Sysco Corporation (SYY) Shares Sold by Bradley Foster & Sargent Inc. CT
Bradley Foster & Sargent Inc. CT lowered its holdings in shares of Sysco Corporation (NYSE:SYY) by 1.5% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 16,649 shares of the company’s stock after selling 251 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Sysco Corporation were worth $838,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of the stock. JPMorgan Chase & Co. grew its holdings in Sysco Corporation by 1.6% during the second quarter. JPMorgan Chase & Co. now owns 2,536,760 shares of the company’s stock worth $127,675,000 after purchasing an additional 38,936 shares during the period. Cannell Peter B & Co. Inc. grew its holdings in Sysco Corporation by 0.6% during the second quarter. Cannell Peter B & Co. Inc. now owns 98,538 shares of the company’s stock worth $4,959,000 after purchasing an additional 600 shares during the period. Burney Co. grew its holdings in Sysco Corporation by 1.4% during the second quarter. Burney Co. now owns 16,687 shares of the company’s stock worth $832,000 after purchasing an additional 229 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in Sysco Corporation by 38.5% during the second quarter. Oppenheimer Asset Management Inc. now owns 26,221 shares of the company’s stock worth $1,319,000 after purchasing an additional 7,294 shares during the period. Finally, Oppenheimer & Co. Inc. grew its holdings in Sysco Corporation by 2.4% during the second quarter. Oppenheimer & Co. Inc. now owns 32,481 shares of the company’s stock worth $1,634,000 after purchasing an additional 759 shares during the period. Institutional investors and hedge funds own 79.91% of the company’s stock.
Shares of Sysco Corporation (SYY) opened at 53.37 on Friday. The company has a market cap of $28.17 billion, a PE ratio of 25.66 and a beta of 0.52. The stock’s 50 day moving average price is $52.31 and its 200-day moving average price is $52.57. Sysco Corporation has a one year low of $47.15 and a one year high of $57.07.
Sysco Corporation (NYSE:SYY) last released its earnings results on Monday, August 14th. The company reported $0.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.01. Sysco Corporation had a net margin of 2.06% and a return on equity of 53.25%. The firm had revenue of $14.40 billion during the quarter, compared to the consensus estimate of $14.35 billion. During the same period in the prior year, the firm earned $0.64 EPS. The company’s revenue was up 5.5% compared to the same quarter last year. On average, analysts expect that Sysco Corporation will post $2.76 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 6th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend is Thursday, October 5th. Sysco Corporation’s dividend payout ratio is currently 63.16%.
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A number of equities analysts recently commented on the company. Wells Fargo & Company reiterated a “buy” rating on shares of Sysco Corporation in a report on Friday, June 23rd. BidaskClub cut Sysco Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Jefferies Group LLC reiterated a “hold” rating and set a $51.00 price target on shares of Sysco Corporation in a report on Friday, August 4th. BMO Capital Markets set a $60.00 price target on Sysco Corporation and gave the stock a “buy” rating in a report on Thursday, August 3rd. Finally, Pivotal Research set a $53.00 price target on Sysco Corporation and gave the stock a “hold” rating in a report on Sunday, August 13th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $56.17.
In related news, CEO William J. Delaney III sold 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $54.24, for a total value of $10,848,000.00. Following the completion of the transaction, the chief executive officer now directly owns 576,725 shares of the company’s stock, valued at approximately $31,281,564. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Trian Fund Management, L.P. acquired 889,561 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The stock was acquired at an average cost of $53.68 per share, with a total value of $47,751,634.48. Following the completion of the acquisition, the director now owns 5,529 shares in the company, valued at approximately $296,796.72. The disclosure for this purchase 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 three months. Insiders own 8.81% of the company’s stock.
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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