Meeder Asset Management Inc. raised its stake in shares of SYSCO Co. (NYSE:SYY) by 21.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,866 shares of the company’s stock after purchasing an additional 1,586 shares during the period. Meeder Asset Management Inc.’s holdings in SYSCO were worth $539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Exane Derivatives raised its position in 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 position in SYSCO by 27.6% during the third quarter. FDx Advisors Inc. now owns 35,396 shares of the company’s stock valued at $1,910,000 after purchasing an additional 7,652 shares during the period. Vident Investment Advisory LLC purchased a new stake in SYSCO during the third quarter valued at approximately $393,000. Chicago Partners Investment Group LLC raised its position in SYSCO by 637.5% during the third quarter. Chicago Partners Investment Group LLC now owns 5,900 shares of the company’s stock valued at $318,000 after purchasing an additional 5,100 shares during the period. Finally, Quantum Capital Management purchased a new stake in SYSCO during the third quarter valued at approximately $863,000. Institutional investors and hedge funds own 80.09% of the company’s stock.
In related news, CEO William J. Delaney III sold 150,000 shares of the stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $54.05, for a total value of $8,107,500.00. Following the transaction, the chief executive officer now owns 526,725 shares of the company’s stock, valued at $28,469,486.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Wayne Shurts sold 15,600 shares of the stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $56.66, for a total value of $883,896.00. Following the completion of the transaction, the insider now directly owns 56,985 shares in the company, valued at approximately $3,228,770.10. The disclosure for this sale can be found here. In the last three months, insiders sold 294,695 shares of company stock worth $16,866,723. 9.60% of the stock is owned by insiders.
SYSCO Co. (NYSE:SYY) opened at $58.33 on Friday. The company has a market capitalization of $30,390.00, a P/E ratio of 26.16, a PEG ratio of 2.06 and a beta of 0.56. SYSCO Co. has a 52 week low of $48.85 and a 52 week high of $64.27. The company has a debt-to-equity ratio of 3.66, a quick ratio of 0.88 and a current ratio of 1.38.
SYSCO (NYSE:SYY) last released its earnings results on Monday, February 5th. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. SYSCO had a return on equity of 61.02% and a net margin of 2.10%. The firm had revenue of $14.41 billion for the quarter, compared to analysts’ expectations of $14.15 billion. During the same quarter in the prior year, the firm posted $0.58 earnings per share. The company’s quarterly revenue was up 7.1% on a year-over-year basis. sell-side analysts forecast that SYSCO Co. will post 2.95 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Friday, January 5th were paid a $0.36 dividend. The ex-dividend date was Thursday, January 4th. This represents a $1.44 annualized dividend and a yield of 2.47%. This is a boost from SYSCO’s previous quarterly dividend of $0.33. SYSCO’s dividend payout ratio is 64.57%.
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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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