Dynamic Capital Management Ltd reduced its position in shares of Sysco Corporation (NYSE:SYY) by 79.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,771 shares of the company’s stock after selling 159,403 shares during the period. Dynamic Capital Management Ltd’s holdings in Sysco Corporation were worth $2,117,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Sysco Corporation by 27.8% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 36,866 shares of the company’s stock valued at $1,914,000 after buying an additional 8,021 shares during the last quarter. Citizens Financial Group Inc. RI boosted its position in Sysco Corporation by 1,233.5% in the first quarter. Citizens Financial Group Inc. RI now owns 157,557 shares of the company’s stock worth $8,181,000 after buying an additional 145,742 shares during the period. Commerzbank Aktiengesellschaft FI boosted its position in Sysco Corporation by 402.9% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 103,770 shares of the company’s stock worth $5,388,000 after buying an additional 83,136 shares during the period. Suntrust Banks Inc. boosted its position in Sysco Corporation by 2.6% in the first quarter. Suntrust Banks Inc. now owns 242,423 shares of the company’s stock worth $12,585,000 after buying an additional 6,218 shares during the period. Finally, Northern Capital Management LLC bought a new position in shares of Sysco Corporation during the first quarter valued at $728,000. 78.38% of the stock is currently owned by institutional investors.
Sysco Corporation (NYSE:SYY) traded up 1.40% during midday trading on Friday, hitting $51.58. 3,803,719 shares of the stock traded hands. The stock has a market capitalization of $27.61 billion, a P/E ratio of 27.19 and a beta of 0.52. The stock’s 50-day moving average price is $50.93 and its 200-day moving average price is $52.61. Sysco Corporation has a 52 week low of $47.15 and a 52 week high of $57.07.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 6th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.32 dividend on an annualized basis and a yield of 2.56%. Sysco Corporation’s dividend payout ratio (DPR) is currently 69.47%.
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Several equities research analysts recently issued reports on the stock. Pivotal Research reiterated a “hold” rating and issued a $53.00 target price on shares of Sysco Corporation in a research note on Sunday. Royal Bank Of Canada set a $50.00 price objective on shares of Sysco Corporation and gave the stock a “hold” rating in a research report on Friday. Jefferies Group LLC restated a “hold” rating and set a $51.00 price objective on shares of Sysco Corporation in a research report on Friday, August 4th. BMO Capital Markets set a $60.00 price objective on shares of Sysco Corporation and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Finally, Zacks Investment Research upgraded shares of Sysco Corporation from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Friday, July 21st. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Sysco Corporation presently has an average rating of “Hold” and an average target price of $56.02.
In other Sysco Corporation news, insider Wayne Shurts sold 15,600 shares of Sysco Corporation stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $50.87, for a total value of $793,572.00. Following the completion of the transaction, the insider now directly owns 58,776 shares of the company’s stock, valued at $2,989,935.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William J. Delaney III sold 30,000 shares of Sysco Corporation stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $54.22, for a total transaction of $1,626,600.00. Following the completion of the transaction, the chief executive officer now directly owns 406,725 shares of the company’s stock, valued at $22,052,629.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 152,400 shares of company stock valued at $8,121,300. 8.81% of the stock is currently owned by corporate insiders.
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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