Sysco Corporation (NYSE:SYY) Shares Sold by Dynamic Technology Lab Private Ltd
Dynamic Technology Lab Private Ltd lowered its position in Sysco Corporation (NYSE:SYY) by 37.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,307 shares of the company’s stock after selling 3,787 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Sysco Corporation were worth $327,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in SYY. Quadrature Capital Ltd raised its position in shares of Sysco Corporation by 167.4% in the fourth quarter. Quadrature Capital Ltd now owns 316,373 shares of the company’s stock worth $17,521,000 after buying an additional 198,042 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Sysco Corporation by 27.8% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 36,866 shares of the company’s stock valued at $1,914,000 after buying an additional 8,021 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in Sysco Corporation by 402.9% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 103,770 shares of the company’s stock valued at $5,388,000 after buying an additional 83,136 shares in the last quarter. Suntrust Banks Inc. raised its stake in Sysco Corporation by 2.6% in the first quarter. Suntrust Banks Inc. now owns 242,423 shares of the company’s stock valued at $12,585,000 after buying an additional 6,218 shares in the last quarter. Finally, Vident Investment Advisory LLC raised its stake in Sysco Corporation by 2.7% in the fourth quarter. Vident Investment Advisory LLC now owns 47,586 shares of the company’s stock valued at $2,635,000 after buying an additional 1,239 shares in the last quarter. 78.48% of the stock is currently owned by hedge funds and other institutional investors.
Sysco Corporation (NYSE:SYY) traded up 0.44% during midday trading on Friday, reaching $52.33. The company had a trading volume of 2,286,819 shares. The stock has a market cap of $28.01 billion, a P/E ratio of 27.59 and a beta of 0.52. Sysco Corporation has a 12 month low of $47.15 and a 12 month high of $57.07. The firm has a 50-day moving average of $51.49 and a 200-day moving average of $52.71.
Sysco Corporation (NYSE:SYY) last announced its quarterly earnings data on Monday, May 8th. The company reported $0.51 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.51. The business had revenue of $13.52 billion for the quarter, compared to analysts’ expectations of $13.14 billion. Sysco Corporation had a net margin of 1.93% and a return on equity of 47.28%. The business’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.46 earnings per share. On average, equities analysts expect that Sysco Corporation will post $2.47 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 6th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.32 annualized dividend and a dividend yield of 2.52%. Sysco Corporation’s dividend payout ratio is presently 69.47%.
A number of research analysts recently commented on the company. BMO Capital Markets set a $60.00 price target on Sysco Corporation and gave the stock a “buy” rating in a research note on Thursday. Zacks Investment Research upgraded Sysco Corporation from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Friday, July 21st. Wells Fargo & Company reaffirmed a “buy” rating on shares of Sysco Corporation in a report on Monday, July 17th. Bank of America Corporation reaffirmed a “buy” rating and set a $61.00 target price on shares of Sysco Corporation in a report on Monday, June 26th. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $57.00 target price on shares of Sysco Corporation in a report on Friday, June 23rd. Nine analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $56.02.
In related news, CEO William J. Delaney III sold 30,000 shares of the stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $49.92, for a total transaction of $1,497,600.00. Following the transaction, the chief executive officer now owns 406,725 shares in the company, valued at $20,303,712. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Wayne Shurts sold 15,600 shares of the stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $55.32, for a total transaction of $862,992.00. Following the transaction, the insider now owns 58,776 shares in the company, valued at approximately $3,251,488.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 152,400 shares of company stock worth $8,121,300. Insiders own 8.81% of the company’s stock.
About Sysco Corporation
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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