Eastern Bank Increases Stake in SYSCO Co. (SYY)
Eastern Bank grew its stake in shares of SYSCO Co. (NYSE:SYY) by 1.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 214,203 shares of the company’s stock after buying an additional 2,716 shares during the quarter. Eastern Bank’s holdings in SYSCO were worth $13,009,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Exane Derivatives raised its holdings in shares of SYSCO by 137.8% during the third quarter. Exane Derivatives now owns 48,699 shares of the company’s stock valued at $2,627,000 after purchasing an additional 28,217 shares during the period. FDx Advisors Inc. raised its holdings in shares of SYSCO by 27.6% in the 3rd quarter. FDx Advisors Inc. now owns 35,396 shares of the company’s stock worth $1,910,000 after acquiring an additional 7,652 shares during the last quarter. Vident Investment Advisory LLC acquired a new stake in shares of SYSCO in the 3rd quarter worth about $393,000. Chicago Partners Investment Group LLC raised its holdings in shares of SYSCO by 637.5% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 5,900 shares of the company’s stock worth $318,000 after acquiring an additional 5,100 shares during the last quarter. Finally, Stifel Financial Corp raised its holdings in shares of SYSCO by 21.8% in the 2nd quarter. Stifel Financial Corp now owns 1,093,476 shares of the company’s stock worth $55,001,000 after acquiring an additional 195,903 shares during the last quarter. Hedge funds and other institutional investors own 79.93% of the company’s stock.
In other SYSCO news, CEO William J. Delaney III sold 150,000 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $54.05, for a total value of $8,107,500.00. Following the completion of the sale, the chief executive officer now owns 526,725 shares in the company, valued at approximately $28,469,486.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Wayne Shurts sold 7,800 shares of the stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $54.86, for a total transaction of $427,908.00. Following the completion of the sale, the executive vice president now owns 58,776 shares of the company’s stock, valued at approximately $3,224,451.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 302,495 shares of company stock valued at $17,294,631. Company insiders own 9.60% of the company’s stock.
SYSCO Co. (NYSE SYY) traded up $0.99 during trading hours on Monday, reaching $63.21. 2,303,900 shares of the company’s stock traded hands, compared to its average volume of 2,511,223. The company has a debt-to-equity ratio of 3.77, a quick ratio of 0.88 and a current ratio of 1.40. The stock has a market cap of $33,030.00, a price-to-earnings ratio of 28.86, a price-to-earnings-growth ratio of 2.46 and a beta of 0.53. SYSCO Co. has a 52-week low of $48.85 and a 52-week high of $63.30.
SYSCO (NYSE:SYY) last posted its quarterly earnings data on Monday, November 6th. The company reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.02. The firm had revenue of $14.65 billion during the quarter, compared to analyst estimates of $14.43 billion. SYSCO had a net margin of 2.12% and a return on equity of 58.47%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted $0.67 EPS. analysts expect that SYSCO Co. will post 2.85 earnings per share for the current year.
The company also recently disclosed 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. This is a positive change from SYSCO’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $1.44 annualized dividend and a yield of 2.28%. SYSCO’s dividend payout ratio (DPR) is 65.75%.
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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