16,000 Shares in Sysco Corporation (SYY) Purchased by Quantum Capital Management
Quantum Capital Management bought a new stake in Sysco Corporation (NYSE:SYY) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 16,000 shares of the company’s stock, valued at approximately $863,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in SYY. Vanguard Group Inc. grew its position in Sysco Corporation by 1.6% during the second quarter. Vanguard Group Inc. now owns 38,501,911 shares of the company’s stock valued at $1,937,801,000 after acquiring an additional 590,968 shares during the last quarter. BlackRock Inc. boosted its holdings in Sysco Corporation by 0.3% in the second quarter. BlackRock Inc. now owns 32,291,082 shares of the company’s stock valued at $1,625,211,000 after acquiring an additional 83,464 shares in the last quarter. State Street Corp boosted its holdings in Sysco Corporation by 1.0% in the second quarter. State Street Corp now owns 26,707,981 shares of the company’s stock valued at $1,344,209,000 after acquiring an additional 272,303 shares in the last quarter. Capital World Investors boosted its holdings in Sysco Corporation by 11.7% in the second quarter. Capital World Investors now owns 13,767,000 shares of the company’s stock valued at $692,893,000 after acquiring an additional 1,445,000 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Sysco Corporation by 4.1% in the second quarter. Ameriprise Financial Inc. now owns 10,242,998 shares of the company’s stock valued at $515,484,000 after acquiring an additional 405,191 shares in the last quarter. 80.30% of the stock is currently owned by institutional investors and hedge funds.
Shares of Sysco Corporation (SYY) traded up $0.38 during trading hours on Friday, hitting $54.48. The company had a trading volume of 2,003,300 shares, compared to its average volume of 2,918,071. The company has a market cap of $28,590.00, a P/E ratio of 21.22, a PEG ratio of 2.43 and a beta of 0.53. The company has a current ratio of 1.40, a quick ratio of 0.88 and a debt-to-equity ratio of 3.77. Sysco Corporation has a 52 week low of $48.85 and a 52 week high of $57.23.
Sysco Corporation (NYSE:SYY) last announced its quarterly earnings data on Monday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.02. The company had revenue of $14.65 billion during the quarter, compared to the consensus estimate of $14.43 billion. Sysco Corporation had a return on equity of 58.47% and a net margin of 2.12%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.67 EPS. research analysts predict that Sysco Corporation will post 2.77 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 5th will be paid a dividend of $0.36 per share. This is an increase from Sysco Corporation’s previous quarterly dividend of $0.33. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.64%. Sysco Corporation’s payout ratio is 60.27%.
Several analysts recently weighed in on the stock. Zacks Investment Research cut shares of Sysco Corporation from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Jefferies Group LLC reissued a “hold” rating and set a $51.00 price objective on shares of Sysco Corporation in a research report on Friday, August 4th. Wells Fargo & Company reissued a “buy” rating on shares of Sysco Corporation in a research report on Monday, August 14th. Pivotal Research set a $53.00 price objective on Sysco Corporation and gave the company a “hold” rating in a research report on Sunday, August 13th. Finally, Royal Bank Of Canada set a $50.00 price objective on Sysco Corporation and gave the company a “hold” rating in a research report on Friday, August 11th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $56.42.
COPYRIGHT VIOLATION WARNING: This story was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this story on another domain, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright laws. The original version of this story can be viewed at https://www.thecerbatgem.com/2017/11/17/16000-shares-in-sysco-corporation-syy-purchased-by-quantum-capital-management.html.
In related news, CEO William J. Delaney III sold 150,000 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $54.05, for a total value of $8,107,500.00. Following the transaction, the chief executive officer now directly owns 526,725 shares of the company’s stock, valued at approximately $28,469,486.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Wayne Shurts sold 7,800 shares of the company’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $54.86, for a total value of $427,908.00. Following the sale, the executive vice president now directly owns 58,776 shares in the company, valued at $3,224,451.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,275,781 shares of company stock worth $122,319,128. 9.60% of the stock is owned by 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.
Want to see what other hedge funds are holding SYY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sysco Corporation (NYSE:SYY).
Receive News & Stock Ratings for Sysco Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sysco Corporation and related stocks with our FREE daily email newsletter.