SYSCO Co. (SYY) Stake Lessened by Westpac Banking Corp
Westpac Banking Corp decreased its holdings in SYSCO Co. (NYSE:SYY) by 17.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 163,691 shares of the company’s stock after selling 33,900 shares during the quarter. Westpac Banking Corp’s holdings in SYSCO were worth $9,941,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in SYY. First Personal Financial Services grew its stake in shares of SYSCO by 293.2% in the third quarter. First Personal Financial Services now owns 1,962 shares of the company’s stock worth $106,000 after purchasing an additional 1,463 shares in the last quarter. Acrospire Investment Management LLC boosted its stake in SYSCO by 84.6% during the second quarter. Acrospire Investment Management LLC now owns 2,400 shares of the company’s stock valued at $121,000 after buying an additional 1,100 shares in the last quarter. Manchester Capital Management LLC boosted its stake in SYSCO by 13.4% during the second quarter. Manchester Capital Management LLC now owns 2,538 shares of the company’s stock valued at $128,000 after buying an additional 300 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in SYSCO by 465.7% during the third quarter. Advisors Asset Management Inc. now owns 2,783 shares of the company’s stock valued at $150,000 after buying an additional 2,291 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC boosted its stake in SYSCO by 51.9% during the third quarter. Thompson Siegel & Walmsley LLC now owns 2,926 shares of the company’s stock valued at $158,000 after buying an additional 1,000 shares in the last quarter. 80.08% of the stock is owned by institutional investors.
In other news, CEO William J. Delaney III sold 150,000 shares of the company’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $54.05, for a total transaction of $8,107,500.00. Following the completion of the sale, the chief executive officer now directly owns 526,725 shares of the company’s stock, valued at $28,469,486.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Wayne Shurts sold 7,800 shares of the company’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $54.86, for a total value of $427,908.00. Following the sale, the executive vice president now directly owns 58,776 shares of the company’s stock, valued at $3,224,451.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 302,495 shares of company stock valued at $17,294,631. 9.60% of the stock is currently owned by company insiders.
Shares of SYSCO Co. (NYSE SYY) opened at $62.22 on Friday. SYSCO Co. has a fifty-two week low of $48.85 and a fifty-two week high of $62.79. The company has a market capitalization of $32,420.00, a price-to-earnings ratio of 28.41, a PEG ratio of 2.43 and a beta of 0.53. The company has a current ratio of 1.40, a quick ratio of 0.88 and a debt-to-equity ratio of 3.77.
SYSCO (NYSE:SYY) last announced its earnings results on Monday, November 6th. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.72 by $0.02. SYSCO had a return on equity of 58.47% and a net margin of 2.12%. The business had revenue of $14.65 billion during the quarter, compared to the consensus estimate of $14.43 billion. During the same period in the prior year, the business posted $0.67 earnings per share. SYSCO’s revenue was up 4.9% compared to the same quarter last year. sell-side analysts anticipate that SYSCO Co. will post 2.85 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Friday, January 5th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.31%. This is an increase from SYSCO’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Thursday, January 4th. SYSCO’s dividend payout ratio is currently 65.75%.
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SYSCO Company 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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