Great Lakes Advisors LLC grew its holdings in shares of Sysco Corporation (NYSE:SYY) by 14.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 117,673 shares of the company’s stock after acquiring an additional 14,431 shares during the quarter. Great Lakes Advisors LLC’s holdings in Sysco Corporation were worth $5,922,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the business. Advisor Partners LLC increased its stake in shares of Sysco Corporation by 19.4% in the first quarter. Advisor Partners LLC now owns 10,989 shares of the company’s stock worth $571,000 after buying an additional 1,787 shares during the period. Advisory Services Network LLC purchased a new position in shares of Sysco Corporation in the first quarter worth $1,342,000. Cliftonlarsonallen Wealth Advisors LLC increased its stake in shares of Sysco Corporation by 6.9% in the first quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 15,597 shares of the company’s stock worth $810,000 after buying an additional 1,000 shares during the period. Great West Life Assurance Co. Can increased its stake in shares of Sysco Corporation by 4.3% in the first quarter. Great West Life Assurance Co. Can now owns 2,258,498 shares of the company’s stock worth $117,169,000 after buying an additional 93,465 shares during the period. Finally, Usca Ria LLC increased its stake in shares of Sysco Corporation by 0.8% in the first quarter. Usca Ria LLC now owns 12,500 shares of the company’s stock worth $649,000 after buying an additional 101 shares during the period. 79.97% of the stock is currently owned by hedge funds and other institutional investors.
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In other news, insider Wayne Shurts sold 15,600 shares of the firm’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $50.87, for a total transaction of $793,572.00. Following the transaction, the insider now owns 58,776 shares in the company, valued at $2,989,935.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William J. Delaney III sold 30,000 shares of the firm’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $49.92, for a total value of $1,497,600.00. Following the transaction, the chief executive officer now owns 406,725 shares in the company, valued at approximately $20,303,712. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 524,714 shares of company stock worth $27,628,142. Insiders own 8.81% of the company’s stock.
Several brokerages recently commented on SYY. Wells Fargo & Company reaffirmed a “buy” rating on shares of Sysco Corporation in a research note on Monday, August 14th. Zacks Investment Research downgraded shares of Sysco Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. BMO Capital Markets set a $60.00 target price on shares of Sysco Corporation and gave the stock a “buy” rating in a research note on Thursday, August 3rd. BidaskClub downgraded shares of Sysco Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. Finally, Bank of America Corporation reaffirmed a “buy” rating and issued a $61.00 target price on shares of Sysco Corporation in a research note on Monday, June 26th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $56.17.
Shares of Sysco Corporation (NYSE SYY) opened at 53.66 on Friday. Sysco Corporation has a 12-month low of $47.15 and a 12-month high of $57.07. The company has a market cap of $28.33 billion, a PE ratio of 25.80 and a beta of 0.52. The company has a 50-day moving average of $52.22 and a 200 day moving average of $52.56.
Sysco Corporation (NYSE:SYY) last announced its quarterly earnings results on Monday, August 14th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.71 by $0.01. The firm had revenue of $14.40 billion for the quarter, compared to analyst estimates of $14.35 billion. Sysco Corporation had a return on equity of 53.25% and a net margin of 2.06%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.64 earnings per share. On average, equities research analysts expect 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. Stockholders 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 dividend yield of 2.46%. Sysco Corporation’s dividend payout ratio is currently 63.16%.
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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