KDI Capital Partners LLC acquired a new position in Sysco Corporation (NYSE:SYY) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 27,700 shares of the company’s stock, valued at approximately $1,394,000.
Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Sysco Corporation by 2.9% in the first quarter. Vanguard Group Inc. now owns 37,910,943 shares of the company’s stock worth $1,968,336,000 after buying an additional 1,064,162 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Sysco Corporation by 2,088.2% in the first quarter. BlackRock Inc. now owns 32,207,618 shares of the company’s stock worth $1,672,219,000 after buying an additional 30,735,711 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Sysco Corporation by 1.2% in the first quarter. Ameriprise Financial Inc. now owns 9,837,807 shares of the company’s stock worth $510,776,000 after buying an additional 118,939 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Sysco Corporation by 6.1% in the first quarter. Bank of New York Mellon Corp now owns 6,688,003 shares of the company’s stock worth $347,241,000 after buying an additional 385,492 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Sysco Corporation by 18.3% in the first quarter. Bank of America Corp DE now owns 4,745,874 shares of the company’s stock worth $246,405,000 after buying an additional 733,433 shares during the last quarter. Institutional investors and hedge funds own 79.97% of the company’s stock.
A number of analysts have recently weighed in on the stock. Wells Fargo & Company restated a “buy” rating on shares of Sysco Corporation in a research note on Monday, August 14th. Zacks Investment Research cut shares of Sysco Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. BMO Capital Markets set a $60.00 price objective on shares of Sysco Corporation and gave the stock a “buy” rating in a research note on Thursday, August 3rd. BidaskClub cut shares of Sysco Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. Finally, Loop Capital assumed coverage on shares of Sysco Corporation in a research note on Monday, May 15th. They issued a “buy” rating and a $61.00 price objective for the company. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $55.71.
In other Sysco Corporation news, CEO William J. Delaney III sold 30,000 shares of Sysco Corporation stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 406,725 shares of the company’s stock, valued at $22,593,573.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Wayne Shurts sold 15,600 shares of Sysco Corporation stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $50.87, for a total transaction of $793,572.00. Following the transaction, the insider now directly owns 58,776 shares of the company’s stock, valued at $2,989,935.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 136,800 shares of company stock valued at $7,102,680. Company insiders own 8.81% of the company’s stock.
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Sysco Corporation (SYY) opened at 53.29 on Tuesday. The firm has a market capitalization of $28.25 billion, a PE ratio of 25.62 and a beta of 0.52. The company’s 50-day moving average is $52.06 and its 200 day moving average is $52.54. Sysco Corporation has a 1-year low of $47.15 and a 1-year high of $57.07.
Sysco Corporation (NYSE:SYY) last released its quarterly earnings data on Monday, August 14th. The company reported $0.72 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.01. Sysco Corporation had a net margin of 2.06% and a return on equity of 53.25%. The firm had revenue of $14.40 billion during the quarter, compared to analysts’ expectations of $14.35 billion. During the same period in the previous year, the business posted $0.64 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, equities analysts expect that Sysco Corporation will post $2.76 EPS for the current fiscal year.
The business also recently disclosed 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. 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 2.48%. Sysco Corporation’s dividend payout ratio (DPR) is 63.16%.
About Sysco Corporation
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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