MetLife Investment Advisors LLC bought a new stake in SYSCO Co. (NYSE:SYY) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 148,321 shares of the company’s stock, valued at approximately $9,008,000.
Several other hedge funds have also modified their holdings of SYY. Advisors Asset Management Inc. increased its stake in SYSCO by 465.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,783 shares of the company’s stock worth $150,000 after buying an additional 2,291 shares during the period. Ameriprise Financial Inc. increased its stake in SYSCO by 2.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 10,451,813 shares of the company’s stock worth $563,890,000 after buying an additional 208,815 shares during the period. Thompson Siegel & Walmsley LLC increased its stake in SYSCO by 51.9% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 2,926 shares of the company’s stock worth $158,000 after buying an additional 1,000 shares during the period. Pacer Advisors Inc. increased its stake in SYSCO by 10.3% during the 3rd quarter. Pacer Advisors Inc. now owns 13,778 shares of the company’s stock worth $743,000 after buying an additional 1,287 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in SYSCO by 13.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 322,781 shares of the company’s stock worth $17,414,000 after buying an additional 37,742 shares during the period. 79.02% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Russell T. Libby sold 13,334 shares of SYSCO stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $60.69, for a total value of $809,240.46. Following the completion of the transaction, the insider now directly owns 64,394 shares of the company’s stock, valued at approximately $3,908,071.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard G. Tilghman sold 5,000 shares of SYSCO stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $59.80, for a total transaction of $299,000.00. Following the completion of the transaction, the director now directly owns 90,552 shares of the company’s stock, valued at $5,415,009.60. The disclosure for this sale can be found here. Insiders sold a total of 164,704 shares of company stock valued at $10,012,748 over the last ninety days. Company insiders own 9.60% of the company’s stock.
SYSCO (NYSE:SYY) last posted its quarterly earnings results on Monday, February 5th. The company reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. SYSCO had a net margin of 2.10% and a return on equity of 61.02%. The business had revenue of $14.41 billion during the quarter, compared to analyst estimates of $14.15 billion. During the same period in the previous year, the business posted $0.58 EPS. The company’s quarterly revenue was up 7.1% on a year-over-year basis. equities research analysts forecast that SYSCO Co. will post 2.95 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 27th. Stockholders of record on Friday, April 6th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Thursday, April 5th. SYSCO’s dividend payout ratio (DPR) is presently 64.29%.
Several equities research analysts recently issued reports on SYY shares. Pivotal Research lifted their price target on shares of SYSCO from $53.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Loop Capital boosted their target price on shares of SYSCO to $68.00 and gave the stock a “buy” rating in a research report on Monday, December 11th. BMO Capital Markets set a $66.00 target price on shares of SYSCO and gave the stock a “buy” rating in a research report on Friday, December 8th. Bank of America boosted their target price on shares of SYSCO from $68.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, February 6th. Finally, Morgan Stanley raised shares of SYSCO from an “underweight” rating to an “equal weight” rating and set a $64.00 target price for the company in a research report on Tuesday, January 16th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $65.20.
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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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