Westwood Holdings Group Inc. grew its stake in Sysco Co. (NYSE: SYY – Get Rating) by 3.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 185,590 shares of the company stock after purchasing an additional 5,527 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Sysco were worth $ 14,578,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. BlackRock Inc. raised its holdings in Sysco by 5.6% in the 4th quarter. BlackRock Inc. now owns 31,519,868 shares of the company stock worth $ 2,475,887,000 after purchasing an additional 1,677,431 shares in the last quarter. State Street Corp raised its holdings in Sysco by 0.6% in the 4th quarter. State Street Corp now owns 24,068,515 shares of the company stock worth $ 1,890,582,000 after purchasing an additional 148,172 shares in the last quarter. Lazard Asset Management LLC increased its stake in shares of Sysco by 8.4% in the 4th 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 in the last quarter. Geode Capital Management LLC increased its stake in shares of Sysco by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 7,854,811 shares of the company stock worth $ 615,028,000 after acquiring an additional 242,350 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Sysco by 9.3% in the 4th quarter. American Century Companies Inc. now owns 6,622,309 shares of the company stock worth $ 520,183,000 after acquiring an additional 562,270 shares in the last quarter. Institutional investors and hedge funds own 80.64% of the company stock.
Several research analysts recently issued reports on the stock. Argus upgraded shares of Sysco from a “hold” rating to a “buy” rating and set a $ 95.00 price target for the company in a research note on Tuesday, February 22nd. Credit Suisse Group increased their price objective on shares of Sysco from $ 97.00 to $ 107.00 in a research report on Wednesday, May 11th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Sysco from $ 82.00 to $ 84.00 in a research report on Wednesday, May 11th. StockNews.com raised shares of Sysco from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 11th. Finally, Barclays cut their objective price on shares of Sysco from $ 102.00 to $ 97.00 and set an “overweight” rating on the stock in a research report on Thursday, June 9th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company stock. According to MarketBeat, Sysco has a consensus rating of “Buy” and a consensus target price of $ 93.67.
Shares of NYSE: SYY opened at $ 78.77 on Friday. The firm’s 50 day moving average price is $ 83.96 and its 200-day moving average price is $ 80.98. Sysco Co. has a twelve month low of $ 68.05 and a twelve month high of $ 91.53. The company has a quick ratio of 0.72, a current ratio of 1.24 and a debt-to-equity ratio of 8.03. The stock has a market capitalization of $ 40.13 billion, a PE ratio of 40.60, a price-to-earnings-growth ratio of 2.27 and a beta of 1.15.
Sysco (NYSE: SYY – Get Rating) last issued its quarterly earnings data 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. Sysco had a net margin of 1.52% and a return on equity of 100.62%. The firm had revenue of $ 16.90 billion for the quarter, compared to analysts’ expectations of $ 15.99 billion. During the same quarter in the prior year, the business earned $ 0.22 EPS. The business’s quarterly revenue was up 42.9% on a year-over-year basis. Analysts expect that Sysco Co. will post 3.23 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 22nd. Stockholders of record on Friday, July 1st will be paid a $ 0.49 dividend. This represents a $ 1.96 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Thursday, June 30th. This is a boost from Sysco’s previous quarterly dividend of $ 0.47. Sysco’s dividend payout ratio is 96.91%.
In other Sysco news, EVP Greg D. Bertrand sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 21st. The shares were 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 owns 32,324 shares in the company, valued at approximately $ 2,909,160. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Kevin Hourican sold 75,018 shares of the firm’s stock in a transaction that occurred on Friday, April 8th. The stock was sold at an average price of $ 86.00, for a total transaction of $ 6,451,548.00. Following the sale, the chief executive officer now owns 88,477 shares in the company, valued at approximately $ 7,609,022. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.
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 US Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.
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