Linscomb & Williams Inc. decreased its position in shares of Sysco Corporation (NYSE:SYY) by 28.9% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,311 shares of the company’s stock after selling 2,563 shares during the quarter. Linscomb & Williams Inc.’s holdings in Sysco Corporation were worth $318,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. TrimTabs Asset Management LLC lifted its stake in Sysco Corporation by 88.7% in the 1st quarter. TrimTabs Asset Management LLC now owns 2,162 shares of the company’s stock worth $112,000 after purchasing an additional 1,016 shares in the last quarter. Arcadia Investment Management Corp MI lifted its stake in Sysco Corporation by 10.7% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 2,336 shares of the company’s stock worth $118,000 after purchasing an additional 225 shares in the last quarter. Acrospire Investment Management LLC lifted its stake in Sysco Corporation by 84.6% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,400 shares of the company’s stock worth $121,000 after purchasing an additional 1,100 shares in the last quarter. Manchester Capital Management LLC lifted its stake in Sysco Corporation by 13.4% in the 2nd quarter. Manchester Capital Management LLC now owns 2,538 shares of the company’s stock worth $128,000 after purchasing an additional 300 shares in the last quarter. Finally, Kistler Tiffany Companies LLC lifted its stake in Sysco Corporation by 0.4% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,915 shares of the company’s stock worth $147,000 after purchasing an additional 12 shares in the last quarter. Institutional investors own 80.65% of the company’s stock.
In other Sysco Corporation news, insider Paul T. Moskowitz sold 16,667 shares of Sysco Corporation stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $54.12, for a total transaction of $902,018.04. Following the transaction, the insider now directly owns 61,936 shares of the company’s stock, valued at $3,351,976.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Wayne Shurts sold 7,800 shares of Sysco Corporation stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $51.52, for a total transaction of $401,856.00. Following the transaction, the executive vice president now directly owns 58,776 shares in the company, valued at $3,028,139.52. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,087,981 shares of company stock worth $112,142,420. Insiders own 9.60% of the company’s stock.
Shares of Sysco Corporation (NYSE SYY) opened at 54.87 on Thursday. Sysco Corporation has a 12-month low of $47.15 and a 12-month high of $57.07. The company has a market capitalization of $28.96 billion, a P/E ratio of 26.38 and a beta of 0.52. The stock has a 50 day moving average of $53.76 and a 200-day moving average of $52.86.
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 Thomson Reuters’ consensus estimate of $0.71 by $0.01. The firm had revenue of $14.40 billion for the quarter, compared to the consensus estimate of $14.35 billion. Sysco Corporation had a net margin of 2.06% and a return on equity of 53.25%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the firm posted $0.64 earnings per share. Equities research analysts forecast that Sysco Corporation will post $2.76 EPS for the current year.
The firm also recently declared 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 2.41%. The ex-dividend date of this dividend is Thursday, October 5th. Sysco Corporation’s dividend payout ratio is currently 63.16%.
Several brokerages have commented on SYY. Wells Fargo & Company reiterated a “buy” rating on shares of Sysco Corporation in a research note on Monday, August 14th. Zacks Investment Research upgraded shares of Sysco Corporation from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Tuesday, October 10th. BMO Capital Markets set a $60.00 price target on shares of Sysco Corporation and gave the stock a “buy” rating in a research note on Thursday, August 3rd. BidaskClub cut shares of Sysco Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $61.00 price target on shares of Sysco Corporation in a research note on Monday, June 26th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $56.42.
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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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