Other hedge funds have also recently modified their holdings of the company. Parkside Financial Bank & Trust raised its stake in shares of Sysco Corporation by 0.6% in the third quarter. Parkside Financial Bank & Trust now owns 2,324 shares of the company’s stock worth $114,000 after buying an additional 13 shares in the last quarter. Tuttle Tactical Management LLC bought a new position in Sysco Corporation during the second quarter worth $126,000. Crow Point Partners LLC bought a new position in Sysco Corporation during the third quarter worth $137,000. Kistler Tiffany Companies LLC raised its position in Sysco Corporation by 0.4% in the third quarter. Kistler Tiffany Companies LLC now owns 2,878 shares of the company’s stock worth $141,000 after buying an additional 12 shares during the period. Finally, Blue Chip Partners Inc. raised its position in Sysco Corporation by 0.7% in the second quarter. Blue Chip Partners Inc. now owns 2,894 shares of the company’s stock worth $147,000 after buying an additional 19 shares during the period. 77.50% of the stock is currently owned by hedge funds and other institutional investors.
OLD Republic International Corp continued to hold its stake in shares of Sysco Corporation (NYSE:SYY) during the third quarter, Holdings Channel reports. The fund owned 627,400 shares of the company’s stock at the end of the third quarter. OLD Republic International Corp’s holdings in Sysco Corporation were worth $21,533,000 at the end of the most recent quarter.
Sysco Corporation (NYSE:SYY) opened at 52.62 on Monday. The firm has a market capitalization of $28.43 billion, a P/E ratio of 28.69 and a beta of 0.52. The stock’s 50 day moving average price is $53.99 and its 200 day moving average price is $52.05. Sysco Corporation has a 12 month low of $42.05 and a 12 month high of $57.07.
Sysco Corporation (NYSE:SYY) last issued its earnings results on Monday, February 6th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.04. The firm earned $13.50 billion during the quarter, compared to analyst estimates of $13.53 billion. Sysco Corporation had a net margin of 1.94% and a return on equity of 40.85%. The company’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business earned $0.45 earnings per share. On average, analysts forecast that Sysco Corporation will post $2.48 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 27th. Stockholders of record on Friday, January 6th were given a $0.33 dividend. This is a positive change from Sysco Corporation’s previous quarterly dividend of $0.31. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend was Wednesday, January 4th. Sysco Corporation’s dividend payout ratio (DPR) is 71.74%.
SYY has been the topic of a number of recent research reports. Zacks Investment Research raised Sysco Corporation from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Thursday, December 1st. Bank of America Corporation upgraded Sysco Corporation from a “neutral” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Tuesday, November 8th. Wells Fargo & Company reiterated a “buy” rating on shares of Sysco Corporation in a report on Monday, February 6th. Barclays PLC upgraded Sysco Corporation from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $48.00 to $53.00 in a report on Wednesday, November 9th. They noted that the move was a valuation call. Finally, BMO Capital Markets set a $56.00 price objective on Sysco Corporation and gave the company a “hold” rating in a report on Wednesday, November 9th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $54.35.
In other news, insider Russell T. Libby sold 22,217 shares of the firm’s stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $54.91, for a total value of $1,219,935.47. Following the completion of the transaction, the insider now directly owns 80,017 shares in the company, valued at $4,393,733.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Greg D. Bertrand sold 7,382 shares of the firm’s stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $53.50, for a total transaction of $394,937.00. Following the completion of the transaction, the senior vice president now owns 38,272 shares of the company’s stock, valued at $2,047,552. The disclosure for this sale can be found here. Insiders sold 191,206 shares of company stock valued at $10,341,879 over the last 90 days. 8.81% of the stock is owned by company 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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