OLD Republic International Corp continued to hold its stake in shares of Sysco Corporation (NYSE:SYY) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 627,400 shares of the company’s stock at the end of the first quarter. OLD Republic International Corp owned approximately 0.12% of Sysco Corporation worth $32,575,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. North Star Investment Management Corp. raised its stake in shares of Sysco Corporation by 81.2% in the first quarter. North Star Investment Management Corp. now owns 1,944 shares of the company’s stock worth $101,000 after buying an additional 871 shares in the last quarter. TrimTabs Asset Management LLC raised its stake in shares of Sysco Corporation by 88.7% in the first quarter. TrimTabs Asset Management LLC now owns 2,162 shares of the company’s stock worth $112,000 after buying an additional 1,016 shares in the last quarter. Howe & Rusling Inc. raised its stake in shares of Sysco Corporation by 81.1% in the first quarter. Howe & Rusling Inc. now owns 2,595 shares of the company’s stock worth $135,000 after buying an additional 1,162 shares in the last quarter. Kistler Tiffany Companies LLC raised its stake in shares of Sysco Corporation by 0.4% in the first quarter. Kistler Tiffany Companies LLC now owns 2,903 shares of the company’s stock worth $151,000 after buying an additional 13 shares in the last quarter. Finally, Blue Chip Partners Inc. raised its stake in shares of Sysco Corporation by 0.6% in the first quarter. Blue Chip Partners Inc. now owns 2,949 shares of the company’s stock worth $153,000 after buying an additional 19 shares in the last quarter. 78.38% of the stock is owned by hedge funds and other institutional investors.
Shares of Sysco Corporation (NYSE:SYY) traded up 0.81% on Friday, reaching $51.28. The company had a trading volume of 1,085,049 shares. Sysco Corporation has a 12 month low of $47.15 and a 12 month high of $57.07. The firm’s 50 day moving average is $50.96 and its 200 day moving average is $52.62. The firm has a market capitalization of $27.44 billion, a PE ratio of 27.03 and a beta of 0.52.
Sysco Corporation (NYSE:SYY) last announced its quarterly earnings data on Monday, May 8th. The company reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51. The business had revenue of $13.52 billion for the quarter, compared to analysts’ expectations of $13.14 billion. Sysco Corporation had a return on equity of 47.28% and a net margin of 1.93%. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period last year, the firm earned $0.46 earnings per share. On average, equities research analysts expect that Sysco Corporation will post $2.47 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 6th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Thursday, October 5th. Sysco Corporation’s payout ratio is currently 69.47%.
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A number of equities research analysts recently issued reports on SYY shares. Zacks Investment Research raised Sysco Corporation from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a research note on Tuesday, May 9th. Loop Capital started coverage on Sysco Corporation in a research note on Monday, May 15th. They set a “buy” rating and a $61.00 price target for the company. BMO Capital Markets reissued a “buy” rating and set a $60.00 price target on shares of Sysco Corporation in a research note on Tuesday, June 27th. Bank of America Corporation reaffirmed a “buy” rating and set a $61.00 target price on shares of Sysco Corporation in a research report on Monday, June 26th. Finally, Wells Fargo & Company reaffirmed a “buy” rating on shares of Sysco Corporation in a research report on Friday, June 23rd. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Sysco Corporation currently has an average rating of “Hold” and an average price target of $56.02.
In other Sysco Corporation news, CEO William J. Delaney III sold 30,000 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $55.55, for a total value of $1,666,500.00. Following the sale, the chief executive officer now directly owns 406,725 shares in the company, valued at $22,593,573.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Wayne Shurts sold 7,800 shares of the firm’s stock in a transaction on Monday, June 12th. The shares were sold at an average price of $55.30, for a total value of $431,340.00. Following the completion of the sale, the executive vice president now owns 58,776 shares in the company, valued at $3,250,312.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 152,400 shares of company stock worth $8,121,300. Insiders own 8.81% of the company’s stock.
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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