Farmhouse Investment Management LLC acquired a new stake in Sysco Corporation (NYSE:SYY) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 133,050 shares of the company’s stock, valued at approximately $7,034,000. Sysco Corporation makes up about 3.5% of Farmhouse Investment Management LLC’s portfolio, making the stock its 14th largest position.
A number of other large investors also recently modified their holdings of SYY. Iowa State Bank boosted its stake in shares of Sysco Corporation by 0.7% in the first quarter. Iowa State Bank now owns 91,709 shares of the company’s stock valued at $4,762,000 after buying an additional 596 shares during the last quarter. Tompkins Financial Corp boosted its stake in shares of Sysco Corporation by 1,379.0% in the first quarter. Tompkins Financial Corp now owns 52,622 shares of the company’s stock valued at $2,458,000 after buying an additional 49,064 shares during the last quarter. BKD Wealth Advisors LLC boosted its stake in shares of Sysco Corporation by 10.4% in the first quarter. BKD Wealth Advisors LLC now owns 47,746 shares of the company’s stock valued at $2,479,000 after buying an additional 4,494 shares during the last quarter. North American Management Corp boosted its stake in shares of Sysco Corporation by 2.0% in the first quarter. North American Management Corp now owns 97,939 shares of the company’s stock valued at $5,085,000 after buying an additional 1,943 shares during the last quarter. Finally, Stokes & Hubbell Capital Management LLC boosted its stake in shares of Sysco Corporation by 1.2% in the first quarter. Stokes & Hubbell Capital Management LLC now owns 26,663 shares of the company’s stock valued at $1,384,000 after buying an additional 321 shares during the last quarter. 78.38% of the stock is currently owned by institutional investors.
Shares of Sysco Corporation (SYY) traded up 0.31% on Monday, hitting $52.49. The company’s stock had a trading volume of 332,007 shares. The stock has a 50-day moving average price of $51.49 and a 200 day moving average price of $52.71. Sysco Corporation has a one year low of $47.15 and a one year high of $57.07. The firm has a market cap of $28.09 billion, a price-to-earnings ratio of 27.67 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. Equities research analysts predict that Sysco Corporation will post $2.47 EPS 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. The ex-dividend date is Thursday, October 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.52%. Sysco Corporation’s dividend payout ratio is currently 69.47%.
ILLEGAL ACTIVITY WARNING: This piece of content was originally posted by StockNewsTimes and is owned by of StockNewsTimes. If you are accessing this piece of content on another domain, it was illegally copied and republished in violation of U.S. and international trademark & copyright law. The legal version of this piece of content can be viewed at https://stocknewstimes.com/2017/08/07/farmhouse-investment-management-llc-invests-7-03-million-in-sysco-corporation-syy.html.
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 investment 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 target price 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.
Receive News & Ratings for Sysco Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sysco Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
