Girard Partners LTD. Takes $218,000 Position in Sysco Corporation (SYY)
Girard Partners LTD. purchased a new stake in Sysco Corporation (NYSE:SYY) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,042 shares of the company’s stock, valued at approximately $218,000.
Several other hedge funds have also added to or reduced their stakes in the company. Kistler Tiffany Companies LLC grew its position in shares of Sysco Corporation by 0.4% in the second 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. Schnieders Capital Management LLC grew its position in shares of Sysco Corporation by 0.4% in the second quarter. Schnieders Capital Management LLC now owns 4,070 shares of the company’s stock valued at $205,000 after purchasing an additional 18 shares during the last quarter. Blue Chip Partners Inc. boosted its position in Sysco Corporation by 0.6% during the second quarter. Blue Chip Partners Inc. now owns 2,967 shares of the company’s stock worth $149,000 after acquiring an additional 18 shares during the last quarter. Northwest Quadrant Wealth Management LLC boosted its position in Sysco Corporation by 0.6% during the second quarter. Northwest Quadrant Wealth Management LLC now owns 5,169 shares of the company’s stock worth $269,000 after acquiring an additional 29 shares during the last quarter. Finally, Keel Point LLC boosted its position in Sysco Corporation by 0.8% during the second quarter. Keel Point LLC now owns 5,782 shares of the company’s stock worth $291,000 after acquiring an additional 47 shares during the last quarter. Institutional investors and hedge funds own 79.70% of the company’s stock.
Shares of Sysco Corporation (NYSE SYY) traded up $0.08 on Tuesday, hitting $54.97. 1,737,400 shares of the company’s stock were exchanged, compared to its average volume of 2,912,009. The firm has a market cap of $28,600.00, a price-to-earnings ratio of 21.52, a PEG ratio of 2.46 and a beta of 0.53. Sysco Corporation has a 52 week low of $48.85 and a 52 week high of $57.23. The company has a debt-to-equity ratio of 3.77, a quick ratio of 0.88 and a current ratio of 1.40.
Sysco Corporation (NYSE:SYY) last announced its quarterly earnings results on Monday, November 6th. The company reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.02. The company had revenue of $14.65 billion for the quarter, compared to analyst estimates of $14.43 billion. Sysco Corporation had a net margin of 2.12% and a return on equity of 58.47%. Sysco Corporation’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the business earned $0.67 EPS. equities research analysts anticipate that Sysco Corporation will post 2.77 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, January 5th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Thursday, January 4th. This is a positive change from Sysco Corporation’s previous quarterly dividend of $0.33. Sysco Corporation’s dividend payout ratio (DPR) is 60.27%.
A number of analysts recently issued reports on SYY shares. Jefferies Group LLC restated a “hold” rating and set a $51.00 target price on shares of Sysco Corporation in a research report on Friday, August 4th. Pivotal Research restated a “hold” rating and set a $53.00 target price on shares of Sysco Corporation in a research report on Sunday, November 5th. Royal Bank Of Canada set a $50.00 target price on shares of Sysco Corporation and gave the stock a “hold” rating in a research report on Friday, August 11th. Zacks Investment Research lowered shares of Sysco Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Finally, BMO Capital Markets restated an “outperform” rating on shares of Sysco Corporation in a research report on Tuesday, September 12th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $56.42.
In other Sysco Corporation news, Director Trian Fund Management, L.P. bought 889,561 shares of the business’s stock in a transaction dated Tuesday, September 19th. The shares were acquired at an average price of $53.68 per share, with a total value of $47,751,634.48. Following the purchase, the director now owns 5,529 shares in the company, valued at approximately $296,796.72. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO William J. Delaney III sold 30,000 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $51.31, for a total transaction of $1,539,300.00. Following the completion of the transaction, the chief executive officer now directly owns 406,725 shares in the company, valued at approximately $20,869,059.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,275,781 shares of company stock worth $122,319,128. 9.60% of the stock is owned by company insiders.
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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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