Airain ltd Acquires New Position in Sysco Corporation (SYY)

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.

Institutional Ownership by Quarter for Sysco Corporation (NYSE:SYY)

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%.

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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.

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