Godshalk Welsh Capital Management Inc. held its stake in shares of Sysco Corporation (NYSE:SYY) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,270 shares of the company’s stock at the end of the first quarter. Sysco Corporation accounts for approximately 1.6% of Godshalk Welsh Capital Management Inc.’s holdings, making the stock its 13th largest position. Godshalk Welsh Capital Management Inc.’s holdings in Sysco Corporation were worth $1,624,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in SYY. North Star Investment Management Corp. increased its stake in shares of Sysco Corporation by 81.2% in the first quarter. North Star Investment Management Corp. now owns 1,944 shares of the company’s stock valued at $101,000 after buying an additional 871 shares in the last quarter. TrimTabs Asset Management LLC increased its stake in shares of Sysco Corporation by 88.7% in the first quarter. TrimTabs Asset Management LLC now owns 2,162 shares of the company’s stock valued at $112,000 after buying an additional 1,016 shares in the last quarter. Howe & Rusling Inc. increased its stake in shares of Sysco Corporation by 81.1% in the first quarter. Howe & Rusling Inc. now owns 2,595 shares of the company’s stock valued at $135,000 after buying an additional 1,162 shares in the last quarter. Kistler Tiffany Companies LLC increased its stake in shares of 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 in the last quarter. Finally, Blue Chip Partners Inc. increased its stake in shares of 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 in the last quarter. 78.38% of the stock is currently owned by institutional investors.
Sysco Corporation (NYSE:SYY) opened at 52.33 on Monday. The stock has a market capitalization of $28.01 billion, a price-to-earnings ratio of 27.59 and a beta of 0.52. Sysco Corporation has a 52 week low of $47.15 and a 52 week high of $57.07. The company has a 50-day moving average of $51.49 and a 200-day moving average of $52.71.
Sysco Corporation (NYSE:SYY) last issued its earnings results on Monday, May 8th. The company reported $0.51 earnings per share for the quarter, hitting the consensus estimate of $0.51. Sysco Corporation had a net margin of 1.93% and a return on equity of 47.28%. The company had revenue of $13.52 billion for the quarter, compared to analyst estimates of $13.14 billion. During the same period in the prior year, the business posted $0.46 earnings per share. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. Analysts anticipate that Sysco Corporation will post $2.47 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 6th will be given a dividend of $0.33 per share. The ex-dividend date is Thursday, October 5th. This represents a $1.32 annualized dividend and a yield of 2.52%. Sysco Corporation’s payout ratio is currently 69.47%.
SYY has been the topic of a number of analyst reports. Zacks Investment Research upgraded 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 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 restated a “buy” rating on shares of Sysco Corporation in a research report on Friday, June 23rd. Bank of America Corporation restated 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 set a $60.00 target price 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 assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $56.02.
In other news, CEO William J. Delaney III sold 30,000 shares of the stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $49.92, for a total value of $1,497,600.00. Following the sale, the chief executive officer now directly owns 406,725 shares in the company, valued at $20,303,712. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Wayne Shurts sold 7,800 shares of the stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $55.30, for a total transaction of $431,340.00. Following the completion of the sale, the executive vice president now owns 58,776 shares in the company, valued at $3,250,312.80. The disclosure for this sale can be found here. Insiders have sold 152,400 shares of company stock worth $8,121,300 over the last 90 days. 8.81% of the stock is currently owned by company insiders.
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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