Airain ltd acquired a new position in Sysco Corporation (NYSE:SYY) during the first quarter, according to its most recent filing with the SEC. The firm acquired 7,357 shares of the company’s stock, valued at approximately $382,000.
A number of other institutional investors have also recently modified their holdings of the company. Ameriprise Financial Inc. raised its position in shares of Sysco Corporation by 1.2% in the first quarter. Ameriprise Financial Inc. now owns 9,837,807 shares of the company’s stock worth $510,776,000 after buying an additional 118,939 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Sysco Corporation by 6.1% in the first quarter. Bank of New York Mellon Corp now owns 6,688,003 shares of the company’s stock worth $347,241,000 after buying an additional 385,492 shares in the last quarter. Janus Capital Management LLC raised its position in shares of Sysco Corporation by 2.7% in the fourth quarter. Janus Capital Management LLC now owns 6,544,364 shares of the company’s stock worth $362,361,000 after buying an additional 170,780 shares in the last quarter. Bank of Montreal Can raised its position in shares of Sysco Corporation by 47.0% in the first quarter. Bank of Montreal Can now owns 6,247,295 shares of the company’s stock worth $324,360,000 after buying an additional 1,996,198 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Sysco Corporation during the fourth quarter worth approximately $275,553,000. Hedge funds and other institutional investors own 78.93% of the company’s stock.
Shares of Sysco Corporation (NYSE SYY) opened at 49.92 on Monday. Sysco Corporation has a 12 month low of $47.15 and a 12 month high of $57.07. The company has a market cap of $26.72 billion, a P/E ratio of 26.32 and a beta of 0.53. The company’s 50 day moving average is $54.64 and its 200-day moving average is $53.67.
Sysco Corporation (NYSE:SYY) last released its quarterly earnings data on Monday, May 8th. The company reported $0.51 EPS for the quarter, hitting analysts’ consensus estimates of $0.51. The company had revenue of $13.52 billion during the quarter, compared to the consensus estimate of $13.14 billion. Sysco Corporation had a net margin of 1.93% and a return on equity of 47.28%. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period last year, the firm earned $0.46 EPS. Analysts expect that Sysco Corporation will post $2.47 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Friday, July 7th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend is Wednesday, July 5th. Sysco Corporation’s payout ratio is 69.47%.
TRADEMARK VIOLATION WARNING: This report was first posted by sleekmoney and is the property of of sleekmoney. If you are reading this report on another publication, it was stolen and reposted in violation of United States and international trademark and copyright law. The original version of this report can be viewed at https://sleekmoney.com/airain-ltd-acquires-new-position-in-sysco-corporation-syy/1939624.html.
SYY has been the topic of a number of recent analyst reports. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $57.00 price objective on shares of Sysco Corporation in a report on Friday. Zacks Investment Research upgraded shares of Sysco Corporation from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a report on Tuesday, May 9th. Royal Bank Of Canada upped their target price on shares of Sysco Corporation from $48.00 to $50.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 9th. Guggenheim restated a “neutral” rating on shares of Sysco Corporation in a research note on Tuesday, April 11th. Finally, Loop Capital started coverage on shares of Sysco Corporation in a research note on Monday, May 15th. They issued a “buy” rating and a $61.00 target price on the stock. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Sysco Corporation currently has a consensus rating of “Hold” and an average price target of $56.30.
In related news, insider Wayne Shurts sold 15,600 shares of Sysco Corporation stock in a transaction dated Wednesday, April 5th. The shares were sold at an average price of $51.66, for a total transaction of $805,896.00. Following the completion of the transaction, the insider now directly owns 43,176 shares of the company’s stock, valued at approximately $2,230,472.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William J. Delaney III sold 30,000 shares of Sysco Corporation stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $55.55, for a total transaction of $1,666,500.00. Following the transaction, the chief executive officer now directly owns 406,725 shares of the company’s stock, valued at $22,593,573.75. The disclosure for this sale can be found here. Insiders have sold a total of 144,600 shares of company stock valued at $7,798,428 over the last ninety days. 8.81% of the stock is owned by insiders.
About Sysco Corporation
Sysco Corporation (Sysco) is a distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company’s segments include Broadline, SYGMA and Other. The Broadline segment includes its Broadline operations located in the Bahamas, Canada, Costa Rica, Ireland, Mexico and the United States.
Want to see what other hedge funds are holding SYY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sysco Corporation (NYSE:SYY).
This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/airain-ltd-acquires-new-position-in-sysco-corporation-syy/1939624.html
Receive News & Ratings for Sysco Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sysco Corporation and related companies with MarketBeat.com's FREE daily email newsletter.