HM Payson & Co. decreased its holdings in shares of Sysco Corporation (NYSE:SYY) by 4.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,289 shares of the company’s stock after selling 1,895 shares during the quarter. HM Payson & Co.’s holdings in Sysco Corporation were worth $1,877,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Kistler Tiffany Companies LLC raised its stake in Sysco Corporation by 0.4% during the second quarter. Kistler Tiffany Companies LLC now owns 2,915 shares of the company’s stock worth $147,000 after acquiring an additional 12 shares in the last quarter. Buckingham Asset Management LLC raised its stake in Sysco Corporation by 0.3% during the first quarter. Buckingham Asset Management LLC now owns 5,904 shares of the company’s stock worth $307,000 after acquiring an additional 16 shares in the last quarter. Schnieders Capital Management LLC raised its stake in Sysco Corporation by 0.4% during the second quarter. Schnieders Capital Management LLC now owns 4,070 shares of the company’s stock worth $205,000 after acquiring an additional 18 shares in the last quarter. Blue Chip Partners Inc. raised its stake in Sysco Corporation by 0.6% during the first quarter. Blue Chip Partners Inc. now owns 2,949 shares of the company’s stock worth $153,000 after acquiring an additional 19 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in Sysco Corporation by 1.2% during the first quarter. Sequoia Financial Advisors LLC now owns 4,198 shares of the company’s stock worth $218,000 after acquiring an additional 50 shares in the last quarter. 79.97% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Wayne Shurts sold 15,600 shares of the firm’s stock in a transaction dated 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 approximately $2,989,935.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William J. Delaney III sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $49.92, for a total value of $1,497,600.00. Following the transaction, the chief executive officer now directly owns 406,725 shares in the company, valued at $20,303,712. The disclosure for this sale can be found here. Over the last three months, insiders have sold 136,800 shares of company stock worth $7,102,680. 8.81% of the stock is currently owned by insiders.
Shares of Sysco Corporation (SYY) opened at 53.29 on Tuesday. The company has a market capitalization of $28.25 billion, a PE ratio of 25.62 and a beta of 0.52. The stock’s 50 day moving average price is $52.06 and its 200 day moving average price is $52.54. Sysco Corporation has a 12-month low of $47.15 and a 12-month high of $57.07.
Sysco Corporation (NYSE:SYY) last announced its quarterly earnings data on Monday, August 14th. The company reported $0.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.01. The company had revenue of $14.40 billion for the quarter, compared to analysts’ expectations of $14.35 billion. Sysco Corporation had a return on equity of 53.25% and a net margin of 2.06%. Sysco Corporation’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the firm posted $0.64 EPS. On average, equities research analysts forecast that Sysco Corporation will post $2.76 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 6th will be issued 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 dividend yield of 2.48%. Sysco Corporation’s dividend payout ratio is 63.16%.
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Several research analysts have commented on SYY shares. Loop Capital started coverage on Sysco Corporation in a research note on Monday, May 15th. They set a “buy” rating and a $61.00 target price for the company. BidaskClub downgraded Sysco Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. J P Morgan Chase & Co reissued an “overweight” rating and set a $57.00 target price on shares of Sysco Corporation in a research note on Friday, June 23rd. Wells Fargo & Company reissued a “buy” rating on shares of Sysco Corporation in a research note on Friday, June 23rd. Finally, Bank of America Corporation reissued a “buy” rating and set a $61.00 target price on shares of Sysco Corporation in a research note on Monday, June 26th. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Sysco Corporation has a consensus rating of “Hold” and a consensus price target of $55.71.
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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