Richard C. Young & CO. LTD. Sells 9,941 Shares of Sysco Corporation (NYSE:SYY)
Richard C. Young & CO. LTD. decreased its stake in shares of Sysco Corporation (NYSE:SYY) by 4.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 206,696 shares of the company’s stock after selling 9,941 shares during the period. Sysco Corporation makes up about 2.1% of Richard C. Young & CO. LTD.’s holdings, making the stock its 18th largest position. Richard C. Young & CO. LTD.’s holdings in Sysco Corporation were worth $10,732,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in SYY. North Star Investment Management Corp. raised its position in Sysco Corporation by 81.2% in the first quarter. North Star Investment Management Corp. now owns 1,944 shares of the company’s stock worth $101,000 after buying an additional 871 shares in the last quarter. TrimTabs Asset Management LLC raised its position in Sysco Corporation by 88.7% in the first quarter. TrimTabs Asset Management LLC now owns 2,162 shares of the company’s stock worth $112,000 after buying an additional 1,016 shares in the last quarter. Howe & Rusling Inc. raised its position in Sysco Corporation by 81.1% in the first quarter. Howe & Rusling Inc. now owns 2,595 shares of the company’s stock worth $135,000 after buying an additional 1,162 shares in the last quarter. Kistler Tiffany Companies LLC raised its position in Sysco Corporation by 0.4% in the first quarter. Kistler Tiffany Companies LLC now owns 2,903 shares of the company’s stock worth $151,000 after buying an additional 13 shares in the last quarter. Finally, Blue Chip Partners Inc. increased its stake in shares of Sysco Corporation by 0.6% in the first quarter. Blue Chip Partners Inc. now owns 2,949 shares of the company’s stock worth $153,000 after buying an additional 19 shares during the last quarter. Institutional investors own 78.49% of the company’s stock.
Sysco Corporation (NYSE SYY) traded down 0.04% on Friday, hitting $51.17. The company’s stock had a trading volume of 2,100,733 shares. The firm has a market cap of $27.12 billion, a price-to-earnings ratio of 24.60 and a beta of 0.52. The firm has a 50 day moving average of $51.14 and a 200 day moving average of $52.55. Sysco Corporation has a 12 month low of $47.15 and a 12 month high of $57.07.
Sysco Corporation (NYSE:SYY) last announced its quarterly earnings data on Monday, August 14th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.01. Sysco Corporation had a net margin of 2.06% and a return on equity of 53.25%. The company had revenue of $14.40 billion during the quarter, compared to analysts’ expectations of $14.35 billion. During the same quarter in the prior year, the company earned $0.64 EPS. Sysco Corporation’s revenue was up 5.5% compared to the same quarter last year. Equities research analysts forecast that Sysco Corporation will post $2.76 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 6th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.32 annualized dividend and a yield of 2.58%. Sysco Corporation’s dividend payout ratio is presently 63.16%.
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A number of brokerages recently commented on SYY. Wells Fargo & Company reaffirmed a “buy” rating on shares of Sysco Corporation in a research report on Monday, August 14th. Zacks Investment Research downgraded Sysco Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. BMO Capital Markets raised Sysco Corporation from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $56.00 to $60.00 in a research report on Thursday, May 4th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $51.00 price target (up from $50.00) on shares of Sysco Corporation in a report on Monday, May 8th. Finally, BidaskClub lowered Sysco Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Ten equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $56.02.
In other Sysco Corporation news, EVP Wayne Shurts sold 7,800 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $55.30, for a total value of $431,340.00. Following the transaction, the executive vice president now directly owns 58,776 shares in the company, valued at approximately $3,250,312.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William J. Delaney III sold 30,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 406,725 shares in the company, valued at $22,593,573.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 122,400 shares of company stock valued at $6,494,700. 8.81% of the stock is owned by corporate insiders.
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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