Ameriprise Financial Inc. Has $563.89 Million Stake in Sysco Corporation (SYY)
Ameriprise Financial Inc. lifted its holdings in shares of Sysco Corporation (NYSE:SYY) by 2.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 10,451,813 shares of the company’s stock after acquiring an additional 208,815 shares during the period. Ameriprise Financial Inc. owned approximately 2.00% of Sysco Corporation worth $563,890,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently made changes to their positions in SYY. Teacher Retirement System of Texas increased its position in shares of Sysco Corporation by 2.9% during the 1st quarter. Teacher Retirement System of Texas now owns 590,747 shares of the company’s stock worth $30,672,000 after purchasing an additional 16,375 shares in the last quarter. CWA Asset Management Group LLC increased its position in Sysco Corporation by 20.6% in the 1st quarter. CWA Asset Management Group LLC now owns 60,414 shares of the company’s stock valued at $3,137,000 after acquiring an additional 10,321 shares in the last quarter. Foresters Investment Management Company Inc. increased its position in Sysco Corporation by 29.0% in the 1st quarter. Foresters Investment Management Company Inc. now owns 4,000 shares of the company’s stock valued at $208,000 after acquiring an additional 900 shares in the last quarter. Global X Management Co. LLC increased its position in Sysco Corporation by 27.5% in the 1st quarter. Global X Management Co. LLC now owns 7,424 shares of the company’s stock valued at $385,000 after acquiring an additional 1,601 shares in the last quarter. Finally, MARSHALL WACE ASIA Ltd acquired a new stake in Sysco Corporation in the 1st quarter valued at about $4,962,000. Institutional investors and hedge funds own 79.70% of the company’s stock.
In other Sysco Corporation news, insider Wayne Shurts sold 15,600 shares of Sysco Corporation stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $51.76, for a total value of $807,456.00. Following the transaction, the insider now owns 58,776 shares of the company’s stock, valued at $3,042,245.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Paul T. Moskowitz sold 16,667 shares of Sysco Corporation stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $54.12, for a total transaction of $902,018.04. Following the completion of the transaction, the insider now directly owns 61,936 shares in the company, valued at approximately $3,351,976.32. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,237,981 shares of company stock worth $120,377,972. Insiders own 9.60% of the company’s stock.
Several research firms have weighed in on SYY. Jefferies Group LLC restated a “hold” rating and issued a $51.00 price objective on shares of Sysco Corporation in a research report on Friday, August 4th. Wells Fargo & Company restated a “buy” rating on shares of Sysco Corporation in a research report on Monday, August 14th. Zacks Investment Research cut shares of Sysco Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Pivotal Research set a $53.00 price target on shares of Sysco Corporation and gave the stock a “hold” rating in a research report on Sunday, August 13th. Finally, Royal Bank Of Canada set a $50.00 price target on shares of Sysco Corporation and gave the stock a “hold” rating in a research report on Friday, August 11th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $56.42.
Sysco Corporation (NYSE SYY) opened at $54.65 on Wednesday. Sysco Corporation has a one year low of $48.85 and a one year high of $57.23. The firm has a market cap of $28,642.46, a P/E ratio of 21.56, a P/E/G ratio of 2.47 and a beta of 0.53. The company has a debt-to-equity ratio of 3.77, a quick ratio of 0.88 and a current ratio of 1.40.
Sysco Corporation (NYSE:SYY) last released its quarterly earnings data on Monday, November 6th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.02. Sysco Corporation had a net margin of 2.12% and a return on equity of 58.47%. The business had revenue of $14.65 billion for the quarter, compared to analyst estimates of $14.43 billion. During the same quarter last year, the firm earned $0.67 EPS. Sysco Corporation’s quarterly revenue was up 4.9% compared to the same quarter last year. analysts forecast that Sysco Corporation will post 2.77 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, January 5th will be paid a $0.36 dividend. The ex-dividend date is Thursday, January 4th. This represents a $1.44 dividend on an annualized basis and a yield of 2.63%. This is a positive change from Sysco Corporation’s previous quarterly dividend of $0.33. Sysco Corporation’s payout ratio is presently 60.00%.
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Sysco Corporation 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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