Somerville Kurt F reduced its position in shares of Sysco Corporation (NYSE:SYY) by 4.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,675 shares of the company’s stock after selling 500 shares during the period. Somerville Kurt F’s holdings in Sysco Corporation were worth $487,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. North Star Investment Management Corp. raised its position in Sysco Corporation by 81.2% in the first quarter. North Star Investment Management Corp. now owns 1,944 shares of the company’s stock worth $101,000 after buying an additional 871 shares during the period. TrimTabs Asset Management LLC raised its position in Sysco Corporation by 88.7% in the first quarter. TrimTabs Asset Management LLC now owns 2,162 shares of the company’s stock worth $112,000 after buying an additional 1,016 shares during the period. Howe & Rusling Inc. raised its position in Sysco Corporation by 81.1% in the first quarter. Howe & Rusling Inc. now owns 2,595 shares of the company’s stock worth $135,000 after buying an additional 1,162 shares during the period. Kistler Tiffany Companies LLC raised its position in Sysco Corporation by 0.4% in the first quarter. Kistler Tiffany Companies LLC now owns 2,903 shares of the company’s stock worth $151,000 after buying an additional 13 shares during the period. Finally, Blue Chip Partners Inc. raised its position in Sysco Corporation by 0.6% in the first quarter. Blue Chip Partners Inc. now owns 2,949 shares of the company’s stock worth $153,000 after buying an additional 19 shares during the period. 78.49% of the stock is owned by hedge funds and other institutional investors.
Sysco Corporation (NYSE SYY) traded up 0.53% during mid-day trading on Thursday, hitting $51.46. The company had a trading volume of 1,949,440 shares. Sysco Corporation has a 52-week low of $47.15 and a 52-week high of $57.07. The company has a market capitalization of $27.28 billion, a P/E ratio of 24.74 and a beta of 0.52. The company has a 50-day moving average price of $51.06 and a 200 day moving average price of $52.57.
Sysco Corporation (NYSE:SYY) last released its quarterly earnings results on Monday, August 14th. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.71 by $0.01. The company had revenue of $14.40 billion for the quarter, compared to analyst estimates of $14.35 billion. Sysco Corporation had a return on equity of 53.25% and a net margin of 2.06%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 earnings per share. On average, analysts forecast that Sysco Corporation will post $2.76 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 6th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Thursday, October 5th. Sysco Corporation’s dividend payout ratio (DPR) is 63.16%.
Several research firms have commented on SYY. Zacks Investment Research raised shares of Sysco Corporation from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a research note on Tuesday, May 9th. Loop Capital began coverage on shares of Sysco Corporation in a research note on Monday, May 15th. They set a “buy” rating and a $61.00 price objective for the company. BMO Capital Markets reaffirmed a “buy” rating and set a $60.00 price objective on shares of Sysco Corporation in a research note on Tuesday, June 27th. Bank of America Corporation reaffirmed a “buy” rating and set a $61.00 price objective on shares of Sysco Corporation in a research note on Monday, June 26th. Finally, Wells Fargo & Company reaffirmed a “buy” rating on shares of Sysco Corporation in a research note on Friday, June 23rd. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $56.02.
In other Sysco Corporation news, CEO William J. Delaney III sold 30,000 shares of Sysco Corporation stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $49.92, for a total transaction of $1,497,600.00. Following the transaction, the chief executive officer now owns 406,725 shares of the company’s stock, valued at $20,303,712. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Wayne Shurts sold 15,600 shares of Sysco Corporation stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $50.87, for a total value of $793,572.00. Following the transaction, the insider now directly owns 58,776 shares in the company, valued at approximately $2,989,935.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 122,400 shares of company stock worth $6,494,700. 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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