United Services Automobile Association lowered its position in shares of Sysco Corporation (NYSE:SYY) by 2.5% during the first quarter, according to its most recent filing with the SEC. The fund owned 163,151 shares of the company’s stock after selling 4,222 shares during the period. United Services Automobile Association’s holdings in Sysco Corporation were worth $8,471,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in SYY. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Sysco Corporation during the fourth quarter valued at $902,000. Kentucky Retirement Systems purchased a new position in Sysco Corporation during the fourth quarter valued at $2,022,000. Teachers Advisors LLC boosted its position in Sysco Corporation by 10.5% in the fourth quarter. Teachers Advisors LLC now owns 762,771 shares of the company’s stock valued at $42,235,000 after buying an additional 72,446 shares during the last quarter. Pegasus Partners Ltd. boosted its position in Sysco Corporation by 6.4% in the fourth quarter. Pegasus Partners Ltd. now owns 15,759 shares of the company’s stock valued at $873,000 after buying an additional 949 shares during the last quarter. Finally, Wealthfront Inc. bought a new position in Sysco Corporation during the fourth quarter valued at approximately $649,000. 78.56% of the stock is currently owned by institutional investors.
Shares of Sysco Corporation (SYY) traded up 0.279% during mid-day trading on Wednesday, reaching $52.115. 454,793 shares of the company’s stock traded hands. The firm has a 50 day moving average price of $51.97 and a 200-day moving average price of $52.83. Sysco Corporation has a 12 month low of $47.15 and a 12 month high of $57.07. The stock has a market cap of $27.89 billion, a PE ratio of 27.472 and a beta of 0.52.
Sysco Corporation (NYSE:SYY) last issued its earnings results on Monday, May 8th. The company reported $0.51 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.51. The firm had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.14 billion. Sysco Corporation had a net margin of 1.93% and a return on equity of 47.28%. The company’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the business earned $0.46 earnings per share. On average, analysts predict that Sysco Corporation will post $2.47 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 28th. Shareholders of record on Friday, July 7th will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, July 5th. This represents a $1.32 dividend on an annualized basis and a yield of 2.54%. Sysco Corporation’s dividend payout ratio is presently 69.47%.
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Several research firms have recently commented on SYY. Zacks Investment Research upgraded shares of Sysco Corporation from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Friday, July 21st. Wells Fargo & Company restated a “buy” rating on shares of Sysco Corporation in a report on Monday, July 17th. BMO Capital Markets restated a “buy” rating and set a $60.00 price target on shares of Sysco Corporation in a report on Tuesday, June 27th. Bank of America Corporation reiterated a “buy” rating and issued a $61.00 price objective on shares of Sysco Corporation in a report on Monday, June 26th. Finally, J P Morgan Chase & Co reiterated an “overweight” rating and issued a $57.00 price objective on shares of Sysco Corporation in a report on Friday, June 23rd. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Sysco Corporation presently has a consensus rating of “Hold” and an average target price of $56.02.
In other news, insider Wayne Shurts sold 15,600 shares of the stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $55.32, for a total value of $862,992.00. Following the sale, the insider now directly owns 58,776 shares of the company’s stock, valued at $3,251,488.32. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO William J. Delaney III sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $49.92, for a total transaction of $1,497,600.00. Following the completion of the sale, the chief executive officer now directly owns 406,725 shares in the company, valued at $20,303,712. The disclosure for this sale can be found here. Insiders have sold 152,400 shares of company stock valued at $8,121,300 in the last quarter. 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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