Sysco Corporation (SYY) Shares Sold by Commerce Bank
Commerce Bank lowered its stake in shares of Sysco Corporation (NYSE:SYY) by 1.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 83,972 shares of the company’s stock after selling 992 shares during the quarter. Commerce Bank’s holdings in Sysco Corporation were worth $4,530,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Putnam FL Investment Management Co. acquired a new position in shares of Sysco Corporation during the 3rd quarter valued at about $229,000. Cambridge Investment Research Advisors Inc. increased its stake in shares of Sysco Corporation by 2.9% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 61,621 shares of the company’s stock valued at $3,324,000 after acquiring an additional 1,754 shares during the last quarter. Allen Investment Management LLC increased its stake in shares of Sysco Corporation by 73.5% during the 3rd quarter. Allen Investment Management LLC now owns 99,213 shares of the company’s stock valued at $5,353,000 after acquiring an additional 42,031 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Sysco Corporation by 5.3% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 124,394 shares of the company’s stock valued at $6,711,000 after acquiring an additional 6,240 shares during the last quarter. Finally, Signature Estate & Investment Advisors LLC increased its position in Sysco Corporation by 4.0% during the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 295,003 shares of the company’s stock worth $15,915,000 after purchasing an additional 11,361 shares in the last quarter. 80.30% of the stock is owned by institutional investors.
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In other news, CEO William J. Delaney III sold 30,000 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The stock was 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Wayne Shurts sold 7,800 shares of the stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $54.86, for a total value of $427,908.00. Following the transaction, the executive vice president now owns 58,776 shares of the company’s stock, valued at $3,224,451.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,275,781 shares of company stock valued at $122,319,128. Company insiders own 9.60% of the company’s stock.
Sysco Corporation (NYSE SYY) traded up $0.33 during midday trading on Friday, reaching $54.87. The company’s stock had a trading volume of 767,199 shares, compared to its average volume of 2,270,000. The stock has a market cap of $28,590.00, a PE ratio of 21.22, a PEG ratio of 2.43 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 released its earnings results on Monday, November 6th. The company reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.02. The company had revenue of $14.65 billion during the quarter, compared to analysts’ expectations of $14.43 billion. Sysco Corporation had a return on equity of 58.47% and a net margin of 2.12%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.67 EPS. equities analysts anticipate that Sysco Corporation will post 2.77 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Friday, January 5th will be paid a dividend of $0.36 per share. This is a boost from Sysco Corporation’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a dividend yield of 2.62%. Sysco Corporation’s dividend payout ratio is 60.27%.
A number of analysts recently issued reports on SYY shares. Zacks Investment Research raised shares of Sysco Corporation from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research report on Friday, July 21st. BMO Capital Markets set a $60.00 target price on shares of Sysco Corporation and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Jefferies Group LLC reissued a “hold” rating and set a $51.00 target price on shares of Sysco Corporation in a research report on Friday, August 4th. 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. Finally, Pivotal Research set a $53.00 target price on shares of Sysco Corporation and gave the stock a “hold” rating in a research report on Sunday, August 13th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $56.42.
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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