Skandinaviska Enskilda Banken AB publ Sells 7,830 Shares of Sysco Corporation (SYY)
Skandinaviska Enskilda Banken AB publ cut its position in Sysco Corporation (NYSE:SYY) by 7.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 90,938 shares of the company’s stock after selling 7,830 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Sysco Corporation were worth $4,722,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in SYY. Stonebridge Capital Advisors LLC boosted its position in shares of Sysco Corporation by 0.6% in the first quarter. Stonebridge Capital Advisors LLC now owns 31,292 shares of the company’s stock worth $1,625,000 after buying an additional 195 shares in the last quarter. Achmea Investment Management B.V. bought a new position in shares of Sysco Corporation during the first quarter worth approximately $6,510,000. Bank of Nova Scotia boosted its position in shares of Sysco Corporation by 886.1% in the first quarter. Bank of Nova Scotia now owns 114,228 shares of the company’s stock worth $5,930,000 after buying an additional 102,644 shares in the last quarter. Summit Global Investments boosted its position in shares of Sysco Corporation by 8.7% in the first quarter. Summit Global Investments now owns 114,738 shares of the company’s stock worth $5,957,000 after buying an additional 9,157 shares in the last quarter. Finally, OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in shares of Sysco Corporation by 15.4% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 10,267 shares of the company’s stock worth $533,000 after buying an additional 1,367 shares in the last quarter. 78.38% of the stock is currently owned by institutional investors.
Sysco Corporation (NYSE SYY) traded up 1.40% during midday trading on Friday, reaching $51.58. The company’s stock had a trading volume of 3,803,719 shares. The stock’s 50 day moving average price is $50.93 and its 200-day moving average price is $52.61. The stock has a market cap of $27.61 billion, a price-to-earnings ratio of 27.19 and a beta of 0.52. Sysco Corporation has a one year low of $47.15 and a one year high of $57.07.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 6th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend is Thursday, October 5th. Sysco Corporation’s payout ratio is currently 69.47%.
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A number of equities analysts recently commented on the company. Royal Bank Of Canada set a $50.00 target price on Sysco Corporation and gave the stock a “hold” rating in a report on Friday. Jefferies Group LLC reaffirmed a “hold” rating and issued a $51.00 target price on shares of Sysco Corporation in a report on Friday, August 4th. BMO Capital Markets set a $60.00 target price on Sysco Corporation and gave the stock a “buy” rating in a report on Thursday, August 3rd. Zacks Investment Research raised Sysco Corporation from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Friday, July 21st. Finally, Wells Fargo & Company reaffirmed a “buy” rating on shares of Sysco Corporation in a report on Monday, July 17th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $56.02.
In other news, CEO William J. Delaney III sold 30,000 shares of the stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $55.55, for a total transaction of $1,666,500.00. Following the sale, the chief executive officer now directly owns 406,725 shares of the company’s stock, valued at approximately $22,593,573.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Wayne Shurts sold 7,800 shares of the stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $50.82, for a total transaction of $396,396.00. Following the sale, the executive vice president now directly owns 58,776 shares in the company, valued at $2,986,996.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 152,400 shares of company stock worth $8,121,300. Corporate insiders own 8.81% of the company’s stock.
Sysco Corporation Company Profile
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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