Spectrum Management Group Inc. Sells 3,920 Shares of Sysco Corporation (SYY)

Spectrum Management Group Inc. reduced its holdings in shares of Sysco Corporation (NYSE:SYY) by 14.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,475 shares of the company’s stock after selling 3,920 shares during the period. Spectrum Management Group Inc.’s holdings in Sysco Corporation were worth $1,213,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. First Personal Financial Services boosted its position in shares of Sysco Corporation by 293.2% during the 3rd quarter. First Personal Financial Services now owns 1,962 shares of the company’s stock valued at $106,000 after acquiring an additional 1,463 shares in the last quarter. Arcadia Investment Management Corp MI boosted its position 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 valued at $118,000 after acquiring an additional 225 shares in the last quarter. Acrospire Investment Management LLC boosted its position in shares of Sysco Corporation by 84.6% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,400 shares of the company’s stock valued at $121,000 after acquiring an additional 1,100 shares in the last quarter. Manchester Capital Management LLC boosted its position in shares of Sysco Corporation by 13.4% during the 2nd quarter. Manchester Capital Management LLC now owns 2,538 shares of the company’s stock valued at $128,000 after acquiring an additional 300 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its position in shares of Sysco Corporation by 465.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,783 shares of the company’s stock valued at $150,000 after acquiring an additional 2,291 shares in the last quarter. Institutional investors and hedge funds own 80.30% of the company’s stock.

In related news, Director Trian Fund Management, L.P. bought 889,561 shares of the company’s stock in a transaction on Tuesday, September 19th. The stock was bought at an average cost of $53.68 per share, with a total value of $47,751,634.48. Following the completion of the purchase, the director now owns 5,529 shares in the company, valued at approximately $296,796.72. The acquisition was disclosed in a legal 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 dated Wednesday, August 23rd. The stock was sold at an average price of $51.31, for a total transaction of $1,539,300.00. Following the completion of the transaction, the chief executive officer now directly owns 406,725 shares of the company’s stock, valued at $20,869,059.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,275,781 shares of company stock valued at $122,319,128. Insiders own 9.60% of the company’s stock.

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Sysco Corporation (SYY) traded up $0.41 during trading hours on Friday, reaching $54.89. 2,739,586 shares of the company’s stock were exchanged, compared to its average volume of 2,917,277. The firm has a market capitalization of $28,530.00, a price-to-earnings ratio of 21.54, a PEG ratio of 2.46 and a beta of 0.53. Sysco Corporation has a 52-week low of $48.85 and a 52-week high of $57.23. The company has a debt-to-equity ratio of 3.77, a quick ratio of 0.88 and a current ratio of 1.40.

Sysco Corporation (NYSE:SYY) last announced its earnings results on Monday, November 6th. The company reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.02. Sysco Corporation had a net margin of 2.12% and a return on equity of 58.47%. The company had revenue of $14.65 billion during the quarter, compared to the consensus estimate of $14.43 billion. During the same period in the previous year, the firm posted $0.67 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. analysts expect that Sysco Corporation will post 2.77 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, January 5th will be paid a $0.36 dividend. 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 2.62%. Sysco Corporation’s payout ratio is currently 60.27%.

Several brokerages have recently weighed in on SYY. Jefferies Group LLC reiterated a “hold” rating and set a $51.00 target price on shares of Sysco Corporation in a research report on Friday, August 4th. Pivotal Research set a $53.00 target price on shares of Sysco Corporation and gave the company a “hold” rating in a research report on Sunday, August 13th. BMO Capital Markets set a $60.00 target price on shares of Sysco Corporation and gave the company a “buy” rating in a research report on Thursday, August 3rd. Zacks Investment Research lowered shares of Sysco Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Finally, Wells Fargo & Company reiterated a “buy” rating on shares of Sysco Corporation in a research report on Monday, August 14th. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $56.42.

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.

Institutional Ownership by Quarter for Sysco Corporation (NYSE:SYY)

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