Montag A & Associates Inc. continued to hold its stake in Sysco Corporation (NYSE:SYY) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,136 shares of the company’s stock at the end of the 2nd quarter. Montag A & Associates Inc.’s holdings in Sysco Corporation were worth $359,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in the stock. Boston Private Wealth LLC raised its position in shares of Sysco Corporation by 2.5% in the 2nd quarter. Boston Private Wealth LLC now owns 12,529 shares of the company’s stock valued at $631,000 after acquiring an additional 300 shares during the period. Progressive Investment Management Corp raised its position in shares of Sysco Corporation by 1.2% in the 2nd quarter. Progressive Investment Management Corp now owns 8,431 shares of the company’s stock valued at $424,000 after acquiring an additional 102 shares during the period. Marshall Wace LLP acquired a new stake in shares of Sysco Corporation in the 2nd quarter valued at approximately $265,000. Marshall Wace North America L.P. raised its position in shares of Sysco Corporation by 14.4% in the 2nd quarter. Marshall Wace North America L.P. now owns 109,121 shares of the company’s stock valued at $5,457,000 after acquiring an additional 13,703 shares during the period. Finally, BB&T Securities LLC raised its position in shares of Sysco Corporation by 14.2% in the 2nd quarter. BB&T Securities LLC now owns 56,600 shares of the company’s stock valued at $2,848,000 after acquiring an additional 7,040 shares during the period. Institutional investors and hedge funds own 79.97% of the company’s stock.
SYY has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Sysco Corporation from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research report on Tuesday, July 4th. BMO Capital Markets reiterated a “buy” rating and issued a $60.00 price target on shares of Sysco Corporation in a research report on Tuesday, June 27th. Bank of America Corporation reiterated a “buy” rating and issued a $61.00 price target on shares of Sysco Corporation in a research report on Monday, June 26th. Wells Fargo & Company reiterated a “buy” rating on shares of Sysco Corporation in a research report on Friday, June 23rd. Finally, Royal Bank Of Canada set a $50.00 price target on shares of Sysco Corporation and gave the company a “hold” rating in a research report on Friday, August 11th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $56.17.
In other Sysco Corporation news, CEO William J. Delaney III sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $49.92, for a total value of $1,497,600.00. Following the transaction, the chief executive officer now directly owns 406,725 shares of the company’s stock, valued at $20,303,712. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Wayne Shurts sold 7,800 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $50.82, for a total value of $396,396.00. Following the completion of the transaction, the executive vice president now directly owns 58,776 shares in the company, valued at $2,986,996.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 106,800 shares of company stock worth $5,436,180. Insiders own 8.81% of the company’s stock.
Shares of Sysco Corporation (SYY) opened at 52.85 on Wednesday. Sysco Corporation has a one year low of $47.15 and a one year high of $57.07. The firm’s 50-day moving average is $52.09 and its 200 day moving average is $52.54. The firm has a market capitalization of $28.01 billion, a P/E ratio of 25.41 and a beta of 0.52.
Sysco Corporation (NYSE:SYY) last issued its quarterly earnings results on Monday, August 14th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.01. Sysco Corporation had a return on equity of 53.25% and a net margin of 2.06%. The firm had revenue of $14.40 billion for the quarter, compared to analyst estimates of $14.35 billion. During the same period in the previous year, the firm earned $0.64 earnings per share. The company’s revenue was up 5.5% compared to the same quarter last year. Equities research analysts predict that Sysco Corporation will post $2.76 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 6th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.50%. The ex-dividend date is Thursday, October 5th. Sysco Corporation’s dividend payout ratio (DPR) is presently 63.16%.
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Sysco Corporation Profile
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.
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