Savant Capital LLC lowered its position in shares of Sysco Corp. (NYSE:SYY) by 2.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,019 shares of the company’s stock after selling 176 shares during the period. Savant Capital LLC’s holdings in Sysco Corp. were worth $305,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the stock. Trian Fund Management L.P. boosted its stake in Sysco Corp. by 1.4% in the first quarter. Trian Fund Management L.P. now owns 43,271,951 shares of the company’s stock worth $2,022,098,000 after buying an additional 586,344 shares during the period. State Street Corp boosted its stake in Sysco Corp. by 1.3% in the first quarter. State Street Corp now owns 28,069,492 shares of the company’s stock worth $1,311,676,000 after buying an additional 350,534 shares during the period. Geode Capital Management LLC boosted its stake in Sysco Corp. by 4.2% in the first quarter. Geode Capital Management LLC now owns 4,460,283 shares of the company’s stock worth $208,020,000 after buying an additional 181,435 shares during the period. Acadian Asset Management LLC boosted its stake in Sysco Corp. by 0.8% in the second quarter. Acadian Asset Management LLC now owns 2,205,904 shares of the company’s stock worth $111,925,000 after buying an additional 18,096 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its stake in Sysco Corp. by 31.1% in the first quarter. UBS Asset Management Americas Inc. now owns 2,177,500 shares of the company’s stock worth $101,756,000 after buying an additional 516,711 shares during the period. Institutional investors own 76.65% of the company’s stock.
Sysco Corp. (NYSE:SYY) traded down 0.43% during mid-day trading on Friday, hitting $48.07. 2,858,730 shares of the stock traded hands. Sysco Corp. has a 52 week low of $38.84 and a 52 week high of $53.97. The firm has a market cap of $26.69 billion, a P/E ratio of 29.31 and a beta of 0.51. The firm’s 50-day moving average price is $50.65 and its 200-day moving average price is $49.63.
Sysco Corp. (NYSE:SYY) last released its quarterly earnings data on Monday, August 15th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.03. The company had revenue of $13.65 billion for the quarter, compared to analyst estimates of $13.68 billion. Sysco Corp. had a net margin of 1.89% and a return on equity of 28.67%. Sysco Corp.’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 EPS. On average, equities analysts forecast that Sysco Corp. will post $2.31 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 7th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.24 annualized dividend and a dividend yield of 2.58%. Sysco Corp.’s dividend payout ratio is presently 75.15%.
A number of equities research analysts have issued reports on SYY shares. Barclays PLC started coverage on shares of Sysco Corp. in a report on Friday, September 23rd. They set an “underweight” rating and a $48.00 price target for the company. Jefferies Group restated a “hold” rating and set a $50.00 price target on shares of Sysco Corp. in a report on Friday, September 30th. Argus increased their target price on shares of Sysco Corp. from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, August 19th. Bank of America Corp. set a $54.00 target price on shares of Sysco Corp. and gave the company a “hold” rating in a research note on Saturday, September 17th. Finally, Deutsche Bank AG started coverage on shares of Sysco Corp. in a research note on Monday, July 18th. They issued a “hold” rating and a $52.00 target price for the company. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $50.45.
In related news, CFO Joel T. Grade sold 16,368 shares of Sysco Corp. stock in a transaction dated Wednesday, July 13th. The shares were sold at an average price of $52.01, for a total transaction of $851,299.68. Following the completion of the sale, the chief financial officer now owns 60,031 shares of the company’s stock, valued at approximately $3,122,212.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider William B. Day sold 75,000 shares of Sysco Corp. stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $51.53, for a total transaction of $3,864,750.00. Following the sale, the insider now directly owns 201,283 shares of the company’s stock, valued at approximately $10,372,112.99. The disclosure for this sale can be found here. Insiders own 7.77% of the company’s stock.
Sysco Corp. Company Profile
Sysco Corporation (Sysco) along with its subsidiaries and divisions, is a North American distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company provides products and related services to approximately 425,000 customers, including restaurants, healthcare and educational facilities, lodging establishments and other foodservice customers.