AidennLair Capital Management LP Acquires Shares of 76,629 Sysco Corporation (SYY)

AidennLair Capital Management LP acquired a new stake in Sysco Corporation (NYSE:SYY) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 76,629 shares of the company’s stock, valued at approximately $3,857,000. Sysco Corporation comprises about 2.2% of AidennLair Capital Management LP’s portfolio, making the stock its 18th biggest holding.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Sysco Corporation by 1.6% during the second quarter. Vanguard Group Inc. now owns 38,501,911 shares of the company’s stock worth $1,937,801,000 after purchasing an additional 590,968 shares during the period. BlackRock Inc. lifted its holdings in shares of Sysco Corporation by 0.3% during the second quarter. BlackRock Inc. now owns 32,291,082 shares of the company’s stock worth $1,625,211,000 after purchasing an additional 83,464 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Sysco Corporation by 4.1% during the second quarter. Ameriprise Financial Inc. now owns 10,242,998 shares of the company’s stock worth $515,484,000 after purchasing an additional 405,191 shares during the period. FMR LLC lifted its holdings in shares of Sysco Corporation by 11.2% during the second quarter. FMR LLC now owns 5,286,933 shares of the company’s stock worth $266,092,000 after purchasing an additional 532,486 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of Sysco Corporation by 47.6% during the second quarter. American Century Companies Inc. now owns 5,054,930 shares of the company’s stock worth $254,415,000 after purchasing an additional 1,629,990 shares during the period. 79.92% of the stock is currently owned by institutional investors and hedge funds.

Shares of Sysco Corporation (NYSE:SYY) opened at 53.78 on Thursday. Sysco Corporation has a 52 week low of $47.15 and a 52 week high of $57.07. The stock has a market capitalization of $28.39 billion, a PE ratio of 25.86 and a beta of 0.52. The company’s 50 day moving average is $53.37 and its 200-day moving average is $52.76.

Sysco Corporation (NYSE:SYY) last announced its earnings results on Monday, August 14th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.01. The company had revenue of $14.40 billion during the quarter, compared to analyst estimates of $14.35 billion. Sysco Corporation had a net margin of 2.06% and a return on equity of 53.25%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.64 earnings per share. On average, equities analysts predict that Sysco Corporation will post $2.76 earnings per share for the current year.

The firm also recently announced 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 annualized dividend and a yield of 2.45%. Sysco Corporation’s dividend payout ratio (DPR) is 63.16%.

In related news, insider Wayne Shurts sold 15,600 shares of the business’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $50.87, for a total value of $793,572.00. Following the sale, the insider now owns 58,776 shares in the company, valued at $2,989,935.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William J. Delaney III sold 30,000 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $51.31, for a total transaction of $1,539,300.00. Following the completion of the sale, the chief executive officer now owns 406,725 shares in the company, valued at approximately $20,869,059.75. The disclosure for this sale can be found here. Insiders have sold 2,111,381 shares of company stock valued at $113,332,388 over the last 90 days. 8.81% of the stock is currently owned by company insiders.

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A number of equities analysts have recently commented on SYY shares. BidaskClub lowered shares of Sysco Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $57.00 price target on shares of Sysco Corporation in a research note on Friday, June 23rd. Wells Fargo & Company reaffirmed a “buy” rating on shares of Sysco Corporation in a research note on Friday, June 23rd. Bank of America Corporation reaffirmed a “buy” rating and issued a $61.00 price target on shares of Sysco Corporation in a research note on Monday, June 26th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $60.00 price target on shares of Sysco Corporation in a research note on Tuesday, June 27th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $56.42.

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

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