Palladium Partners LLC Has $344,000 Stake in Sysco Corporation (SYY)

Palladium Partners LLC continued to hold its position in shares of Sysco Corporation (NYSE:SYY) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,616 shares of the company’s stock at the end of the first quarter. Palladium Partners LLC’s holdings in Sysco Corporation were worth $344,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of SYY. North Star Investment Management Corp. increased its stake in Sysco Corporation by 81.2% in the first quarter. North Star Investment Management Corp. now owns 1,944 shares of the company’s stock worth $101,000 after buying an additional 871 shares in the last quarter. TrimTabs Asset Management LLC increased its stake in Sysco Corporation by 88.7% in the first quarter. TrimTabs Asset Management LLC now owns 2,162 shares of the company’s stock worth $112,000 after buying an additional 1,016 shares in the last quarter. Howe & Rusling Inc. increased its stake in Sysco Corporation by 81.1% in the first quarter. Howe & Rusling Inc. now owns 2,595 shares of the company’s stock worth $135,000 after buying an additional 1,162 shares in the last quarter. Kistler Tiffany Companies LLC increased its stake in Sysco Corporation by 0.4% in the first quarter. Kistler Tiffany Companies LLC now owns 2,903 shares of the company’s stock worth $151,000 after buying an additional 13 shares in the last quarter. Finally, Blue Chip Partners Inc. increased its stake in Sysco Corporation by 0.6% in the first quarter. Blue Chip Partners Inc. now owns 2,949 shares of the company’s stock worth $153,000 after buying an additional 19 shares in the last quarter. Institutional investors and hedge funds own 78.93% of the company’s stock.

Institutional Ownership by Quarter for Sysco Corporation (NYSE:SYY)

Shares of Sysco Corporation (SYY) opened at 49.92 on Friday. The firm has a 50 day moving average of $54.64 and a 200 day moving average of $53.67. The stock has a market cap of $26.72 billion, a P/E ratio of 26.32 and a beta of 0.53. Sysco Corporation has a one year low of $47.15 and a one year high of $57.07.

Sysco Corporation (NYSE:SYY) last announced its quarterly earnings data on Monday, May 8th. The company reported $0.51 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.51. The company had revenue of $13.52 billion for the quarter, compared to analysts’ expectations of $13.14 billion. Sysco Corporation had a net margin of 1.93% and a return on equity of 47.28%. The business’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 EPS. On average, equities research analysts predict that Sysco Corporation will post $2.47 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 28th. Shareholders of record on Friday, July 7th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.64%. The ex-dividend date is Wednesday, July 5th. Sysco Corporation’s payout ratio is 69.47%.

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A number of analysts recently commented on the stock. Wells Fargo & Company reissued a “buy” rating on shares of Sysco Corporation in a report on Friday. J P Morgan Chase & Co reissued an “overweight” rating and set a $57.00 price objective on shares of Sysco Corporation in a report on Friday. BidaskClub downgraded shares of Sysco Corporation from a “buy” rating to a “hold” rating in a report on Wednesday. Loop Capital assumed coverage on shares of Sysco Corporation in a report on Monday, May 15th. They set a “buy” rating and a $61.00 price objective on the stock. Finally, Guggenheim reissued a “neutral” rating on shares of Sysco Corporation in a report on Tuesday, April 11th. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $56.30.

In other Sysco Corporation news, insider Wayne Shurts sold 15,600 shares of the firm’s stock in a transaction dated Wednesday, April 5th. The shares were sold at an average price of $51.66, for a total value of $805,896.00. Following the completion of the transaction, the insider now directly owns 43,176 shares in the company, valued at $2,230,472.16. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Daniel J. Brutto bought 2,500 shares of the firm’s stock in a transaction on Friday, March 31st. The stock was purchased at an average price of $51.94 per share, with a total value of $129,850.00. Following the completion of the acquisition, the director now owns 3,968 shares of the company’s stock, valued at $206,097.92. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 144,600 shares of company stock valued at $7,798,428. Corporate insiders own 8.81% of the company’s stock.

About Sysco Corporation

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “SYY”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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