Duncker Streett & Co. Inc. cut its position in shares of Sysco Corporation (NYSE:SYY) by 1.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 29,052 shares of the company’s stock after selling 500 shares during the period. Duncker Streett & Co. Inc.’s holdings in Sysco Corporation were worth $1,462,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of SYY. North Star Investment Management Corp. increased its stake in Sysco Corporation by 81.2% in the first quarter. North Star Investment Management Corp. now owns 1,944 shares of the company’s stock worth $101,000 after buying an additional 871 shares during the period. TrimTabs Asset Management LLC increased its stake in Sysco Corporation by 88.7% in the first quarter. TrimTabs Asset Management LLC now owns 2,162 shares of the company’s stock worth $112,000 after buying an additional 1,016 shares during the period. Howe & Rusling Inc. increased its stake in Sysco Corporation by 81.1% in the first quarter. Howe & Rusling Inc. now owns 2,595 shares of the company’s stock worth $135,000 after buying an additional 1,162 shares during the period. Kistler Tiffany Companies LLC increased its stake in Sysco Corporation by 0.4% in the first quarter. Kistler Tiffany Companies LLC now owns 2,903 shares of the company’s stock worth $151,000 after buying an additional 13 shares during the period. Finally, Blue Chip Partners Inc. increased its stake in Sysco Corporation by 0.6% in the first quarter. Blue Chip Partners Inc. now owns 2,949 shares of the company’s stock worth $153,000 after buying an additional 19 shares during the period. Hedge funds and other institutional investors own 78.38% of the company’s stock.
Sysco Corporation (NYSE:SYY) traded down 1.085% during trading on Wednesday, hitting $51.515. The stock had a trading volume of 1,397,367 shares. The stock has a market cap of $27.57 billion, a PE ratio of 27.156 and a beta of 0.52. Sysco Corporation has a 1-year low of $47.15 and a 1-year high of $57.07. The firm’s 50-day moving average price is $51.23 and its 200-day moving average price is $52.70.
Sysco Corporation (NYSE:SYY) last issued its quarterly earnings results on Monday, May 8th. The company reported $0.51 earnings per share (EPS) 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 firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period last year, the company posted $0.46 EPS. On average, equities research analysts predict that Sysco Corporation will post $2.47 earnings per share for the current fiscal 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 annualized dividend and a dividend yield of 2.53%. The ex-dividend date is Thursday, October 5th. Sysco Corporation’s dividend payout ratio is presently 69.47%.
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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 price target on the stock in a research note on Tuesday, May 9th. Loop Capital initiated coverage on Sysco Corporation in a research note on Monday, May 15th. They issued a “buy” rating and a $61.00 price target on the stock. Wells Fargo & Company restated a “buy” rating on shares of Sysco Corporation in a research note on Friday, June 23rd. Bank of America Corporation restated a “buy” rating and issued a $61.00 price target on shares of Sysco Corporation in a research note 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 note on Tuesday, June 27th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company 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 firm’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $54.22, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Wayne Shurts sold 7,800 shares of the firm’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $55.30, for a total value of $431,340.00. Following the sale, the executive vice president now directly owns 58,776 shares of the company’s stock, valued at $3,250,312.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 152,400 shares of company stock valued at $8,121,300. Corporate 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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