Mercer Capital Advisers Inc. Has $339,000 Position in Sysco Corporation (SYY)
Mercer Capital Advisers Inc. continued to hold its stake in Sysco Corporation (NYSE:SYY) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,733 shares of the company’s stock at the end of the second quarter. Mercer Capital Advisers Inc.’s holdings in Sysco Corporation were worth $339,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the stock. Kistler Tiffany Companies LLC increased its stake in 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 buying an additional 12 shares during the last quarter. Buckingham Asset Management LLC increased its position in Sysco Corporation by 0.3% in the first quarter. Buckingham Asset Management LLC now owns 5,904 shares of the company’s stock worth $307,000 after buying an additional 16 shares in the last quarter. Schnieders Capital Management LLC increased its position in Sysco Corporation by 0.4% in the second quarter. Schnieders Capital Management LLC now owns 4,070 shares of the company’s stock worth $205,000 after buying an additional 18 shares in the last quarter. Blue Chip Partners Inc. increased its position 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 in the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in Sysco Corporation by 1.2% in the first quarter. Sequoia Financial Advisors LLC now owns 4,198 shares of the company’s stock worth $218,000 after buying an additional 50 shares in the last quarter. 78.84% of the stock is owned by institutional investors and hedge funds.
Shares of Sysco Corporation (NYSE SYY) opened at 52.71 on Thursday. The stock’s 50 day moving average price is $51.35 and its 200-day moving average price is $52.53. The company has a market capitalization of $27.94 billion, a PE ratio of 25.34 and a beta of 0.52. Sysco Corporation has a 1-year low of $47.15 and a 1-year high of $57.07.
Sysco Corporation (NYSE:SYY) last posted its quarterly earnings results on Monday, August 14th. The company reported $0.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 return on equity of 53.25% and a net margin of 2.06%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.64 EPS. On average, equities analysts predict that Sysco Corporation will post $2.76 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 6th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.32 annualized dividend and a yield of 2.50%. Sysco Corporation’s payout ratio is presently 63.16%.
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A number of equities analysts have issued reports on SYY shares. Zacks Investment Research raised shares of Sysco Corporation from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a report on Tuesday, May 9th. Loop Capital started coverage on shares of Sysco Corporation in a report on Monday, May 15th. They set a “buy” rating and a $61.00 price objective on the stock. BMO Capital Markets reaffirmed a “buy” rating and set a $60.00 price objective on shares of Sysco Corporation in a report on Tuesday, June 27th. Bank of America Corporation reaffirmed a “buy” rating and set a $61.00 price objective on shares of Sysco Corporation in a report on Monday, June 26th. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of Sysco Corporation in a report on Friday, June 23rd. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $55.71.
In other Sysco Corporation news, EVP Wayne Shurts sold 7,800 shares of the business’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $55.30, for a total transaction of $431,340.00. Following the sale, the executive vice president now owns 58,776 shares in the company, valued at approximately $3,250,312.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William J. Delaney III sold 30,000 shares of the business’s stock in a transaction dated 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 owns 406,725 shares in the company, valued at approximately $22,593,573.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 160,200 shares of company stock worth $8,397,012. Company insiders own 8.81% of the company’s stock.
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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