WealthTrust Axiom LLC reduced its position in Sysco Corp. (NYSE:SYY) by 33.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,644 shares of the company’s stock after selling 2,800 shares during the period. WealthTrust Axiom LLC’s holdings in Sysco Corp. were worth $286,000 as of its most recent filing with the SEC.
A number of other large investors also recently bought and sold shares of the company. Cribstone Capital Management LLC bought a new stake in Sysco Corp. during the second quarter worth approximately $102,000. Jolley Asset Management LLC increased its stake in Sysco Corp. by 25.4% in the second quarter. Jolley Asset Management LLC now owns 2,150 shares of the company’s stock worth $109,000 after buying an additional 435 shares during the period. Arcadia Investment Management Corp MI increased its stake in Sysco Corp. by 54.6% in the second quarter. Arcadia Investment Management Corp MI now owns 2,831 shares of the company’s stock worth $144,000 after buying an additional 1,000 shares during the period. Kistler Tiffany Companies LLC increased its stake 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 period. Finally, Integrated Investment Consultants LLC increased its stake in Sysco Corp. by 293.3% in the second quarter. Integrated Investment Consultants LLC now owns 2,950 shares of the company’s stock worth $150,000 after buying an additional 2,200 shares during the period. 76.65% of the stock is owned by institutional investors and hedge funds.
Shares of Sysco Corp. (NYSE:SYY) traded down 1.35% during mid-day trading on Monday, hitting $48.88. 4,642,890 shares of the stock traded hands. Sysco Corp. has a 12 month low of $38.34 and a 12 month high of $53.97. The firm has a 50 day moving average of $51.38 and a 200 day moving average of $49.52. The company has a market cap of $27.13 billion, a P/E ratio of 29.80 and a beta of 0.56.
Sysco Corp. (NYSE:SYY) last issued its earnings results on Monday, August 15th. The company reported $0.64 earnings per share (EPS) for the quarter, topping 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 firm earned $13.65 billion during the quarter, compared to analysts’ expectations of $13.68 billion. During the same quarter last year, the company posted $0.52 earnings per share. The firm’s revenue was up 10.0% compared to the same quarter last year. Equities analysts anticipate that Sysco Corp. will post $2.31 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 7th will be issued a dividend of $0.31 per share. The ex-dividend date is Wednesday, October 5th. This represents a $1.24 annualized dividend and a dividend yield of 2.54%. Sysco Corp.’s dividend payout ratio (DPR) is presently 75.15%.
A number of brokerages have recently issued reports on SYY. Bank of America Corp. set a $54.00 price objective on shares of Sysco Corp. and gave the company a “hold” rating in a research report on Saturday, September 17th. Barclays PLC began coverage on shares of Sysco Corp. in a research report on Friday. They set an “underweight” rating and a $48.00 price objective for the company. Argus boosted their price objective on shares of Sysco Corp. from $56.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, August 19th. Vetr raised shares of Sysco Corp. from a “strong sell” rating to a “hold” rating and set a $52.00 price objective for the company in a research report on Monday, July 18th. Finally, Deutsche Bank AG began coverage on shares of Sysco Corp. in a research report on Monday, July 18th. They set a “hold” rating and a $52.00 price objective for the company. Three analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. The company presently 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 firm’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $49.51, for a total transaction of $995,844.14. Following the sale, the chief executive officer now owns 422,507 shares in the company, valued at $20,918,321.57. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Joel T. Grade sold 16,368 shares of the firm’s stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $52.01, for a total transaction of $851,299.68. Following the sale, the chief financial officer now owns 60,031 shares in the company, valued at approximately $3,122,212.31. The disclosure for this sale can be found here. Corporate insiders own 7.77% of the company’s stock.
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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