Trillium Asset Management LLC Has $5.61 Million Stake in SYSCO Co. (SYY)
Trillium Asset Management LLC reduced its holdings in shares of SYSCO Co. (NYSE:SYY) by 0.9% in the 1st quarter, HoldingsChannel reports. The fund owned 84,012 shares of the company’s stock after selling 741 shares during the quarter. Trillium Asset Management LLC’s holdings in SYSCO were worth $5,609,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in SYY. Vanguard Group Inc lifted its holdings in shares of SYSCO by 3.9% in the 3rd quarter. Vanguard Group Inc now owns 41,599,601 shares of the company’s stock valued at $3,047,170,000 after purchasing an additional 1,549,255 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of SYSCO by 4.7% in the 4th quarter. BlackRock Inc. now owns 33,625,346 shares of the company’s stock valued at $2,106,966,000 after purchasing an additional 1,502,847 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of SYSCO by 18,997.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 9,960,810 shares of the company’s stock valued at $159,000 after purchasing an additional 9,908,653 shares during the last quarter. Parnassus Investments CA lifted its holdings in shares of SYSCO by 4.7% in the 1st quarter. Parnassus Investments CA now owns 8,752,593 shares of the company’s stock valued at $584,323,000 after purchasing an additional 393,096 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of SYSCO by 8.7% in the 1st quarter. Janus Henderson Group PLC now owns 7,948,553 shares of the company’s stock valued at $530,645,000 after purchasing an additional 633,041 shares during the last quarter. 80.61% of the stock is owned by institutional investors and hedge funds.
SYY traded up $0.98 on Thursday, hitting $74.88. 49,604 shares of the company traded hands, compared to its average volume of 2,899,090. The company has a quick ratio of 0.79, a current ratio of 1.30 and a debt-to-equity ratio of 3.44. The company has a market cap of $37.71 billion, a PE ratio of 23.85, a P/E/G ratio of 2.11 and a beta of 0.55. SYSCO Co. has a 12-month low of $59.44 and a 12-month high of $75.98.
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 5th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend was Thursday, April 4th. SYSCO’s dividend payout ratio is presently 49.68%.
In other SYSCO news, Director Trian Fund Management, L.P. sold 707,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $66.30, for a total transaction of $46,874,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 7.88% of the stock is owned by corporate insiders.
Several research firms have recently weighed in on SYY. Zacks Investment Research raised SYSCO from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a report on Tuesday, May 7th. Loop Capital boosted their target price on SYSCO to $80.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Pivotal Research reissued a “sell” rating and issued a $58.00 target price (up from $54.00) on shares of SYSCO in a report on Tuesday, May 7th. Bank of America downgraded SYSCO from a “buy” rating to a “neutral” rating and set a $68.00 target price for the company. in a report on Wednesday, January 16th. Finally, Morgan Stanley upped their price objective on SYSCO from $69.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $74.46.
Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.
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