Dividend Assets Capital LLC increased its position in shares of Sysco Corporation (NYSE:SYY) by 65.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,575 shares of the company’s stock after purchasing an additional 4,570 shares during the period. Dividend Assets Capital LLC’s holdings in Sysco Corporation were worth $624,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in the stock. First Personal Financial Services raised its holdings in Sysco Corporation 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 acquiring an additional 1,463 shares in the last quarter. Arcadia Investment Management Corp MI raised its holdings 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 valued at $118,000 after acquiring an additional 225 shares in the last quarter. Acrospire Investment Management LLC raised its holdings in Sysco Corporation 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 acquiring an additional 1,100 shares in the last quarter. Manchester Capital Management LLC raised its holdings in Sysco Corporation by 13.4% in the 2nd quarter. Manchester Capital Management LLC now owns 2,538 shares of the company’s stock valued at $128,000 after acquiring an additional 300 shares in the last quarter. Finally, Kistler Tiffany Companies LLC raised its holdings in Sysco Corporation by 0.4% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,915 shares of the company’s stock valued at $147,000 after acquiring an additional 12 shares in the last quarter. 80.30% of the stock is owned by institutional investors and hedge funds.
SYY has been the subject of several analyst reports. Royal Bank Of Canada set a $50.00 price objective on Sysco Corporation and gave the company a “hold” rating in a report on Friday, August 11th. Zacks Investment Research raised Sysco Corporation from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Friday, July 21st. Wells Fargo & Company reaffirmed a “buy” rating on shares of Sysco Corporation in a report on Monday, August 14th. Pivotal Research reissued a “hold” rating and set a $53.00 price target on shares of Sysco Corporation in a report on Sunday, November 5th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Sysco Corporation in a report on Tuesday, September 12th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $56.42.
In other Sysco Corporation news, CEO William J. Delaney III sold 30,000 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $51.31, for a total value of $1,539,300.00. Following the sale, the chief executive officer now owns 406,725 shares in the company, valued at approximately $20,869,059.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Wayne Shurts sold 7,800 shares of the company’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $54.86, for a total value of $427,908.00. Following the completion of the sale, the executive vice president now owns 58,776 shares in the company, valued at approximately $3,224,451.36. The disclosure for this sale can be found here. Insiders sold a total of 2,125,781 shares of company stock worth $114,211,628 in the last quarter. Corporate insiders own 9.60% of the company’s stock.
Shares of Sysco Corporation (SYY) traded up $0.27 during mid-day trading on Tuesday, reaching $54.29. The company had a trading volume of 182,984 shares, compared to its average volume of 2,931,274. Sysco Corporation has a twelve month low of $48.85 and a twelve month high of $57.23. The company has a market cap of $28,150.00, a price-to-earnings ratio of 21.25, a P/E/G ratio of 2.51 and a beta of 0.53. The company has a debt-to-equity ratio of 3.77, a current ratio of 1.40 and a quick ratio of 0.88.
Sysco Corporation (NYSE:SYY) last released its quarterly earnings results on Monday, November 6th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.02. Sysco Corporation had a return on equity of 58.47% and a net margin of 2.12%. The firm had revenue of $14.65 billion for the quarter, compared to analyst estimates of $14.43 billion. During the same quarter in the previous year, the company posted $0.67 EPS. The business’s revenue was up 4.9% on a year-over-year basis. sell-side analysts anticipate that Sysco Corporation will post 2.77 earnings per share for the current fiscal year.
Sysco Corporation 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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