Citizens Financial Group Inc RI Has $7.91 Million Position in Sysco Corporation (SYY)
Citizens Financial Group Inc RI lowered its position in Sysco Corporation (NYSE:SYY) by 0.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 157,110 shares of the company’s stock after selling 447 shares during the quarter. Citizens Financial Group Inc RI’s holdings in Sysco Corporation were worth $7,908,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. TrimTabs Asset Management LLC grew its holdings in shares of Sysco Corporation by 88.7% in the first quarter. TrimTabs Asset Management LLC now owns 2,162 shares of the company’s stock valued at $112,000 after purchasing an additional 1,016 shares during the period. Arcadia Investment Management Corp MI grew its holdings in shares of Sysco Corporation by 10.7% in the second quarter. Arcadia Investment Management Corp MI now owns 2,336 shares of the company’s stock valued at $118,000 after purchasing an additional 225 shares during the period. Manchester Capital Management LLC grew its holdings in shares of Sysco Corporation by 13.4% in the second quarter. Manchester Capital Management LLC now owns 2,538 shares of the company’s stock valued at $128,000 after purchasing an additional 300 shares during the period. Kistler Tiffany Companies LLC grew its holdings in shares of Sysco Corporation by 0.4% in the second quarter. Kistler Tiffany Companies LLC now owns 2,915 shares of the company’s stock valued at $147,000 after purchasing an additional 12 shares during the period. Finally, Blue Chip Partners Inc. grew its holdings in shares of Sysco Corporation by 0.6% in the second quarter. Blue Chip Partners Inc. now owns 2,967 shares of the company’s stock valued at $149,000 after purchasing an additional 18 shares during the period. 79.91% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO William J. Delaney III sold 30,000 shares of the business’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $49.92, for a total transaction of $1,497,600.00. Following the completion of the sale, the chief executive officer now owns 406,725 shares in the company, valued at approximately $20,303,712. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William J. Delaney III sold 400,000 shares of the business’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $53.91, for a total value of $21,564,000.00. Following the sale, the chief executive officer now owns 576,725 shares of the company’s stock, valued at approximately $31,091,244.75. The disclosure for this sale can be found here. Insiders have sold a total of 2,124,714 shares of company stock valued at $113,927,970 in the last quarter. Company insiders own 8.81% of the company’s stock.
SYY has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of Sysco Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Royal Bank Of Canada set a $50.00 price objective on shares of Sysco Corporation and gave the company a “hold” rating in a report on Friday, August 11th. Bank of America Corporation reissued a “buy” rating and issued a $61.00 price objective on shares of Sysco Corporation in a report on Monday, June 26th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Sysco Corporation in a research note on Monday, August 14th. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $57.00 target price on shares of Sysco Corporation in a research note on Friday, June 23rd. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $56.17.
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Shares of Sysco Corporation (NYSE:SYY) opened at 53.95 on Friday. The stock’s 50 day moving average is $52.31 and its 200 day moving average is $52.57. Sysco Corporation has a 12 month low of $47.15 and a 12 month high of $57.07. The firm has a market cap of $28.48 billion, a PE ratio of 25.94 and a beta of 0.52.
Sysco Corporation (NYSE:SYY) last issued its earnings results on Monday, August 14th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.01. Sysco Corporation had a return on equity of 53.25% and a net margin of 2.06%. The business had revenue of $14.40 billion during the quarter, compared to analysts’ expectations of $14.35 billion. During the same quarter in the previous year, the business earned $0.64 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, analysts anticipate that Sysco Corporation will post $2.76 earnings per share 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 issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Thursday, October 5th. Sysco Corporation’s payout ratio is currently 63.16%.
Sysco Corporation 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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