Trade Report: Today: PNC Financial Services Group Inc. Buys 3,942 Shares of Sysco Corp. (SYY)

Today: PNC Financial Services Group Inc. Buys 3,942 Shares of Sysco Corp. (SYY)

PNC Financial Services Group Inc. increased its position in Sysco Corp. (NYSE:SYY) by 0.5% during the third quarter, Holdings Channel reports. The fund owned 735,641 shares of the company’s stock after buying an additional 3,942 shares during the period. PNC Financial Services Group Inc. owned 0.13% of Sysco Corp. worth $36,052,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Kistler Tiffany Companies LLC increased its position in shares of Sysco Corp. by 0.5% in the second quarter. Kistler Tiffany Companies LLC now owns 2,866 shares of the company’s stock worth $145,000 after buying an additional 13 shares during the period. Blue Chip Partners Inc. increased its position in shares of Sysco Corp. by 0.7% in the second quarter. Blue Chip Partners Inc. now owns 2,894 shares of the company’s stock worth $147,000 after buying an additional 19 shares during the period. Segment Wealth Management LLC increased its position in shares of Sysco Corp. by 0.5% in the third quarter. Segment Wealth Management LLC now owns 5,047 shares of the company’s stock worth $247,000 after buying an additional 23 shares during the period. Oakworth Capital Inc. increased its position in shares of Sysco Corp. by 0.9% in the third quarter. Oakworth Capital Inc. now owns 3,888 shares of the company’s stock worth $191,000 after buying an additional 34 shares during the period. Finally, Hanson McClain Inc. increased its position in shares of Sysco Corp. by 1.1% in the second quarter. Hanson McClain Inc. now owns 4,244 shares of the company’s stock worth $215,000 after buying an additional 45 shares during the period. 77.33% of the stock is owned by institutional investors and hedge funds.

Shares of Sysco Corp. (NYSE:SYY) traded down 0.24% during trading on Monday, reaching $53.80. 1,205,715 shares of the company’s stock were exchanged. Sysco Corp. has a 12 month low of $38.84 and a 12 month high of $54.66. The firm has a market cap of $29.42 billion, a price-to-earnings ratio of 29.76 and a beta of 0.49. The stock has a 50-day moving average price of $50.19 and a 200 day moving average price of $50.43.

Sysco Corp. (NYSE:SYY) last announced its quarterly earnings data on Monday, November 7th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.09. The firm earned $14 billion during the quarter, compared to analysts’ expectations of $13.88 billion. Sysco Corp. had a return on equity of 35.49% and a net margin of 1.99%. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period last year, the business posted $0.52 earnings per share. On average, analysts forecast that Sysco Corp. will post $2.43 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 27th. Shareholders of record on Friday, January 6th will be issued a $0.33 dividend. This is a positive change from Sysco Corp.’s previous quarterly dividend of $0.31. This represents a $1.32 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend is Wednesday, January 4th. Sysco Corp.’s dividend payout ratio (DPR) is presently 68.13%.

Several analysts have weighed in on SYY shares. BMO Capital Markets set a $56.00 target price on shares of Sysco Corp. and gave the company a “hold” rating in a research report on Wednesday, November 9th. Barclays PLC raised shares of Sysco Corp. from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $48.00 to $53.00 in a report on Wednesday, November 9th. They noted that the move was a valuation call. Credit Suisse Group AG lowered shares of Sysco Corp. from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $59.00 to $55.00 in a report on Wednesday, November 16th. Bank of America Corp. raised shares of Sysco Corp. from a “neutral” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Tuesday, November 8th. Finally, Pivotal Research lifted their price target on shares of Sysco Corp. from $45.00 to $53.00 and gave the company a “hold” rating in a report on Tuesday, November 8th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. Sysco Corp. has a consensus rating of “Hold” and an average price target of $52.63.

In other Sysco Corp. news, CEO William J. Delaney III sold 20,114 shares of Sysco Corp. stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $49.51, for a total value of $995,844.14. Following the sale, the chief executive officer now owns 422,507 shares in the company, valued at $20,918,321.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Greg D. Bertrand sold 16,500 shares of Sysco Corp. stock in a transaction on Monday, November 7th. The shares were sold at an average price of $50.79, for a total value of $838,035.00. Following the completion of the sale, the senior vice president now owns 57,491 shares in the company, valued at approximately $2,919,967.89. The disclosure for this sale can be found here. 8.81% of the stock is owned by insiders.

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.

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