Virginia Retirement Systems ET AL Has $27.36 Million Position in Sysco Corporation (SYY)
Virginia Retirement Systems ET AL increased its stake in shares of Sysco Corporation (NYSE:SYY) by 0.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 543,700 shares of the company’s stock after purchasing an additional 2,100 shares during the quarter. Virginia Retirement Systems ET AL owned 0.10% of Sysco Corporation worth $27,364,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SYY. BlackRock Inc. grew its stake in Sysco Corporation by 2,088.2% during the 1st quarter. BlackRock Inc. now owns 32,207,618 shares of the company’s stock worth $1,672,219,000 after purchasing an additional 30,735,711 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Sysco Corporation by 86.7% during the 1st quarter. Victory Capital Management Inc. now owns 2,426,247 shares of the company’s stock worth $125,971,000 after buying an additional 1,126,573 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Sysco Corporation by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 37,910,943 shares of the company’s stock worth $1,968,336,000 after buying an additional 1,064,162 shares during the last quarter. Bank of America Corp DE lifted its holdings in Sysco Corporation by 18.3% during the 1st quarter. Bank of America Corp DE now owns 4,745,874 shares of the company’s stock worth $246,405,000 after buying an additional 733,433 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in Sysco Corporation by 21.1% during the 1st quarter. American Century Companies Inc. now owns 3,424,940 shares of the company’s stock worth $177,823,000 after buying an additional 596,224 shares during the last quarter. 79.97% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Wayne Shurts sold 7,800 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $50.82, for a total transaction of $396,396.00. Following the completion of the sale, the executive vice president now directly owns 58,776 shares in the company, valued at $2,986,996.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William J. Delaney III sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $49.92, for a total value of $1,497,600.00. Following the sale, the chief executive officer now owns 406,725 shares of the company’s stock, valued at $20,303,712. The disclosure for this sale can be found here. Insiders have sold 106,800 shares of company stock valued at $5,436,180 over the last 90 days. Insiders own 8.81% of the company’s stock.
A number of analysts have issued reports on the company. BidaskClub downgraded Sysco Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Wells Fargo & Company reaffirmed a “buy” rating on shares of Sysco Corporation in a report on Friday, June 23rd. Jefferies Group LLC reaffirmed a “hold” rating and set a $51.00 price target on shares of Sysco Corporation in a report on Friday, August 4th. BMO Capital Markets set a $60.00 price target on Sysco Corporation and gave the stock a “buy” rating in a report on Thursday, August 3rd. Finally, Pivotal Research set a $53.00 price target on Sysco Corporation and gave the stock a “hold” rating in a report on Sunday, August 13th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $56.17.
Shares of Sysco Corporation (NYSE SYY) opened at 53.49 on Thursday. The stock has a market capitalization of $28.24 billion, a P/E ratio of 25.72 and a beta of 0.52. The stock has a 50 day moving average price of $52.13 and a 200 day moving average price of $52.54. Sysco Corporation has a 12-month low of $47.15 and a 12-month high of $57.07.
Sysco Corporation (NYSE:SYY) last announced its earnings results on Monday, August 14th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.01. The company had revenue of $14.40 billion during the quarter, compared to the consensus estimate of $14.35 billion. Sysco Corporation had a return on equity of 53.25% and a net margin of 2.06%. The company’s revenue was up 5.5% on a year-over-year basis. During the same period last year, the firm earned $0.64 earnings per share. On average, equities analysts anticipate that Sysco Corporation will post $2.76 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 6th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.32 annualized dividend and a dividend yield of 2.47%. Sysco Corporation’s dividend payout ratio is presently 63.16%.
Sysco Corporation Profile
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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