Sysco Corporation (SYY) Shares Sold by M&T Bank Corp
M&T Bank Corp lessened its stake in shares of Sysco Corporation (NYSE:SYY) by 1.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 480,918 shares of the company’s stock after selling 9,006 shares during the period. M&T Bank Corp owned about 0.09% of Sysco Corporation worth $24,206,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of SYY. TrimTabs Asset Management LLC increased its holdings in Sysco Corporation by 88.7% during 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 during the last quarter. Arcadia Investment Management Corp MI increased its holdings in Sysco Corporation by 10.7% during the second quarter. Arcadia Investment Management Corp MI now owns 2,336 shares of the company’s stock worth $118,000 after buying an additional 225 shares during the last quarter. Acrospire Investment Management LLC increased its holdings in Sysco Corporation by 84.6% during the second quarter. Acrospire Investment Management LLC now owns 2,400 shares of the company’s stock worth $121,000 after buying an additional 1,100 shares during the last quarter. Manchester Capital Management LLC increased its holdings in Sysco Corporation by 13.4% during the second quarter. Manchester Capital Management LLC now owns 2,538 shares of the company’s stock worth $128,000 after buying an additional 300 shares during the last quarter. Finally, Kistler Tiffany Companies LLC increased its holdings in Sysco Corporation by 0.4% during the second quarter. Kistler Tiffany Companies LLC now owns 2,915 shares of the company’s stock worth $147,000 after buying an additional 12 shares during the last quarter. Institutional investors and hedge funds own 79.92% of the company’s stock.
Sysco Corporation (NYSE SYY) opened at 54.23 on Monday. The firm’s 50-day moving average is $53.15 and its 200-day moving average is $52.73. Sysco Corporation has a 12 month low of $47.15 and a 12 month high of $57.07. The company has a market cap of $28.63 billion, a price-to-earnings ratio of 26.07 and a beta of 0.52.
Sysco Corporation (NYSE:SYY) last released its quarterly earnings results on Monday, August 14th. The company reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.01. The firm 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 for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.64 EPS. On average, analysts anticipate that Sysco Corporation will post $2.76 EPS for the current fiscal year.
The business 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 dividend on an annualized basis and a dividend yield of 2.43%. Sysco Corporation’s dividend payout ratio (DPR) is presently 63.16%.
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In related news, CEO William J. Delaney III sold 400,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $53.91, for a total transaction of $21,564,000.00. Following the completion of the transaction, the chief executive officer now directly owns 576,725 shares in the company, valued at approximately $31,091,244.75. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO William J. Delaney III sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $49.92, for a total value of $1,497,600.00. Following the transaction, 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 2,141,381 shares of company stock valued at $114,829,988. 8.81% of the stock is currently owned by corporate insiders.
SYY has been the subject of a number of research analyst reports. BidaskClub downgraded shares of Sysco Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. J P Morgan Chase & Co restated an “overweight” rating and set a $57.00 price objective on shares of Sysco Corporation in a report on Friday, June 23rd. Wells Fargo & Company restated a “buy” rating on shares of Sysco Corporation in a report on Friday, June 23rd. Bank of America Corporation restated a “buy” rating and set a $61.00 price objective on shares of Sysco Corporation in a report on Monday, June 26th. Finally, BMO Capital Markets restated a “buy” rating and set a $60.00 price objective on shares of Sysco Corporation in a report on Tuesday, June 27th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $56.17.
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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