B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Sysco Co. (NYSE:SYY - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 55,678 shares of the company's stock, valued at approximately $4,346,000.
A number of other large investors also recently modified their holdings of the company. Capital Research Global Investors boosted its position in Sysco by 112.8% during the 1st quarter. Capital Research Global Investors now owns 6,612,092 shares of the company's stock worth $536,770,000 after buying an additional 3,504,740 shares during the period. ProShare Advisors LLC lifted its holdings in shares of Sysco by 103.0% during the second quarter. ProShare Advisors LLC now owns 4,746,176 shares of the company's stock worth $338,830,000 after purchasing an additional 2,408,226 shares during the period. Swedbank AB bought a new stake in shares of Sysco in the first quarter worth $178,824,000. Diamond Hill Capital Management Inc. increased its holdings in Sysco by 49.8% in the second quarter. Diamond Hill Capital Management Inc. now owns 6,012,607 shares of the company's stock valued at $429,240,000 after purchasing an additional 1,997,895 shares during the period. Finally, Ameriprise Financial Inc. raised its position in 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 purchasing an additional 1,782,180 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors.
SYY has been the subject of several recent research reports. Barclays increased their price target on Sysco from $85.00 to $88.00 and gave the company an "overweight" rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. raised their price target on shares of Sysco from $85.00 to $88.00 and gave the stock an "overweight" rating in a report on Monday, September 16th. StockNews.com downgraded shares of Sysco from a "strong-buy" rating to a "buy" rating in a research report on Monday, October 21st. Wells Fargo & Company lowered 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. Finally, Jefferies Financial Group upped their price target on shares of Sysco from $91.00 to $92.00 and gave the company a "buy" rating in a research report on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $85.77.
Check Out Our Latest Stock Report on SYY
In other news, SVP Eve M. Mcfadden sold 4,036 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $75.10, for a total value of $303,103.60. Following the completion of the sale, the senior vice president now owns 48,451 shares in the company, valued at $3,638,670.10. This represents a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sheila Talton sold 2,900 shares of the business's stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $74.63, for a total transaction of $216,427.00. Following the transaction, the director now owns 12,955 shares in the company, valued at approximately $966,831.65. This trade represents a 18.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company's stock.
Shares of NYSE:SYY opened at $73.63 on Thursday. Sysco Co. has a twelve month low of $69.03 and a twelve month high of $82.89. The stock's 50 day moving average is $75.74 and its 200-day moving average is $74.74. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38. The firm has a market capitalization of $36.17 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 1.97 and a beta of 1.20.
Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The company reported $1.09 earnings per share for the quarter, missing analysts' consensus estimates of $1.13 by ($0.04). The business had revenue of $20.48 billion during the quarter, compared to the consensus estimate of $20.47 billion. Sysco had a net margin of 2.44% and a return on equity of 101.04%. The firm's quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the business posted $1.07 earnings per share. Sell-side analysts forecast that Sysco Co. will post 4.57 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Stockholders of record on Friday, January 3rd will be paid a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Friday, January 3rd. Sysco's dividend payout ratio (DPR) is presently 52.44%.
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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