Toronto Dominion Bank raised its stake in shares of SYSCO Co. (NYSE:SYY) by 24.8% in the first quarter, HoldingsChannel.com reports. The fund owned 259,850 shares of the company’s stock after acquiring an additional 51,578 shares during the period. Toronto Dominion Bank’s holdings in SYSCO were worth $15,577,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Centaurus Financial Inc. bought a new position in shares of SYSCO in the first quarter valued at about $129,000. Valeo Financial Advisors LLC raised its holdings in shares of SYSCO by 98.7% in the fourth quarter. Valeo Financial Advisors LLC now owns 2,267 shares of the company’s stock valued at $138,000 after buying an additional 1,126 shares during the last quarter. Bedel Financial Consulting Inc. bought a new position in shares of SYSCO in the first quarter valued at about $145,000. Centerpoint Advisors LLC bought a new position in shares of SYSCO in the first quarter valued at about $149,000. Finally, Johnson Financial Group Inc. raised its holdings in shares of SYSCO by 77.2% in the first quarter. Johnson Financial Group Inc. now owns 3,030 shares of the company’s stock valued at $182,000 after buying an additional 1,320 shares during the last quarter. 80.06% of the stock is owned by institutional investors.
SYSCO stock opened at $65.02 on Monday. The stock has a market cap of $33.87 billion, a PE ratio of 26.22, a P/E/G ratio of 2.08 and a beta of 0.55. SYSCO Co. has a 1 year low of $48.85 and a 1 year high of $65.40. The company has a debt-to-equity ratio of 3.76, a current ratio of 1.44 and a quick ratio of 0.90.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 27th. Stockholders of record on Friday, July 6th will be given a dividend of $0.36 per share. The ex-dividend date is Thursday, July 5th. This represents a $1.44 annualized dividend and a dividend yield of 2.21%. SYSCO’s payout ratio is currently 58.06%.
In other news, insider Paul T. Moskowitz sold 15,334 shares of the business’s stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $60.69, for a total transaction of $930,620.46. Following the completion of the transaction, the insider now directly owns 58,329 shares in the company, valued at approximately $3,539,987.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul T. Moskowitz sold 15,333 shares of the business’s stock in a transaction dated Monday, May 7th. The stock was sold at an average price of $64.00, for a total value of $981,312.00. Following the transaction, the insider now owns 58,328 shares of the company’s stock, valued at $3,732,992. The disclosure for this sale can be found here. Insiders have sold a total of 91,609 shares of company stock valued at $5,673,454 over the last 90 days. Corporate insiders own 9.60% of the company’s stock.
A number of research firms recently issued reports on SYY. Zacks Investment Research raised SYSCO from a “sell” rating to a “hold” rating in a report on Wednesday, May 9th. Pivotal Research set a $58.00 price target on SYSCO and gave the company a “hold” rating in a report on Tuesday, May 8th. Credit Suisse Group lifted their price target on SYSCO from $68.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, May 8th. Morgan Stanley reaffirmed a “hold” rating and issued a $61.00 price target (down from $64.00) on shares of SYSCO in a report on Tuesday, May 8th. Finally, Citigroup lifted their price target on SYSCO from $60.00 to $63.00 and gave the company a “neutral” rating in a report on Tuesday, March 27th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. SYSCO presently has an average rating of “Hold” and a consensus price target of $65.64.
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 in the United States, Canada, Bahamas, Mexico, Costa Rica, Panama, the United Kingdom, France, Sweden, Ireland, Belgium, Spain, and Luxembourg.
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