27,700 Shares in Sysco Corporation (SYY) Purchased by KDI Capital Partners LLC

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.

TRADEMARK VIOLATION WARNING: “27,700 Shares in Sysco Corporation (SYY) Purchased by KDI Capital Partners LLC” was originally posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this piece on another publication, it was illegally copied and republished in violation of U.S. and international trademark & copyright law. The legal version of this piece can be viewed at https://sportsperspectives.com/2017/09/12/27700-shares-in-sysco-corporation-syy-purchased-by-kdi-capital-partners-llc.html.

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.

Institutional Ownership by Quarter for Sysco Corporation (NYSE:SYY)

Receive News & Ratings for Sysco Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sysco Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply