Cypress Wealth Advisors LLC reduced its stake in shares of Sysco Corporation (NYSE:SYY) by 1.6% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 5,679 shares of the company’s stock after selling 93 shares during the period. Cypress Wealth Advisors LLC’s holdings in Sysco Corporation were worth $295,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the stock. North Star Investment Management Corp. boosted 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 valued at $101,000 after buying an additional 871 shares during the last quarter. TrimTabs Asset Management LLC boosted its stake in Sysco Corporation by 88.7% in the first quarter. TrimTabs Asset Management LLC now owns 2,162 shares of the company’s stock valued at $112,000 after buying an additional 1,016 shares in the last quarter. Howe & Rusling Inc. boosted its stake in Sysco Corporation by 81.1% in the first quarter. Howe & Rusling Inc. now owns 2,595 shares of the company’s stock valued at $135,000 after buying an additional 1,162 shares in the last quarter. Kistler Tiffany Companies LLC boosted its stake in Sysco Corporation by 0.4% in the first quarter. Kistler Tiffany Companies LLC now owns 2,903 shares of the company’s stock valued at $151,000 after buying an additional 13 shares in the last quarter. Finally, Blue Chip Partners Inc. boosted its stake in Sysco Corporation by 0.6% in the first quarter. Blue Chip Partners Inc. now owns 2,949 shares of the company’s stock valued at $153,000 after buying an additional 19 shares in the last quarter. 78.49% of the stock is owned by institutional investors.
Sysco Corporation (NYSE:SYY) traded down 0.04% on Friday, hitting $51.17. The stock had a trading volume of 2,100,733 shares. The stock has a 50 day moving average price of $51.14 and a 200 day moving average price of $52.55. The company has a market cap of $27.12 billion, a P/E ratio of 24.60 and a beta of 0.52. Sysco Corporation has a 1-year low of $47.15 and a 1-year high of $57.07.
Sysco Corporation (NYSE:SYY) last posted its quarterly earnings results on Monday, August 14th. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.01. The company had revenue of $14.40 billion for the quarter, compared to the consensus estimate of $14.35 billion. Sysco Corporation had a return on equity of 53.25% and a net margin of 2.06%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.64 EPS. On average, equities research analysts expect that Sysco Corporation will post $2.76 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 6th will be given a $0.33 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.32 annualized dividend and a yield of 2.58%. Sysco Corporation’s dividend payout ratio (DPR) is presently 63.16%.
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Several equities research analysts recently commented on SYY shares. Jefferies Group LLC reaffirmed a “hold” rating and set a $51.00 target price on shares of Sysco Corporation in a research note on Friday, August 4th. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $57.00 target price on shares of Sysco Corporation in a research note on Friday, June 23rd. BMO Capital Markets reaffirmed a “buy” rating and set a $60.00 target price on shares of Sysco Corporation in a research note on Tuesday, June 27th. Zacks Investment Research raised Sysco Corporation from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a research note on Tuesday, May 9th. Finally, Royal Bank Of Canada raised their price objective on Sysco Corporation from $48.00 to $50.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 9th. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $56.02.
In related news, CEO William J. Delaney III sold 30,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 406,725 shares of the company’s stock, valued at approximately $22,593,573.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Wayne Shurts sold 15,600 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $55.32, for a total value of $862,992.00. Following the completion of the transaction, the insider now directly owns 58,776 shares in the company, valued at $3,251,488.32. The disclosure for this sale can be found here. Insiders sold a total of 122,400 shares of company stock worth $6,494,700 over the last ninety days. 8.81% of the stock is currently owned by insiders.
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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