Public Employees Retirement Association of Colorado cut its stake in Sysco Corp. (NYSE:SYY) by 13.0% during the second quarter, Holdings Channel reports. The institutional investor owned 113,778 shares of the company’s stock after selling 17,010 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Sysco Corp. were worth $5,773,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of SYY. Kistler Tiffany Companies LLC increased its position in Sysco Corp. by 0.5% in the second quarter. Kistler Tiffany Companies LLC now owns 2,866 shares of the company’s stock worth $145,000 after buying an additional 13 shares during the last quarter. Prospera Financial Services Inc increased its position in Sysco Corp. by 1.4% in the second quarter. Prospera Financial Services Inc now owns 11,087 shares of the company’s stock worth $563,000 after buying an additional 151 shares during the last quarter. Gateway Investment Advisers LLC increased its position in Sysco Corp. by 0.4% in the second quarter. Gateway Investment Advisers LLC now owns 42,769 shares of the company’s stock worth $2,170,000 after buying an additional 167 shares during the last quarter. Cypress Wealth Advisors LLC increased its position in Sysco Corp. by 3.7% in the first quarter. Cypress Wealth Advisors LLC now owns 5,627 shares of the company’s stock worth $263,000 after buying an additional 199 shares during the last quarter. Finally, Mariner Wealth Advisors LLC increased its position in Sysco Corp. by 2.6% in the first quarter. Mariner Wealth Advisors LLC now owns 8,749 shares of the company’s stock worth $409,000 after buying an additional 220 shares during the last quarter. Institutional investors own 77.24% of the company’s stock.
Shares of Sysco Corp. (NYSE:SYY) traded up 0.02% during midday trading on Tuesday, hitting $48.27. 2,058,844 shares of the stock traded hands. The firm’s 50-day moving average is $49.70 and its 200 day moving average is $49.75. Sysco Corp. has a 52 week low of $38.84 and a 52 week high of $53.97. The company has a market capitalization of $26.80 billion, a price-to-earnings ratio of 29.43 and a beta of 0.52.
Sysco Corp. (NYSE:SYY) last released its quarterly earnings results on Monday, August 15th. The company reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.03. Sysco Corp. had a net margin of 1.89% and a return on equity of 28.67%. The business had revenue of $13.65 billion for the quarter, compared to the consensus estimate of $13.68 billion. During the same period in the prior year, the company posted $0.52 earnings per share. Sysco Corp.’s revenue was up 10.0% compared to the same quarter last year. Equities analysts forecast that Sysco Corp. will post $2.31 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 7th will be paid a $0.31 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $1.24 annualized dividend and a dividend yield of 2.57%. Sysco Corp.’s dividend payout ratio (DPR) is presently 75.15%.
A number of equities analysts have recently commented on SYY shares. Morgan Stanley reaffirmed a “sell” rating on shares of Sysco Corp. in a report on Monday, June 20th. Vetr downgraded shares of Sysco Corp. from a “hold” rating to a “sell” rating and set a $50.83 price objective for the company. in a report on Thursday, August 18th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $57.00 price objective (up from $55.00) on shares of Sysco Corp. in a report on Tuesday, August 16th. Deutsche Bank AG started coverage on shares of Sysco Corp. in a report on Monday, July 18th. They set a “hold” rating and a $52.00 price objective for the company. Finally, Jefferies Group reaffirmed a “hold” rating and set a $50.00 price objective on shares of Sysco Corp. in a report on Friday, September 30th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $50.45.
In related news, CEO William J. Delaney III sold 20,114 shares of the company’s stock in a transaction dated Friday, October 14th. The shares were sold at an average price of $49.02, for a total value of $985,988.28. Following the transaction, the chief executive officer now directly owns 422,507 shares in the company, valued at $20,711,293.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William B. Day sold 75,000 shares of the company’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $51.53, for a total transaction of $3,864,750.00. Following the completion of the transaction, the insider now owns 201,283 shares in the company, valued at $10,372,112.99. The disclosure for this sale can be found here. 8.81% of the stock is currently owned by corporate insiders.
About Sysco Corp.
Sysco Corporation (Sysco) along with its subsidiaries and divisions, is a North American distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company provides products and related services to approximately 425,000 customers, including restaurants, healthcare and educational facilities, lodging establishments and other foodservice customers.
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