Sysco Corporation (SYY) Stake Maintained by Northstar Asset Management LLC
Northstar Asset Management LLC held its stake in Sysco Corporation (NYSE:SYY) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,200 shares of the company’s stock at the end of the second quarter. Northstar Asset Management LLC’s holdings in Sysco Corporation were worth $413,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of SYY. Citizens Financial Group Inc. RI increased its stake in Sysco Corporation by 1,233.5% in the first quarter. Citizens Financial Group Inc. RI now owns 157,557 shares of the company’s stock valued at $8,181,000 after buying an additional 145,742 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased 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 during the period. Commerzbank Aktiengesellschaft FI increased 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 during the period. Suntrust Banks Inc. increased 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 during the period. Finally, OppenheimerFunds Inc. increased its stake in Sysco Corporation by 211.8% in the first quarter. OppenheimerFunds Inc. now owns 325,975 shares of the company’s stock valued at $16,925,000 after buying an additional 221,422 shares during the period. Hedge funds and other institutional investors own 78.49% of the company’s stock.
Shares of Sysco Corporation (NYSE:SYY) traded down 0.04% during trading on Friday, hitting $51.17. 2,100,733 shares of the company were exchanged. Sysco Corporation has a 12 month low of $47.15 and a 12 month high of $57.07. The stock has a market cap of $27.12 billion, a P/E ratio of 24.60 and a beta of 0.52. The company’s 50-day moving average price is $51.14 and its 200 day moving average price is $52.55.
Sysco Corporation (NYSE:SYY) last released its quarterly earnings results on Monday, August 14th. The company reported $0.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.01. The business had revenue of $14.40 billion during the quarter, compared to analyst estimates of $14.35 billion. Sysco Corporation had a net margin of 2.06% and a return on equity of 53.25%. The business’s revenue was up 5.5% on a year-over-year basis. During the same period last year, the business earned $0.64 EPS. On average, equities analysts predict that Sysco Corporation will post $2.76 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 6th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend is Thursday, October 5th. Sysco Corporation’s payout ratio is 63.16%.
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Several research firms have commented on SYY. Zacks Investment Research downgraded shares of Sysco Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Bank of America Corporation restated a “buy” rating and issued a $61.00 price target on shares of Sysco Corporation in a research note on Monday, June 26th. Royal Bank Of Canada set a $50.00 price target on shares of Sysco Corporation and gave the stock a “hold” rating in a research note on Friday, August 11th. Wells Fargo & Company restated a “buy” rating on shares of Sysco Corporation in a research note on Monday. Finally, BMO Capital Markets upgraded shares of Sysco Corporation from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $56.00 to $60.00 in a research note on Thursday, May 4th. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $56.02.
In other Sysco Corporation news, insider Wayne Shurts sold 15,600 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 58,776 shares of the company’s stock, valued at approximately $3,251,488.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO William J. Delaney III sold 30,000 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $55.55, for a total transaction of $1,666,500.00. Following the transaction, the chief executive officer now directly owns 406,725 shares of the company’s stock, valued at $22,593,573.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 122,400 shares of company stock valued at $6,494,700. Company insiders own 8.81% of the company’s stock.
Sysco Corporation Company 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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