Capital Planning Advisors LLC maintained its position in shares of Sysco Corporation (NYSE:SYY) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,260 shares of the company’s stock at the end of the first quarter. Capital Planning Advisors LLC’s holdings in Sysco Corporation were worth $688,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in SYY. Kistler Tiffany Companies LLC increased its position in Sysco Corporation by 0.4% in the first quarter. Kistler Tiffany Companies LLC now owns 2,903 shares of the company’s stock valued at $151,000 after buying an additional 13 shares during the last quarter. Buckingham Asset Management LLC increased its position in Sysco Corporation by 0.3% in the first quarter. Buckingham Asset Management LLC now owns 5,904 shares of the company’s stock valued at $307,000 after buying an additional 16 shares during the last quarter. Blue Chip Partners Inc. increased its position in Sysco Corporation by 0.6% in the first quarter. Blue Chip Partners Inc. now owns 2,949 shares of the company’s stock valued at $153,000 after buying an additional 19 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in Sysco Corporation by 1.2% in the first quarter. Sequoia Financial Advisors LLC now owns 4,198 shares of the company’s stock valued at $218,000 after buying an additional 50 shares during the last quarter. Finally, Folger Nolan Fleming Douglas Capital Management Inc. increased its position in Sysco Corporation by 0.3% in the first quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 22,445 shares of the company’s stock valued at $1,165,000 after buying an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 78.48% of the company’s stock.
Shares of Sysco Corporation (NYSE SYY) opened at 52.68 on Thursday. Sysco Corporation has a 1-year low of $47.15 and a 1-year high of $57.07. The company’s 50 day moving average is $51.49 and its 200-day moving average is $52.71. The company has a market capitalization of $28.19 billion, a P/E ratio of 27.77 and a beta of 0.52.
Sysco Corporation (NYSE:SYY) last released its quarterly earnings data on Monday, May 8th. The company reported $0.51 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.51. The firm had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.14 billion. Sysco Corporation had a return on equity of 47.28% and a net margin of 1.93%. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.46 earnings per share. On average, equities research analysts forecast that Sysco Corporation will post $2.47 EPS for the current year.
The business also recently disclosed 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 2.51%. The ex-dividend date of this dividend is Thursday, October 5th. Sysco Corporation’s dividend payout ratio (DPR) is presently 69.47%.
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SYY has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Sysco Corporation from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a research report on Tuesday, May 9th. Loop Capital initiated coverage on shares of Sysco Corporation in a research report on Monday, May 15th. They set a “buy” rating and a $61.00 target price on the stock. Wells Fargo & Company reiterated a “buy” rating on shares of Sysco Corporation in a research report on Friday, June 23rd. Bank of America Corporation reiterated a “buy” rating and set a $61.00 target price on shares of Sysco Corporation in a research report on Monday, June 26th. Finally, BMO Capital Markets restated a “buy” rating and issued a $60.00 price target on shares of Sysco Corporation in a research report on Tuesday, June 27th. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $56.02.
In other news, insider Wayne Shurts sold 15,600 shares of the stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $55.32, for a total transaction of $862,992.00. Following the completion of the sale, the insider now owns 58,776 shares of the company’s stock, valued at $3,251,488.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO William J. Delaney III sold 30,000 shares of the firm’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $54.22, for a total value of $1,626,600.00. Following the completion of the sale, the chief executive officer now directly owns 406,725 shares of the company’s stock, valued at approximately $22,052,629.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 152,400 shares of company stock valued at $8,121,300. Insiders own 8.81% of the company’s stock.
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.
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