Sysco Corporation (SYY) Position Boosted by Axa
Axa lifted its holdings in shares of Sysco Corporation (NYSE:SYY) by 1.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 436,079 shares of the company’s stock after acquiring an additional 8,303 shares during the quarter. Axa owned approximately 0.08% of Sysco worth $23,527,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Janus Henderson Group PLC grew its stake in Sysco by 9,055.0% in the second quarter. Janus Henderson Group PLC now owns 5,707,603 shares of the company’s stock worth $287,264,000 after purchasing an additional 5,645,259 shares during the period. American Century Companies Inc. grew its stake in Sysco by 47.6% in the second quarter. American Century Companies Inc. now owns 5,054,930 shares of the company’s stock worth $254,415,000 after purchasing an additional 1,629,990 shares during the period. Capital World Investors grew its stake in Sysco by 11.7% in the second quarter. Capital World Investors now owns 13,767,000 shares of the company’s stock worth $692,893,000 after purchasing an additional 1,445,000 shares during the period. Nordea Investment Management AB grew its stake in Sysco by 252.7% in the second quarter. Nordea Investment Management AB now owns 1,928,089 shares of the company’s stock worth $97,041,000 after purchasing an additional 1,381,441 shares during the period. Finally, Parnassus Investments CA grew its stake in Sysco by 20.3% in the third quarter. Parnassus Investments CA now owns 7,410,401 shares of the company’s stock worth $399,791,000 after purchasing an additional 1,250,005 shares during the period. Institutional investors own 80.22% of the company’s stock.
Shares of Sysco Corporation (SYY) opened at $60.95 on Monday. The company has a quick ratio of 0.88, a current ratio of 1.40 and a debt-to-equity ratio of 3.77. Sysco Corporation has a 12 month low of $48.85 and a 12 month high of $62.79. The company has a market capitalization of $31,758.37, a price-to-earnings ratio of 23.90, a PEG ratio of 2.61 and a beta of 0.54.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 5th will be given a dividend of $0.36 per share. The ex-dividend date is Thursday, January 4th. This is a boost from Sysco’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a dividend yield of 2.36%. Sysco’s dividend payout ratio (DPR) is 60.00%.
In other Sysco news, Director Trian Fund Management, L.P. acquired 889,561 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The shares were bought at an average cost of $53.68 per share, with a total value of $47,751,634.48. Following the completion of the transaction, the director now directly owns 5,529 shares of the company’s stock, valued at approximately $296,796.72. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William J. Delaney III sold 400,000 shares of the stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $53.91, for a total value of $21,564,000.00. Following the sale, the chief executive officer now directly owns 576,725 shares in the company, valued at $31,091,244.75. The disclosure for this sale can be found here. Insiders have sold 1,627,867 shares of company stock worth $87,992,178 over the last ninety days. 9.60% of the stock is currently owned by insiders.
Several equities research analysts recently weighed in on SYY shares. Zacks Investment Research raised Sysco from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Tuesday, October 10th. Pivotal Research increased their target price on Sysco from $53.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Loop Capital increased their target price on Sysco to $68.00 and gave the stock a “buy” rating in a research note on Monday, December 11th. Finally, BMO Capital Markets set a $66.00 target price on Sysco and gave the stock a “buy” rating in a research note on Friday, December 8th. Seven investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Sysco has a consensus rating of “Buy” and a consensus target price of $58.55.
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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