Zeke Capital Advisors LLC bought a new stake in Sysco Corporation (NYSE:SYY) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 4,312 shares of the company’s stock, valued at approximately $233,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. First Personal Financial Services grew its position in shares of Sysco by 293.2% in the 3rd quarter. First Personal Financial Services now owns 1,962 shares of the company’s stock valued at $106,000 after buying an additional 1,463 shares during the last quarter. Arcadia Investment Management Corp MI grew its position in shares of Sysco by 10.7% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 2,336 shares of the company’s stock valued at $118,000 after buying an additional 225 shares during the last quarter. Acrospire Investment Management LLC grew its position in shares of Sysco by 84.6% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,400 shares of the company’s stock valued at $121,000 after buying an additional 1,100 shares during the last quarter. Manchester Capital Management LLC grew its position in Sysco by 13.4% during 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 during the last quarter. Finally, Kistler Tiffany Companies LLC grew its position in Sysco by 0.4% during 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 during the last quarter. 80.22% of the stock is currently owned by hedge funds and other institutional investors.
Sysco Corporation (NYSE SYY) traded up $0.05 during mid-day trading on Monday, hitting $57.78. 2,178,900 shares of the stock traded hands, compared to its average volume of 2,888,031. Sysco Corporation has a one year low of $48.85 and a one year high of $58.67. The firm has a market cap of $30,106.63, a PE ratio of 22.66, a PEG ratio of 2.59 and a beta of 0.54. The company has a debt-to-equity ratio of 3.77, a current ratio of 1.40 and a quick ratio of 0.88.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Friday, January 5th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend is Thursday, January 4th. This is a boost from Sysco’s previous quarterly dividend of $0.33. Sysco’s dividend payout ratio (DPR) is 60.00%.
In other news, Director Trian Fund Management, L.P. sold 372,314 shares of the firm’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $53.09, for a total value of $19,766,150.26. Following the completion of the sale, the director now owns 5,529 shares in the company, valued at approximately $293,534.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Wayne Shurts sold 15,600 shares of the firm’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $56.66, for a total transaction of $883,896.00. Following the completion of the sale, the insider now owns 56,985 shares of the company’s stock, valued at approximately $3,228,770.10. The disclosure for this sale can be found here. Insiders sold a total of 2,237,981 shares of company stock valued at $120,454,412 in the last 90 days. Company insiders own 9.60% of the company’s stock.
Several research analysts have issued reports on the stock. Pivotal Research reissued a “hold” rating and set a $53.00 price objective on shares of Sysco in a research report on Sunday, November 5th. Zacks Investment Research downgraded shares of Sysco from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. BMO Capital Markets reissued an “outperform” rating on shares of Sysco in a research report on Tuesday, September 12th. Royal Bank Of Canada set a $50.00 price objective on shares of Sysco and gave the stock a “hold” rating in a research report on Friday, August 11th. Finally, Wells Fargo & Company reissued a “buy” rating on shares of Sysco in a research report on Monday, August 14th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $56.42.
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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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