SSgA Funds Management, Inc. has recently announced that it has increased stake in Sysco Corp. (NYSE:SYY) by 4.57%. After grabbing 25.57 million shares, the institutional investor is now in possession of 1.12 million shares of the Consumer Defensive Company. The new investment brought the stake of investor firm to 5.07% having worth around $1.87 billion. Moreover, BlackRock Fund Advisors increased its share by 1.42 million to have a control over 24.44 million shares. And Geode Capital Management LLC raised its holdings to 0.16 million shares by acquiring 9.3 million shares or 1.84% of the stake.
Sysco Corp. (SYY) concluded trading on Wednesday at a closing price of $74.99, with 4.21 million shares of worth about $315.48 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -0.70% during that period and On Wednesday, January 24 the price saw a loss of about -0.70%. Currently the company’s common shares owned by public are about 505.11M shares, out of which, 503.43M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 63 times over the past 12 months. They bought 165,877 shares in 47 of the transactions. In 16 selling transactions, insiders dumped 27,410 shares.
Vanguard Total Stock Market ETF, Vanguard Wellington Fund, and Vanguard 500 Index Fund are the top 3 mutual funds which are holding stakes in Sysco Corp. Vanguard Total Stock Market ETF is currently holding 15.8 million shares of worth totaling $1.16 billion. The company recently came selling 76405.0 shares which brought its stake up to 3.13% of the company’s outstanding shares. Vanguard Wellington Fund sold -0.69 million shares, after which its hold over company’s outstanding shares shrunk to 2.73%, leaving 13.77 million shares with the mutual fund that have a worth of about $1.01 billion. Vanguard 500 Index Fund, after selling 12.31 million shares, have now control over 2.44% of the stake in the company. It holds 1936.0 shares of worth $900.23 million.
Stock saw a price change of 0.43% in past 5 days and over the past one month there was a price change of 1.99%. Year-to-date (YTD), SYY shares are showing a performance of 2.54% which decreased to -5.38% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $62.24 but also hit the highest price of $82.38 during that period. The average intraday trading volume for Sysco Corp. shares is 2.97 million. The stock is currently trading 0.34% above its 20-day simple moving average (SMA20), while that difference is up 2.58% for SMA50 and it goes to 4.48% higher than SMA200.
SSgA Funds Management, Inc. acquired 25.57 million shares of Sysco Corp. having value of about $1.87 billion. Data submitted at the U.S SEC by SSgA Funds Management, Inc. revealed that the firm now holds 1.12 million shares in the company valued at close to $83834695.55, or have control over 4.57% stake in the company. Sysco Corp. (NYSE: SYY) currently have 505.11M outstanding shares and institutions hold larger chunk of about 83.05% of that. Holding of mutual funds in the company is about 4.84% while other institutional holders and individual stake holders have control over 48.76% and 35.09% of the stake respectively.
The stock has a current market capitalization of $37.82B and its 3Y-monthly beta is at 1.17. PE ratio of stock for trailing 12 months is 21.09, while it has posted earnings per share of $3.56 in the same period. Its PEG reads 1.70 and has Quick Ratio of 0.74 while making debt-to-equity ratio of 5.50. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for SYY, volatility over the week remained 1.40% while standing at 1.26% over the month.
Analysts are in expectations that Sysco Corp. (SYY) stock would likely to be making an EPS of $0.88 in the current quarter, while forecast for next quarter EPS is $0.97 and it is $4.75 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.86 which is $0.97 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.8 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 7.69% while it is estimated to increase by 9.79% in next year. EPS is likely to grow at an annualized rate of 12.40% for next 5-years, compared to annual growth of 5.16% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Piper Sandler on November 21, 2023 offering a Neutral rating for the stock and assigned a target price of $73 to it.
