Vanguard Group Inc. boosted its stake in shares of Sysco Co. (NYSE:SYY – Get Rating) by 0.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 45,402,613 shares of the company’s stock after purchasing an additional 409,441 shares during the period. Vanguard Group Inc. owned approximately 8.86% of Sysco worth $3,707,123,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Qube Research & Technologies Ltd acquired a new stake in Sysco during the 1st quarter worth about $1,876,000. MML Investors Services LLC grew its position in Sysco by 5.1% during the 4th quarter. MML Investors Services LLC now owns 38,522 shares of the company’s stock worth $3,026,000 after purchasing an additional 1,882 shares during the period. Vestmark Advisory Solutions Inc. grew its position in shares of Sysco by 26.9% during the 1st quarter. Vestmark Advisory Solutions Inc. now owns 12,834 shares of the company’s stock valued at $1,048,000 after acquiring an additional 2,724 shares during the period. CWM LLC grew its position in shares of Sysco by 62.4% during the 1st quarter. CWM LLC now owns 6,170 shares of the company’s stock valued at $504,000 after acquiring an additional 2,370 shares during the period. Finally, Red Door Wealth Management LLC acquired a new stake in shares of Sysco during the 1st quarter valued at about $205,000. 82.43% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Sysco
In other news, CFO Aaron E. Alt bought 1,000 shares of the stock in a transaction that occurred on Tuesday, June 21st. The stock was bought at an average cost of $80.09 per share, for a total transaction of $80,090.00. Following the acquisition, the chief financial officer now directly owns 14,220 shares of the company’s stock, valued at approximately $1,138,879.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.31% of the company’s stock.
Wall Street Analysts Forecast Growth
Sysco Stock Performance
NYSE SYY opened at $83.04 on Friday. The stock has a market cap of $42.03 billion, a PE ratio of 31.45, a P/E/G ratio of 2.19 and a beta of 1.01. The company has a current ratio of 1.20, a quick ratio of 0.69 and a debt-to-equity ratio of 7.28. Sysco Co. has a twelve month low of $68.05 and a twelve month high of $91.53. The stock has a fifty day simple moving average of $85.17 and a 200-day simple moving average of $83.86.
Sysco (NYSE:SYY – Get Rating) last released its quarterly earnings results on Tuesday, August 9th. The company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.03. The business had revenue of $18.96 billion during the quarter, compared to analysts’ expectations of $18.29 billion. Sysco had a return on equity of 119.55% and a net margin of 1.98%. The company’s revenue was up 17.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.71 EPS. Equities analysts anticipate that Sysco Co. will post 4.2 earnings per share for the current year.
Sysco Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 7th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend is Thursday, October 6th. Sysco’s dividend payout ratio is presently 74.24%.
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.
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