Treasurer of the State of North Carolina increased its holdings in shares of SYSCO Co. (NYSE:SYY) by 1.7% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 305,933 shares of the company’s stock after purchasing an additional 5,220 shares during the period. Treasurer of the State of North Carolina owned 0.06% of SYSCO worth $21,636,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of SYY. Pinnacle Associates Ltd. lifted its position in shares of SYSCO by 7.9% in the 1st quarter. Pinnacle Associates Ltd. now owns 4,750 shares of the company’s stock worth $317,000 after acquiring an additional 346 shares during the period. Corient Capital Partners LLC bought a new stake in shares of SYSCO in the 1st quarter worth approximately $329,000. Evergreen Capital Management LLC lifted its position in shares of SYSCO by 7.2% in the 1st quarter. Evergreen Capital Management LLC now owns 4,887 shares of the company’s stock worth $326,000 after acquiring an additional 329 shares during the period. Rockefeller Capital Management L.P. lifted its position in shares of SYSCO by 353.8% in the 1st quarter. Rockefeller Capital Management L.P. now owns 37,953 shares of the company’s stock worth $2,533,000 after acquiring an additional 29,589 shares during the period. Finally, Ontario Teachers Pension Plan Board bought a new stake in shares of SYSCO in the 1st quarter worth approximately $3,871,000. Institutional investors and hedge funds own 78.15% of the company’s stock.
In related news, Director Hans-Joachim Koerber sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $73.35, for a total transaction of $733,500.00. Following the completion of the sale, the director now directly owns 52,872 shares of the company’s stock, valued at approximately $3,878,161.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Brian R. Todd sold 14,706 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $78.99, for a total value of $1,161,626.94. Following the sale, the senior vice president now directly owns 30,273 shares of the company’s stock, valued at $2,391,264.27. The disclosure for this sale can be found here. Insiders have sold a total of 78,509 shares of company stock valued at $6,104,093 in the last 90 days. 7.88% of the stock is owned by corporate insiders.
Shares of SYSCO stock traded down $0.46 during midday trading on Thursday, hitting $78.17. 1,699,991 shares of the company were exchanged, compared to its average volume of 2,969,405. The company has a debt-to-equity ratio of 3.25, a current ratio of 1.33 and a quick ratio of 0.81. The firm has a market cap of $40.75 billion, a P/E ratio of 22.02, a PEG ratio of 2.20 and a beta of 0.48. SYSCO Co. has a 52 week low of $59.44 and a 52 week high of $79.74. The firm has a 50 day simple moving average of $75.91 and a 200-day simple moving average of $71.86.
SYSCO (NYSE:SYY) last posted its earnings results on Monday, August 12th. The company reported $1.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.03. The business had revenue of $15.47 billion during the quarter, compared to the consensus estimate of $15.65 billion. SYSCO had a return on equity of 76.80% and a net margin of 2.79%. SYSCO’s revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the company earned $0.94 EPS. Equities research analysts expect that SYSCO Co. will post 3.81 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 4th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $1.56 annualized dividend and a dividend yield of 2.00%. SYSCO’s dividend payout ratio (DPR) is presently 43.94%.
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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