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.
TRADEMARK VIOLATION NOTICE: This news story was originally published by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this news story on another domain, it was stolen and republished in violation of US & international trademark and copyright laws. The correct version of this news story can be accessed at https://sportsperspectives.com/2017/10/12/aidennlair-capital-management-lp-acquires-shares-of-76629-sysco-corporation-syy.html.
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.
Want to see what other hedge funds are holding SYY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades 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.