Ffcm LLC Acquires 2,088 Shares of Sysco Corporation (SYY)
Ffcm LLC increased its holdings in Sysco Corporation (NYSE:SYY) by 7.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,762 shares of the company’s stock after buying an additional 2,088 shares during the period. Ffcm LLC’s holdings in Sysco Corporation were worth $1,599,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. TrimTabs Asset Management LLC raised its stake in Sysco Corporation by 88.7% in the 1st quarter. TrimTabs Asset Management LLC now owns 2,162 shares of the company’s stock valued at $112,000 after purchasing an additional 1,016 shares during the last quarter. Arcadia Investment Management Corp MI raised its stake in Sysco Corporation by 10.7% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 2,336 shares of the company’s stock valued at $118,000 after purchasing an additional 225 shares during the last quarter. Kistler Tiffany Companies LLC raised its stake in Sysco Corporation by 0.4% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,915 shares of the company’s stock valued at $147,000 after purchasing an additional 12 shares during the last quarter. Blue Chip Partners Inc. raised its stake in Sysco Corporation by 0.6% in the 2nd quarter. Blue Chip Partners Inc. now owns 2,967 shares of the company’s stock valued at $149,000 after purchasing an additional 18 shares during the last quarter. Finally, AT Bancorp acquired a new position in Sysco Corporation in the 2nd quarter valued at about $154,000. Institutional investors and hedge funds own 79.91% of the company’s stock.
Several brokerages recently weighed in on SYY. BMO Capital Markets reissued an “outperform” rating on shares of Sysco Corporation in a research note on Tuesday, September 12th. Zacks Investment Research downgraded shares of Sysco Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Wells Fargo & Company reissued a “buy” rating on shares of Sysco Corporation in a research note on Monday, August 14th. Pivotal Research set a $53.00 target price on shares of Sysco Corporation and gave the company a “hold” rating in a research note on Sunday, August 13th. Finally, Royal Bank Of Canada set a $50.00 target price on shares of Sysco Corporation and gave the company a “hold” rating in a research note on Friday, August 11th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $56.17.
In other Sysco Corporation news, EVP Wayne Shurts sold 7,800 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $50.82, for a total transaction of $396,396.00. Following the completion of the sale, the executive vice president now directly owns 58,776 shares in the company, valued at approximately $2,986,996.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William J. Delaney III sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $54.24, for a total value of $10,848,000.00. Following the sale, the chief executive officer now owns 576,725 shares of the company’s stock, valued at $31,281,564. The disclosure for this sale can be found here. Insiders have sold a total of 1,724,714 shares of company stock valued at $92,456,142 over the last 90 days. Corporate insiders own 8.81% of the company’s stock.
Sysco Corporation (SYY) opened at 53.37 on Monday. Sysco Corporation has a 1-year low of $47.15 and a 1-year high of $57.07. The stock’s 50 day moving average is $52.31 and its 200-day moving average is $52.57. The firm has a market cap of $28.17 billion, a P/E ratio of 25.66 and a beta of 0.52.
Sysco Corporation (NYSE:SYY) last announced its quarterly earnings data on Monday, August 14th. The company reported $0.72 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.01. Sysco Corporation had a return on equity of 53.25% and a net margin of 2.06%. The firm had revenue of $14.40 billion during the quarter, compared to analyst estimates of $14.35 billion. During the same period last year, the company posted $0.64 EPS. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. Analysts forecast that Sysco Corporation will post $2.76 EPS for the current year.
The firm also recently disclosed 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 dividend on an annualized basis and a yield of 2.47%. Sysco Corporation’s payout ratio is presently 63.16%.
Sysco Corporation 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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