Teza Capital Management LLC purchased a new stake in shares of Sysco Corporation (NYSE:SYY) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,942 shares of the company’s stock, valued at approximately $309,000.
Other institutional investors have also recently added to or reduced their stakes in the company. North Star Investment Management Corp. increased its position in Sysco Corporation by 81.2% in the first quarter. North Star Investment Management Corp. now owns 1,944 shares of the company’s stock valued at $101,000 after buying an additional 871 shares during the last quarter. Johnson Financial Group Inc. increased its position in Sysco Corporation by 49.5% in the fourth quarter. Johnson Financial Group Inc. now owns 2,100 shares of the company’s stock valued at $116,000 after buying an additional 695 shares during the last quarter. Howe & Rusling Inc. increased its position in Sysco Corporation by 81.1% in the first quarter. Howe & Rusling Inc. now owns 2,595 shares of the company’s stock valued at $135,000 after buying an additional 1,162 shares during the last quarter. Kistler Tiffany Companies LLC increased its position in Sysco Corporation by 0.4% in the first quarter. Kistler Tiffany Companies LLC now owns 2,903 shares of the company’s stock valued at $151,000 after buying an additional 13 shares during the last quarter. Finally, Massey Quick & Co. LLC bought a new position in Sysco Corporation during the fourth quarter valued at $157,000. 78.91% of the stock is owned by hedge funds and other institutional investors.
Sysco Corporation (SYY) opened at 54.38 on Friday. Sysco Corporation has a 12 month low of $47.15 and a 12 month high of $57.07. The stock’s 50 day moving average price is $54.57 and its 200 day moving average price is $53.66. The firm has a market capitalization of $29.10 billion, a P/E ratio of 28.67 and a beta of 0.53.
Sysco Corporation (NYSE:SYY) last announced its earnings results on Monday, May 8th. The company reported $0.51 EPS for the quarter, hitting the consensus estimate of $0.51. The business had revenue of $13.52 billion during the quarter, compared to the consensus estimate of $13.14 billion. Sysco Corporation had a net margin of 1.93% and a return on equity of 47.28%. Sysco Corporation’s revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.46 EPS. On average, analysts forecast that Sysco Corporation will post $2.47 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 28th. Shareholders of record on Friday, July 7th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Wednesday, July 5th. Sysco Corporation’s dividend payout ratio is currently 69.47%.
A number of equities research analysts have recently commented on the company. BidaskClub downgraded Sysco Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 9th. Zacks Investment Research cut Sysco Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, May 10th. Barclays PLC reiterated an “equal weight” rating and issued a $57.00 target price (up previously from $53.00) on shares of Sysco Corporation in a report on Tuesday, May 9th. Royal Bank Of Canada lifted their target price on Sysco Corporation from $48.00 to $50.00 and gave the company a “sector perform” rating in a report on Tuesday, May 9th. Finally, Jefferies Group LLC restated a “hold” rating and set a $51.00 price objective (up previously from $50.00) on shares of Sysco Corporation in a research note on Monday, May 8th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. Sysco Corporation presently has a consensus rating of “Hold” and a consensus price target of $56.30.
In other Sysco Corporation news, CEO William J. Delaney III sold 30,000 shares of the business’s stock in a transaction dated Wednesday, April 12th. The shares were sold at an average price of $51.96, for a total value of $1,558,800.00. Following the completion of the sale, the chief executive officer now owns 406,725 shares of the company’s stock, valued at approximately $21,133,431. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Wayne Shurts sold 15,600 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $55.32, for a total transaction of $862,992.00. Following the sale, the insider now directly owns 58,776 shares of the company’s stock, valued at approximately $3,251,488.32. The disclosure for this sale can be found here. Insiders sold a total of 144,600 shares of company stock valued at $7,798,428 in the last three months. 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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