,172 shares during the period. Lazard Asset Management LLC grew its position in Sysco by 8.4% in the 4th quarter. Lazard Asset Management LLC now owns 13,020,585 shares of the company’s stock valued at $1,022,765,000 after purchasing an additional 1,009,837 shares during the period. Geode Capital Management LLC grew its position in Sysco by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 7,854,811 shares of the company’s stock valued at $615,028,000 after purchasing an additional 242,350 shares during the period. Finally, American Century Companies Inc. grew its position in Sysco by 9.3% in the 4th quarter. American Century Companies Inc. now owns 6,622,309 shares of the company’s stock valued at $520,183,000 after purchasing an additional 562,270 shares during the period. Institutional investors own 80.64% of the company’s stock.

In other news, EVP Greg D. Bertrand sold 50,000 shares of the company’s stock in a transaction dated Thursday, April 21st. The stock was sold at an average price of $90.00, for a total transaction of $4,500,000.00. Following the sale, the executive vice president now directly owns 32,324 shares in the company, valued at $2,909,160. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Aaron E. Alt purchased 1,000 shares of the firm’s stock in a transaction dated Tuesday, June 21st. The shares were bought at an average price of $80.09 per share, for a total transaction of $80,090.00. Following the completion of the transaction, the chief financial officer now owns 14,220 shares of the company’s stock, valued at $1,138,879.80. The disclosure for this purchase can be found here. Insiders own 0.31% of the company’s stock.

Several research firms recently issued reports on SYY. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Monday. Piper Sandler lifted their price target on shares of Sysco from $83.00 to $90.00 and gave the company an “overweight” rating in a research report on Friday, April 8th. Morgan Stanley lifted their price objective on shares of Sysco from $86.00 to $94.00 in a report on Wednesday, May 11th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Sysco from $82.00 to $84.00 in a report on Wednesday, May 11th. Finally, Credit Suisse Group lifted their price objective on shares of Sysco from $97.00 to $107.00 in a report on Wednesday, May 11th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $93.67.

NYSE SYY opened at $78.30 on Thursday. The stock has a market capitalization of $39.89 billion, a price-to-earnings ratio of 40.36, a PEG ratio of 2.22 and a beta of 1.15. Sysco Co. has a one year low of $68.05 and a one year high of $91.53. The company has a debt-to-equity ratio of 8.03, a current ratio of 1.24 and a quick ratio of 0.72. The business’s fifty day moving average is $83.58 and its 200-day moving average is $81.18.

Sysco (NYSE:SYYGet Rating) last announced its quarterly earnings data on Tuesday, May 10th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.17. Sysco had a return on equity of 100.62% and a net margin of 1.52%. The business had revenue of $16.90 billion for the quarter, compared to analysts’ expectations of $15.99 billion. During the same period in the previous year, the business posted $0.22 EPS. The firm’s quarterly revenue was up 42.9% compared to the same quarter last year. Research analysts expect that Sysco Co. will post 3.23 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 22nd. Investors of record on Friday, July 1st will be paid a $0.49 dividend. This is a boost from Sysco’s previous quarterly dividend of $0.47. This represents a $1.96 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Thursday, June 30th. Sysco’s payout ratio is currently 96.91%.

Sysco Company Profile (Get Rating)

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products primarily to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.

See Also

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Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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