Crossvault Capital Management LLC maintained its position in Sysco Corp. (NYSE:SYY) during the second quarter, Holdings Channel reports. The institutional investor owned 5,323 shares of the company’s stock at the end of the second quarter. Crossvault Capital Management LLC’s holdings in Sysco Corp. were worth $270,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cribstone Capital Management LLC purchased a new stake in shares of Sysco Corp. during the second quarter worth about $102,000. Jolley Asset Management LLC boosted its stake 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 worth $109,000 after buying an additional 435 shares during the last quarter. Arcadia Investment Management Corp MI boosted its stake 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 worth $144,000 after buying an additional 1,000 shares during the last quarter. Kistler Tiffany Companies LLC boosted its stake 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 worth $145,000 after buying an additional 13 shares during the last quarter. Finally, Integrated Investment Consultants LLC boosted its stake 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 worth $150,000 after buying an additional 2,200 shares during the last quarter. 76.65% of the stock is owned by institutional investors.
Sysco Corp. (NYSE:SYY) traded down 0.04% during midday trading on Friday, hitting $49.01. The company had a trading volume of 3,490,722 shares. The company’s 50 day moving average is $51.18 and its 200-day moving average is $49.54. Sysco Corp. has a one year low of $38.34 and a one year high of $53.97. The company has a market cap of $27.21 billion, a P/E ratio of 29.88 and a beta of 0.56.
Sysco Corp. (NYSE:SYY) last posted its quarterly earnings results on Monday, August 15th. The company reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.03. Sysco Corp. had a return on equity of 28.67% and a net margin of 1.89%. The company earned $13.65 billion during the quarter, compared to the consensus estimate of $13.68 billion. During the same period last year, the business earned $0.52 EPS. The business’s quarterly revenue was up 10.0% on a year-over-year basis. On average, equities analysts predict that Sysco Corp. will post $2.31 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 7th will be paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Wednesday, October 5th. Sysco Corp.’s dividend payout ratio (DPR) is presently 75.15%.
SYY has been the subject of a number of research reports. Argus boosted their target price on Sysco Corp. from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, August 19th. Bank of America Corp. set a $54.00 target price on Sysco Corp. and gave the stock a “hold” rating in a report on Saturday, September 17th. Vetr upgraded Sysco Corp. from a “sell” rating to a “hold” rating and set a $50.25 target price for the company in a report on Monday, September 12th. Deutsche Bank AG initiated coverage on Sysco Corp. in a report on Monday, July 18th. They set a “hold” rating and a $52.00 target price for the company. Finally, BMO Capital Markets reiterated a “hold” rating and set a $52.00 target price on shares of Sysco Corp. in a report on Thursday, June 16th. Three 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’s stock. The company has a consensus rating of “Hold” and an average target price of $50.45.
In related news, insider William B. Day sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The stock was sold at an average price of $51.53, for a total value of $3,864,750.00. Following the transaction, the insider now directly owns 201,283 shares of the company’s stock, valued at approximately $10,372,112.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William J. Delaney III sold 20,114 shares of the firm’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $51.96, for a total value of $1,045,123.44. Following the completion of the transaction, the chief executive officer now directly owns 422,507 shares in the company, valued at $21,953,463.72. The disclosure for this sale can be found here. Insiders own 7.77% of the company’s stock.
Sysco Corp. Company Profile
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.
Want to see what other hedge funds are holding SYY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sysco Corp. (NYSE:SYY).
Receive News & Ratings for Sysco Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sysco Corp. and related companies with MarketBeat.com's FREE daily email newsletter.