Sysco Corporation (SYY) Stake Decreased by Nichols & Pratt Advisers LLP MA
Nichols & Pratt Advisers LLP MA lessened its position in shares of Sysco Corporation (NYSE:SYY) by 4.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 371,135 shares of the company’s stock after selling 16,089 shares during the period. Sysco Corporation makes up about 1.7% of Nichols & Pratt Advisers LLP MA’s portfolio, making the stock its 20th largest holding. Nichols & Pratt Advisers LLP MA owned approximately 0.07% of Sysco Corporation worth $18,680,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. TrimTabs Asset Management LLC lifted its holdings in shares of Sysco Corporation by 88.7% during the 1st quarter. TrimTabs Asset Management LLC now owns 2,162 shares of the company’s stock worth $112,000 after acquiring an additional 1,016 shares during the period. Arcadia Investment Management Corp MI lifted its holdings in shares of Sysco Corporation by 10.7% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 2,336 shares of the company’s stock worth $118,000 after acquiring an additional 225 shares during the period. Kistler Tiffany Companies LLC lifted its holdings in shares of Sysco Corporation by 0.4% during the 1st quarter. Kistler Tiffany Companies LLC now owns 2,903 shares of the company’s stock worth $151,000 after acquiring an additional 13 shares during the period. Blue Chip Partners Inc. lifted its holdings in shares of Sysco Corporation by 0.6% during the 1st quarter. Blue Chip Partners Inc. now owns 2,949 shares of the company’s stock worth $153,000 after acquiring an additional 19 shares during the period. Finally, AT Bancorp bought a new stake in shares of Sysco Corporation during the 2nd quarter worth approximately $154,000. 79.91% of the stock is owned by institutional investors.
A number of brokerages have recently weighed in on SYY. Wells Fargo & Company reaffirmed a “buy” rating on shares of Sysco Corporation in a report on Friday, June 23rd. BidaskClub downgraded shares of Sysco Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Jefferies Group LLC reaffirmed a “hold” rating and set a $51.00 price target on shares of Sysco Corporation in a report on Friday, August 4th. BMO Capital Markets set a $60.00 price target on shares of Sysco Corporation and gave the stock a “buy” rating in a report on Thursday, August 3rd. Finally, Pivotal Research set a $53.00 price target on shares of Sysco Corporation and gave the stock a “hold” rating in a report on Sunday, August 13th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Sysco Corporation currently has a consensus rating of “Hold” and a consensus price target of $56.17.
In other Sysco Corporation news, EVP Wayne Shurts sold 7,800 shares of Sysco Corporation stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $50.82, for a total transaction of $396,396.00. Following the completion of the sale, the executive vice president now directly owns 58,776 shares in the company, valued at $2,986,996.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William J. Delaney III sold 30,000 shares of Sysco Corporation 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 sale, the chief executive officer now owns 406,725 shares of the company’s stock, valued at $20,303,712. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 524,714 shares of company stock valued at $27,628,142. 8.81% of the stock is currently owned by company insiders.
Sysco Corporation (SYY) opened at 53.92 on Wednesday. Sysco Corporation has a 52-week low of $47.15 and a 52-week high of $57.07. The firm has a market capitalization of $28.46 billion, a PE ratio of 25.92 and a beta of 0.52. The company’s 50-day moving average is $52.31 and its 200-day moving average is $52.57.
Sysco Corporation (NYSE:SYY) last announced its earnings results 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 business had revenue of $14.40 billion during the quarter, compared to analyst estimates of $14.35 billion. During the same period in the previous year, the business posted $0.64 earnings per share. Sysco Corporation’s revenue for the quarter was up 5.5% on a year-over-year basis. Analysts forecast that Sysco Corporation will post $2.76 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 6th will be given 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 2.45%. Sysco Corporation’s payout ratio is presently 63.16%.
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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