Sysco Corp. (SYY) Shares Sold by Nichols & Pratt Advisers LLP MA
Nichols & Pratt Advisers LLP MA decreased its stake in shares of Sysco Corp. (NYSE:SYY) by 3.4% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 448,367 shares of the company’s stock after selling 15,566 shares during the period. Sysco Corp. comprises 2.0% of Nichols & Pratt Advisers LLP MA’s portfolio, making the stock its 16th largest position. Nichols & Pratt Advisers LLP MA owned approximately 0.08% of Sysco Corp. worth $21,975,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of SYY. AJO LP boosted its stake in shares of Sysco Corp. by 453.7% in the second quarter. AJO LP now owns 4,853,878 shares of the company’s stock valued at $246,286,000 after buying an additional 3,977,304 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Sysco Corp. by 66.6% in the second quarter. Ameriprise Financial Inc. now owns 6,008,805 shares of the company’s stock valued at $304,897,000 after buying an additional 2,402,928 shares during the last quarter. FMR LLC boosted its stake in shares of Sysco Corp. by 60.2% in the second quarter. FMR LLC now owns 4,668,368 shares of the company’s stock valued at $236,874,000 after buying an additional 1,754,318 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of Sysco Corp. during the second quarter valued at $81,306,000. Finally, Vanguard Group Inc. boosted its stake in shares of Sysco Corp. by 3.6% in the second quarter. Vanguard Group Inc. now owns 37,790,301 shares of the company’s stock valued at $1,917,480,000 after buying an additional 1,324,659 shares during the last quarter. 77.33% of the stock is currently owned by hedge funds and other institutional investors.
Sysco Corp. (NYSE:SYY) traded down 0.17% on Monday, reaching $53.84. The company’s stock had a trading volume of 1,295,438 shares. The firm’s 50 day moving average price is $50.19 and its 200-day moving average price is $50.43. Sysco Corp. has a 1-year low of $38.84 and a 1-year high of $54.66. The company has a market capitalization of $29.45 billion, a price-to-earnings ratio of 29.78 and a beta of 0.49.
Sysco Corp. (NYSE:SYY) last released its quarterly earnings data on Monday, November 7th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.58 by $0.09. The company had revenue of $14 billion for the quarter, compared to the consensus estimate of $13.88 billion. Sysco Corp. had a return on equity of 35.49% and a net margin of 1.99%. Sysco Corp.’s quarterly revenue was up 11.2% on a year-over-year basis. During the same period last year, the business posted $0.52 EPS. Equities analysts forecast that Sysco Corp. will post $2.43 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 27th. Shareholders of record on Friday, January 6th will be issued a dividend of $0.33 per share. This is an increase from Sysco Corp.’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a yield of 2.45%. The ex-dividend date is Wednesday, January 4th. Sysco Corp.’s dividend payout ratio (DPR) is presently 68.13%.
Several brokerages recently weighed in on SYY. Bank of America Corp. set a $54.00 price target on Sysco Corp. and gave the stock a “hold” rating in a research note on Saturday, September 17th. Vetr cut Sysco Corp. from a “hold” rating to a “sell” rating and set a $50.83 price target on the stock. in a research note on Thursday, August 18th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $57.00 price target (up from $55.00) on shares of Sysco Corp. in a research note on Tuesday, August 16th. Pivotal Research upped their price target on Sysco Corp. from $45.00 to $53.00 and gave the stock a “hold” rating in a research note on Tuesday, November 8th. Finally, Barclays PLC raised Sysco Corp. from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $48.00 to $53.00 in a research note on Wednesday, November 9th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $52.63.
In other news, insider William B. Day sold 26,507 shares of Sysco Corp. stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $49.00, for a total value of $1,298,843.00. Following the transaction, the insider now directly owns 132,790 shares in the company, valued at approximately $6,506,710. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Greg D. Bertrand sold 16,500 shares of Sysco Corp. stock in a transaction on Monday, November 7th. The shares were sold at an average price of $50.79, for a total value of $838,035.00. Following the completion of the transaction, the senior vice president now owns 57,491 shares in the company, valued at $2,919,967.89. The disclosure for this sale can be found here. Company insiders own 8.81% 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.
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