MML Investors Services LLC boosted its position in Sysco Co. (NYSE: SYY – Get Rating) by 5.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 38,522 shares of the company stock after purchasing an additional 1,882 shares during the period. MML Investors Services LLC’s holdings in Sysco were worth $ 3,026,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. State Street Corp increased its position in shares of Sysco by 0.6% during the 4th quarter. State Street Corp now owns 24,068,515 shares of the company stock valued at $ 1,890,582,000 after purchasing an additional 148,172 shares during the last quarter. Lazard Asset Management LLC raised its position in Sysco by 8.4% in the fourth quarter. Lazard Asset Management LLC now owns 13,020,585 shares of the company stock worth $ 1,022,765,000 after acquiring an additional 1,009,837 shares during the period. Geode Capital Management LLC boosted its stake in Sysco by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 7,854,811 shares of the company stock valued at $ 615,028,000 after acquiring an additional 242,350 shares during the last quarter. American Century Companies Inc. grew its position in shares of Sysco by 9.3% during the 4th quarter. American Century Companies Inc. now owns 6,622,309 shares of the company stock valued at $ 520,183,000 after acquiring an additional 562,270 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Sysco by 4.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,543,132 shares of the company stock worth $ 199,764,000 after purchasing an additional 98,882 shares during the last quarter. Hedge funds and other institutional investors own 80.64% of the company stock.
Several equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft increased their price objective on Sysco from $ 82.00 to $ 84.00 in a report on Wednesday, May 11th. Credit Suisse Group lifted their price objective on Sysco from $ 97.00 to $ 107.00 in a report on Wednesday, May 11th. CL King initiated coverage on shares of Sysco in a report on Friday, March 11th. They set a “neutral” rating on the stock. Piper Sandler lifted their target price on shares of Sysco from $ 83.00 to $ 90.00 and gave the stock an “overweight” rating in a research note on Friday, April 8th. Finally, StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 11th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $ 93.67.
In other Sysco news, CEO Kevin Hourican sold 75,018 shares of the stock in a transaction that occurred on Friday, April 8th. The shares were sold at an average price of $ 86.00, for a total transaction of $ 6,451,548.00. Following the transaction, the chief executive officer now directly owns 88,477 shares in the company, valued at $ 7,609,022. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Greg D. Bertrand sold 800 shares of the business’s stock in a transaction that occurred on Wednesday, March 16th. The stock was sold at an average price of $ 78.30, for a total transaction of $ 62,640.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 125,818 shares of company stock valued at $ 11,014,188. Corporate insiders own 0.31% of the company stock.
Sysco stock opened at $ 81.91 on Friday. Sysco Co. has a 1-year low of $ 68.05 and a 1-year high of $ 91.53. The company has a current ratio of 1.24, a quick ratio of 0.72 and a debt-to-equity ratio of 8.03. The firm has a market capitalization of $ 41.73 billion, a PE ratio of 42.22, a price-to-earnings-growth ratio of 2.32 and a beta of 1.15. The firm’s 50 day simple moving average is $ 84.35 and its 200 day simple moving average is $ 80.81.
Sysco (NYSE: SYY – Get Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported $ 0.71 earnings per share for the quarter, topping the consensus estimate of $ 0.54 by $ 0.17. The firm had revenue of $ 16.90 billion for the quarter, compared to analysts’ expectations of $ 15.99 billion. Sysco had a net margin of 1.52% and a return on equity of 100.62%. The business’s quarterly revenue was up 42.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $ 0.22 earnings per share. Research analysts forecast that Sysco Co. will post 3.23 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 22nd. Shareholders of record on Friday, July 1st will be issued a $ 0.49 dividend. The ex-dividend date is Thursday, June 30th. This represents a $ 1.96 annualized dividend and a dividend yield of 2.39%. This is a boost from Sysco’s previous quarterly dividend of $ 0.47. Sysco’s dividend payout ratio (DPR) is presently 96.91%.
About Sysco: (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 US Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.
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