Bath Savings Trust Co Has $2.16 Million Position in Sysco Corporation (NYSE:SYY)
Bath Savings Trust Co decreased its position in shares of Sysco Corporation (NYSE:SYY) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 42,840 shares of the company’s stock after selling 75 shares during the period. Bath Savings Trust Co’s holdings in Sysco Corporation were worth $2,156,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of SYY. Capital Investment Advisors LLC raised its position in Sysco Corporation by 10.4% in the first quarter. Capital Investment Advisors LLC now owns 69,536 shares of the company’s stock worth $3,610,000 after buying an additional 6,525 shares during the last quarter. Somerset Trust Co increased its stake in Sysco Corporation by 1.9% in the first quarter. Somerset Trust Co now owns 28,042 shares of the company’s stock worth $1,456,000 after buying an additional 528 shares during the period. Reilly Financial Advisors LLC increased its stake in Sysco Corporation by 15.8% in the first quarter. Reilly Financial Advisors LLC now owns 27,466 shares of the company’s stock worth $1,426,000 after buying an additional 3,752 shares during the period. Affinity Wealth Management increased its stake in Sysco Corporation by 7.0% in the first quarter. Affinity Wealth Management now owns 11,175 shares of the company’s stock worth $580,000 after buying an additional 735 shares during the period. Finally, 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. 78.49% of the stock is owned by hedge funds and other institutional investors.
Sysco Corporation (NYSE SYY) traded down 1.71% during midday trading on Monday, hitting $50.70. 1,626,096 shares of the stock were exchanged. The company has a 50 day moving average price of $50.93 and a 200 day moving average price of $52.61. The firm has a market capitalization of $27.13 billion, a price-to-earnings ratio of 26.73 and a beta of 0.52. Sysco Corporation has a one year low of $47.15 and a one year high of $57.07.
Sysco Corporation (NYSE:SYY) last announced its quarterly earnings results on Monday, August 14th. The company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. The business had revenue of $14.40 billion for the quarter, compared to the consensus estimate of $14.35 billion. Sysco Corporation had a net margin of 1.93% and a return on equity of 47.28%. Sysco Corporation’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period last year, the company posted $0.64 EPS. Equities analysts anticipate 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. Investors of record on Friday, October 6th will be given a $0.33 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.56%. Sysco Corporation’s dividend payout ratio is 69.47%.
A number of analysts have commented on the stock. Zacks Investment Research downgraded shares of Sysco Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. BMO Capital Markets upgraded shares of Sysco Corporation from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $56.00 to $60.00 in a research report on Thursday, May 4th. Wells Fargo & Company restated a “buy” rating on shares of Sysco Corporation in a research report on Monday, July 17th. Jefferies Group LLC restated a “hold” rating and set a $51.00 price target (up from $50.00) on shares of Sysco Corporation in a research report on Monday, May 8th. Finally, BidaskClub downgraded shares of Sysco Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Sysco Corporation has a consensus rating of “Hold” and a consensus target price of $56.02.
In related news, CEO William J. Delaney III sold 30,000 shares of the stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $55.55, for a total value of $1,666,500.00. Following the sale, the chief executive officer now directly owns 406,725 shares in the company, valued at approximately $22,593,573.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Wayne Shurts sold 15,600 shares of the 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 $3,188,598. The disclosure for this sale can be found here. Insiders sold a total of 152,400 shares of company stock worth $8,121,300 over the last quarter. 8.81% of the stock is currently owned by corporate insiders.
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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