Ontario Teachers Pension Plan Board purchased a new position in shares of SYSCO Co. (NYSE:SYY) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 57,986 shares of the company’s stock, valued at approximately $3,871,000.
Other institutional investors have also modified their holdings of the company. Vanguard Group Inc lifted its position in SYSCO by 3.9% during the third quarter. Vanguard Group Inc now owns 41,599,601 shares of the company’s stock valued at $3,047,170,000 after buying an additional 1,549,255 shares during the period. Wedge Capital Management L L P NC raised its position in shares of SYSCO by 29.7% in the 4th quarter. Wedge Capital Management L L P NC now owns 161,998 shares of the company’s stock worth $10,151,000 after purchasing an additional 37,061 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of SYSCO by 12.9% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 13,103 shares of the company’s stock worth $821,000 after purchasing an additional 1,497 shares during the last quarter. Dupont Capital Management Corp raised its position in shares of SYSCO by 40.1% in the 4th quarter. Dupont Capital Management Corp now owns 6,078 shares of the company’s stock worth $381,000 after purchasing an additional 1,741 shares during the last quarter. Finally, Northwest Quadrant Wealth Management LLC raised its position in shares of SYSCO by 4.3% in the 4th quarter. Northwest Quadrant Wealth Management LLC now owns 5,225 shares of the company’s stock worth $325,000 after purchasing an additional 216 shares during the last quarter. 77.58% of the stock is currently owned by institutional investors.
Shares of SYSCO stock traded up $0.28 during trading hours on Friday, reaching $70.72. 2,486,988 shares of the stock traded hands, compared to its average volume of 2,771,775. The business’s 50 day moving average is $72.55. The company has a market capitalization of $36.40 billion, a price-to-earnings ratio of 22.52, a price-to-earnings-growth ratio of 2.03 and a beta of 0.55. SYSCO Co. has a one year low of $59.44 and a one year high of $75.98. 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 5th will be given a dividend of $0.39 per share. The ex-dividend date is Wednesday, July 3rd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.21%. SYSCO’s payout ratio is currently 49.68%.
Several research firms have recently issued reports on SYY. Zacks Investment Research lowered SYSCO from a “buy” rating to a “hold” rating in a research report on Friday, May 17th. ValuEngine upgraded SYSCO from a “hold” rating to a “buy” rating in a report on Wednesday, May 29th. Pivotal Research reiterated a “sell” rating and issued a $58.00 price objective (up from $54.00) on shares of SYSCO in a report on Tuesday, May 7th. Loop Capital lifted their price objective on SYSCO to $80.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Finally, Buckingham Research lifted their price objective on SYSCO from $82.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $74.21.
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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