Czech National Bank raised its position in Sysco Co. (NYSE:SYY – Free Report) by 6.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 106,508 shares of the company’s stock after acquiring an additional 6,332 shares during the period. Czech National Bank’s holdings in Sysco were worth $8,144,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of SYY. State Street Corp lifted its position in shares of Sysco by 11.1% in the third quarter. State Street Corp now owns 27,294,612 shares of the company’s stock worth $2,130,617,000 after purchasing an additional 2,721,449 shares in the last quarter. ProShare Advisors LLC lifted its position in Sysco by 103.0% during the 2nd quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company’s stock worth $338,830,000 after buying an additional 2,408,226 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Sysco by 26.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,623,178 shares of the company’s stock worth $615,076,000 after buying an additional 1,782,180 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Sysco in the 3rd quarter valued at about $137,900,000. Finally, Primecap Management Co. CA increased its position in shares of Sysco by 37.5% in the second quarter. Primecap Management Co. CA now owns 4,373,485 shares of the company’s stock valued at $312,223,000 after acquiring an additional 1,192,650 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.
Insider Activity at Sysco
In related news, SVP Eve M. Mcfadden sold 4,036 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $75.10, for a total transaction of $303,103.60. Following the completion of the sale, the senior vice president now owns 48,451 shares of the company’s stock, valued at $3,638,670.10. This represents a 7.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Greg D. Bertrand sold 21,844 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $80.00, for a total transaction of $1,747,520.00. Following the completion of the transaction, the executive vice president now owns 60,581 shares of the company’s stock, valued at $4,846,480. The trade was a 26.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 83,306 shares of company stock worth $6,485,050. Company insiders own 0.54% of the company’s stock.
Sysco Stock Performance
Sysco (NYSE:SYY – Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.04). Sysco had a net margin of 2.44% and a return on equity of 101.04%. The business had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.47 billion. During the same period in the previous year, the firm posted $1.07 EPS. The company’s revenue was up 4.4% compared to the same quarter last year. Research analysts anticipate that Sysco Co. will post 4.57 earnings per share for the current year.
Sysco Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be given a $0.51 dividend. The ex-dividend date is Friday, January 3rd. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.76%. Sysco’s payout ratio is 52.44%.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on SYY shares. StockNews.com upgraded Sysco from a “buy” rating to a “strong-buy” rating in a research note on Monday. Wells Fargo & Company decreased their target price on shares of Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Jefferies Financial Group increased their price target on shares of Sysco from $91.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Melius Research upgraded shares of Sysco to a “hold” rating in a research note on Wednesday, December 18th. Finally, Melius started coverage on shares of Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $85.93.
Read Our Latest Stock Analysis on Sysco
Sysco Profile
Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products 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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