Dimensional Fund Advisors LP boosted its position in shares of Sysco Corporation (NYSE:SYY) by 0.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,285,024 shares of the company’s stock after acquiring an additional 9,772 shares during the quarter. Dimensional Fund Advisors LP owned 0.24% of Sysco Corporation worth $64,672,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. TrimTabs Asset Management LLC raised its position 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 acquiring an additional 1,016 shares in the last quarter. Arcadia Investment Management Corp MI raised its position 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 acquiring an additional 225 shares in the last quarter. Acrospire Investment Management LLC raised its position 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 acquiring an additional 1,100 shares in the last quarter. Manchester Capital Management LLC raised its position 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 acquiring an additional 300 shares in the last quarter. Finally, Kistler Tiffany Companies LLC raised its position 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 acquiring an additional 12 shares in the last quarter. 79.92% of the stock is currently owned by hedge funds and other institutional investors.
SYY has been the topic of several analyst reports. Zacks Investment Research lowered shares of Sysco Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Royal Bank Of Canada set a $50.00 price target on shares of Sysco Corporation and gave the stock a “hold” rating in a research report on Friday, August 11th. Bank of America Corporation reaffirmed a “buy” rating and set a $61.00 price target on shares of Sysco Corporation in a research report on Monday, June 26th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Sysco Corporation in a research report on Monday, August 14th. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $57.00 price target on shares of Sysco Corporation in a research report on Friday, June 23rd. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $56.42.
Sysco Corporation (NYSE SYY) opened at 54.28 on Friday. Sysco Corporation has a 12 month low of $47.15 and a 12 month high of $57.07. The company has a market capitalization of $28.65 billion, a price-to-earnings ratio of 26.10 and a beta of 0.52. The stock has a 50 day moving average of $53.44 and a 200 day moving average of $52.78.
Sysco Corporation (NYSE:SYY) last released its earnings results on Monday, August 14th. The company reported $0.72 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.01. The company had revenue of $14.40 billion for the quarter, compared to analysts’ expectations of $14.35 billion. Sysco Corporation had a return on equity of 53.25% and a net margin of 2.06%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.64 EPS. Equities analysts anticipate that Sysco Corporation will post $2.76 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 6th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend is Thursday, October 5th. Sysco Corporation’s payout ratio is 63.16%.
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In related news, CEO William J. Delaney III sold 118,200 shares of the business’s stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $54.06, for a total value of $6,389,892.00. Following the sale, the chief executive officer now directly owns 494,925 shares in the company, valued at approximately $26,755,645.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul T. Moskowitz sold 16,667 shares of the business’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $54.12, for a total value of $902,018.04. Following the completion of the sale, the insider now owns 61,936 shares in the company, valued at $3,351,976.32. The disclosure for this sale can be found here. Insiders have sold a total of 2,111,381 shares of company stock worth $113,332,388 over the last quarter. Company insiders own 8.81% of the company’s stock.
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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