Toth Financial Advisory Corp Raises Stake in Sysco Corp. (SYY)
Toth Financial Advisory Corp raised its position in Sysco Corp. (NYSE:SYY) by 0.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 122,928 shares of the company’s stock after buying an additional 512 shares during the period. Sysco Corp. makes up about 1.8% of Toth Financial Advisory Corp’s portfolio, making the stock its 18th largest position. Toth Financial Advisory Corp’s holdings in Sysco Corp. were worth $6,025,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. First PREMIER Bank raised its stake in Sysco Corp. by 18.9% in the third quarter. First PREMIER Bank now owns 10,058 shares of the company’s stock worth $493,000 after buying an additional 1,600 shares during the last quarter. Canandaigua National Bank & Trust Co. raised its stake in Sysco Corp. by 5.0% in the third quarter. Canandaigua National Bank & Trust Co. now owns 11,243 shares of the company’s stock worth $551,000 after buying an additional 533 shares during the last quarter. Capstone Asset Management Co. raised its stake in Sysco Corp. by 7.1% in the third quarter. Capstone Asset Management Co. now owns 66,860 shares of the company’s stock worth $3,277,000 after buying an additional 4,440 shares during the last quarter. Creative Planning raised its stake in Sysco Corp. by 1.4% in the third quarter. Creative Planning now owns 107,102 shares of the company’s stock worth $5,249,000 after buying an additional 1,518 shares during the last quarter. Finally, Dynamic Advisors Solutions LLC raised its stake in shares of Sysco Corp. by 8.0% in the third quarter. Dynamic Advisors Solutions LLC now owns 8,094 shares of the company’s stock worth $397,000 after buying an additional 601 shares in the last quarter. 77.33% of the stock is owned by institutional investors and hedge funds.
Shares of Sysco Corp. (NYSE:SYY) traded up 0.35% during mid-day trading on Tuesday, hitting $53.90. 1,903,329 shares of the stock traded hands. The stock has a 50 day moving average price of $50.35 and a 200-day moving average price of $50.46. The company has a market cap of $29.48 billion, a P/E ratio of 29.81 and a beta of 0.49. Sysco Corp. has a one year low of $38.84 and a one year high of $54.66.
Sysco Corp. (NYSE:SYY) last released its quarterly earnings results on Monday, November 7th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.09. The business earned $14 billion during 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%. The business’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.52 EPS. On average, analysts forecast that Sysco Corp. will post $2.43 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 27th. Investors of record on Friday, January 6th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend is Wednesday, January 4th. This is a boost from Sysco Corp.’s previous quarterly dividend of $0.31. Sysco Corp.’s dividend payout ratio (DPR) is currently 68.13%.
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A number of equities research analysts recently issued reports on SYY shares. Vetr lowered shares of Sysco Corp. from a “hold” rating to a “sell” rating and set a $50.83 price objective for the company. in a report on Thursday, August 18th. Credit Suisse Group AG lowered shares of Sysco Corp. from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $59.00 to $55.00 in a report on Wednesday, November 16th. Bank of America Corp. raised shares of Sysco Corp. from a “neutral” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Tuesday, November 8th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $57.00 price objective (up previously from $55.00) on shares of Sysco Corp. in a report on Tuesday, August 16th. Finally, Barclays PLC raised shares of Sysco Corp. from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $48.00 to $53.00 in a report on Wednesday, November 9th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $52.63.
In related news, SVP Greg D. Bertrand sold 7,382 shares of Sysco Corp. stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $53.50, for a total transaction of $394,937.00. Following the completion of the sale, the senior vice president now owns 38,272 shares in the company, valued at approximately $2,047,552. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Paul T. Moskowitz sold 74,271 shares of Sysco Corp. stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $51.40, for a total value of $3,817,529.40. Following the sale, the insider now owns 78,695 shares of the company’s stock, valued at approximately $4,044,923. The disclosure for this sale can be found here. Corporate 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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