Bartlett & Co. LLC decreased its stake in shares of Sysco Corp. (NYSE:SYY) by 1.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 131,561 shares of the company’s stock after selling 1,700 shares during the period. Bartlett & Co. LLC’s holdings in Sysco Corp. were worth $6,675,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of the stock. Cribstone Capital Management LLC bought a new position in shares of Sysco Corp. during the second quarter valued at $102,000. Jolley Asset Management LLC boosted its position in shares of Sysco Corp. by 25.4% in the second quarter. Jolley Asset Management LLC now owns 2,150 shares of the company’s stock valued at $109,000 after buying an additional 435 shares during the period. Arcadia Investment Management Corp MI boosted its position in shares of Sysco Corp. by 54.6% in the second quarter. Arcadia Investment Management Corp MI now owns 2,831 shares of the company’s stock valued at $144,000 after buying an additional 1,000 shares during the period. Kistler Tiffany Companies LLC boosted its position in shares of Sysco Corp. by 0.5% in the second quarter. Kistler Tiffany Companies LLC now owns 2,866 shares of the company’s stock valued at $145,000 after buying an additional 13 shares during the period. Finally, Integrated Investment Consultants LLC boosted its position in shares of Sysco Corp. by 293.3% in the second quarter. Integrated Investment Consultants LLC now owns 2,950 shares of the company’s stock valued at $150,000 after buying an additional 2,200 shares during the period. Institutional investors and hedge funds own 76.65% of the company’s stock.
Sysco Corp. (NYSE:SYY) traded up 0.41% on Wednesday, reaching $49.44. The company’s stock had a trading volume of 2,852,477 shares. The stock has a market cap of $27.45 billion, a P/E ratio of 30.15 and a beta of 0.56. The stock has a 50-day moving average of $51.26 and a 200-day moving average of $49.55. Sysco Corp. has a one year low of $38.34 and a one year high of $53.97.
Sysco Corp. (NYSE:SYY) last released its earnings results on Monday, August 15th. The company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.03. Sysco Corp. had a return on equity of 28.67% and a net margin of 1.89%. The firm had revenue of $13.65 billion for the quarter, compared to analysts’ expectations of $13.68 billion. During the same period in the prior year, the firm posted $0.52 earnings per share. The company’s quarterly revenue was up 10.0% on a year-over-year basis. On average, analysts predict that Sysco Corp. will post $2.31 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 7th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.51%. Sysco Corp.’s dividend payout ratio is currently 75.15%.
SYY has been the topic of several recent analyst reports. Argus raised their price objective on Sysco Corp. from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, August 19th. Bank of America Corp. set a $54.00 price objective on Sysco Corp. and gave the company a “hold” rating in a research note on Saturday, September 17th. Vetr upgraded Sysco Corp. from a “sell” rating to a “hold” rating and set a $50.25 target price on the stock in a research note on Monday, September 12th. Deutsche Bank AG assumed coverage on Sysco Corp. in a research note on Monday, July 18th. They set a “hold” rating and a $52.00 target price on the stock. Finally, BMO Capital Markets reiterated a “hold” rating and set a $52.00 target price on shares of Sysco Corp. in a research note on Thursday, June 16th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $50.16.
In related news, CEO William J. Delaney III sold 20,114 shares of the stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $49.51, for a total transaction of $995,844.14. Following the sale, the chief executive officer now directly owns 422,507 shares of the company’s stock, valued at $20,918,321.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider William B. Day sold 20,000 shares of the stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $51.89, for a total value of $1,037,800.00. Following the sale, the insider now directly owns 106,283 shares in the company, valued at $5,515,024.87. The disclosure for this sale can be found here. 7.77% of the stock is owned by 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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