Richard C. Young & CO. LTD. cut its holdings in shares of Sysco Corporation (NYSE:SYY) by 5.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 191,321 shares of the company’s stock after selling 10,290 shares during the quarter. Sysco accounts for approximately 2.0% of Richard C. Young & CO. LTD.’s holdings, making the stock its 21st biggest holding. Richard C. Young & CO. LTD.’s holdings in Sysco were worth $10,322,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the business. Geode Capital Management LLC increased its stake in shares of Sysco by 6.3% in the first quarter. Geode Capital Management LLC now owns 4,441,800 shares of the company’s stock worth $230,257,000 after buying an additional 264,430 shares during the period. RiverPoint Capital Management LLC boosted its holdings in Sysco by 4.1% in the first quarter. RiverPoint Capital Management LLC now owns 87,497 shares of the company’s stock valued at $4,543,000 after acquiring an additional 3,409 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of Sysco by 4.3% during the 1st quarter. Parallel Advisors LLC now owns 3,387 shares of the company’s stock valued at $179,000 after buying an additional 140 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Sysco by 5.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,275,252 shares of the company’s stock valued at $66,211,000 after buying an additional 61,937 shares in the last quarter. Finally, Regal Investment Advisors LLC boosted its holdings in shares of Sysco by 8.5% during the 1st quarter. Regal Investment Advisors LLC now owns 12,938 shares of the company’s stock valued at $672,000 after buying an additional 1,010 shares in the last quarter. 80.22% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Wayne Shurts sold 15,600 shares of the stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $56.66, for a total value of $883,896.00. Following the completion of the sale, the insider now directly owns 56,985 shares of the company’s stock, valued at approximately $3,228,770.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William J. Delaney III sold 30,000 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $53.16, for a total transaction of $1,594,800.00. Following the completion of the sale, the chief executive officer now directly owns 406,725 shares of the company’s stock, valued at $21,621,501. The disclosure for this sale can be found here. Insiders sold a total of 2,237,981 shares of company stock valued at $120,454,412 over the last three months. 9.60% of the stock is currently owned by insiders.
Sysco Corporation (NYSE:SYY) traded down $0.25 during midday trading on Wednesday, hitting $59.28. 3,361,400 shares of the stock traded hands, compared to its average volume of 2,892,166. Sysco Corporation has a 12-month low of $48.85 and a 12-month high of $59.66. The stock has a market cap of $31,018.48, a price-to-earnings ratio of 23.34, a P/E/G ratio of 2.66 and a beta of 0.54. The company has a quick ratio of 0.88, a current ratio of 1.40 and a debt-to-equity ratio of 3.77.
Sysco (NYSE:SYY) last released its quarterly earnings results on Monday, November 6th. The company reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.02. The firm had revenue of $14.65 billion during the quarter, compared to analyst estimates of $14.43 billion. Sysco had a net margin of 2.12% and a return on equity of 58.47%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.67 EPS. analysts forecast that Sysco Corporation will post 2.77 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 5th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 2.43%. This is a positive change from Sysco’s previous quarterly dividend of $0.33. The ex-dividend date is Thursday, January 4th. Sysco’s dividend payout ratio is currently 60.00%.
A number of analysts have recently commented on the stock. Wells Fargo & Company restated a “buy” rating on shares of Sysco in a report on Monday, August 14th. Zacks Investment Research cut shares of Sysco from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Pivotal Research set a $53.00 price target on shares of Sysco and gave the stock a “hold” rating in a research note on Sunday, August 13th. Royal Bank Of Canada set a $50.00 price target on shares of Sysco and gave the stock a “hold” rating in a research note on Friday, August 11th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Sysco in a research report on Tuesday, September 12th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $56.42.
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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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