Mcdaniel Terry & Co. increased its stake in Sysco Corporation (NYSE:SYY) by 0.1% during the first quarter, Holdings Channel reports. The fund owned 4,280 shares of the company’s stock after buying an additional 3 shares during the period. Mcdaniel Terry & Co.’s holdings in Sysco Corporation were worth $222,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the company. Lynch & Associates IN boosted its stake in shares of Sysco Corporation by 8.7% in the first quarter. Lynch & Associates IN now owns 58,245 shares of the company’s stock valued at $3,024,000 after buying an additional 4,651 shares during the last quarter. Gulf International Bank UK Ltd boosted its stake in shares of Sysco Corporation by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 165,459 shares of the company’s stock valued at $8,590,000 after buying an additional 2,000 shares during the last quarter. Creative Planning boosted its stake in shares of Sysco Corporation by 1.5% in the first quarter. Creative Planning now owns 110,700 shares of the company’s stock valued at $5,748,000 after buying an additional 1,648 shares during the last quarter. Northstar Group Inc. boosted its stake in shares of Sysco Corporation by 3.0% in the first quarter. Northstar Group Inc. now owns 6,900 shares of the company’s stock valued at $357,000 after buying an additional 200 shares during the last quarter. Finally, Acropolis Investment Management LLC boosted its stake in shares of Sysco Corporation by 16.7% in the first quarter. Acropolis Investment Management LLC now owns 11,084 shares of the company’s stock valued at $575,000 after buying an additional 1,585 shares during the last quarter. 78.56% of the stock is currently owned by institutional investors.
Sysco Corporation (NYSE SYY) opened at 52.25 on Friday. Sysco Corporation has a 1-year low of $47.15 and a 1-year high of $57.07. The stock’s 50 day moving average price is $51.65 and its 200-day moving average price is $52.78. The company has a market cap of $27.96 billion, a PE ratio of 27.54 and a beta of 0.52.
Sysco Corporation (NYSE:SYY) last announced its quarterly earnings results on Monday, May 8th. The company reported $0.51 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.51. The business had revenue of $13.52 billion during the quarter, compared to the consensus estimate of $13.14 billion. Sysco Corporation had a net margin of 1.93% and a return on equity of 47.28%. The business’s revenue was up 12.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.46 EPS. On average, analysts forecast that Sysco Corporation will post $2.47 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 6th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.53%. Sysco Corporation’s dividend payout ratio is currently 69.47%.
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Several equities research analysts have weighed in on the company. BidaskClub cut Sysco Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. Zacks Investment Research cut Sysco Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, May 10th. Royal Bank Of Canada boosted their price objective on Sysco Corporation from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 9th. Barclays PLC reissued an “equal weight” rating and set a $57.00 price objective (up from $53.00) on shares of Sysco Corporation in a research note on Tuesday, May 9th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $51.00 price objective (up from $50.00) on shares of Sysco Corporation in a research note on Monday, May 8th. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Sysco Corporation has a consensus rating of “Hold” and a consensus price target of $56.02.
In other news, insider Wayne Shurts sold 15,600 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $54.25, for a total transaction of $846,300.00. Following the completion of the sale, the insider now owns 58,776 shares in the company, valued at approximately $3,188,598. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William J. Delaney III sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $55.55, for a total transaction of $1,666,500.00. Following the sale, the chief executive officer now owns 406,725 shares of the company’s stock, valued at approximately $22,593,573.75. The disclosure for this sale can be found here. Insiders have sold a total of 152,400 shares of company stock valued at $8,121,300 in the last 90 days. Insiders own 8.81% of the company’s stock.
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.
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