Boys Arnold & Co. Inc. held its stake in Sysco Corporation (NYSE:SYY) during the third quarter, Holdings Channel reports. The fund owned 14,000 shares of the company’s stock at the end of the third quarter. Boys Arnold & Co. Inc.’s holdings in Sysco Corporation were worth $686,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the stock. Tuttle Tactical Management LLC bought a new stake in Sysco Corporation during the second quarter valued at $126,000. Blue Chip Partners Inc. boosted its stake in shares of Sysco Corporation by 0.7% in the second quarter. Blue Chip Partners Inc. now owns 2,894 shares of the company’s stock valued at $147,000 after buying an additional 19 shares in the last quarter. Farmers National Bank acquired a new stake in shares of Sysco Corporation during the second quarter valued at approximately $157,000. Cypress Capital Management LLC WY acquired a new stake in shares of Sysco Corporation during the second quarter valued at approximately $162,000. Finally, Oakworth Capital Inc. boosted its stake in shares of Sysco Corporation by 0.9% in the third quarter. Oakworth Capital Inc. now owns 3,888 shares of the company’s stock valued at $191,000 after buying an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 78.19% of the company’s stock.
Shares of Sysco Corporation (NYSE:SYY) opened at 53.52 on Wednesday. The stock has a 50 day moving average of $55.23 and a 200-day moving average of $52.00. Sysco Corporation has a 12 month low of $39.07 and a 12 month high of $57.07. The company has a market cap of $29.27 billion, a price-to-earnings ratio of 29.60 and a beta of 0.54.
Sysco Corporation (NYSE:SYY) last released its earnings results on Monday, November 7th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.09. The business earned $14 billion during the quarter, compared to the consensus estimate of $13.88 billion. Sysco Corporation had a net margin of 1.99% and a return on equity of 35.49%. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.52 EPS. On average, analysts forecast that Sysco Corporation will post $2.45 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 27th. Shareholders of record on Friday, January 6th will be issued a dividend of $0.33 per share. This is a positive change from Sysco Corporation’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Wednesday, January 4th. This represents a $1.32 annualized dividend and a yield of 2.47%. Sysco Corporation’s dividend payout ratio (DPR) is presently 72.53%.
SYY has been the subject of several analyst reports. Bank of America Corporation upgraded shares of Sysco Corporation from a “neutral” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Tuesday, November 8th. Jefferies Group LLC reiterated a “hold” rating and set a $50.00 price target on shares of Sysco Corporation in a research report on Friday, September 30th. Barclays PLC upgraded shares of Sysco Corporation from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $48.00 to $53.00 in a research report on Wednesday, November 9th. They noted that the move was a valuation call. BMO Capital Markets set a $56.00 price target on shares of Sysco Corporation and gave the stock a “hold” rating in a research report on Wednesday, November 9th. Finally, Goldman Sachs Group, Inc. (The) upgraded shares of Sysco Corporation from a “sell” rating to a “neutral” rating and set a $53.00 price target for the company in a research report on Friday, December 9th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company. Sysco Corporation has an average rating of “Hold” and a consensus target price of $53.02.
In other news, SVP Greg D. Bertrand sold 16,500 shares of Sysco Corporation 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William J. Delaney III sold 30,000 shares of Sysco Corporation stock in a transaction on Wednesday, January 18th. The shares were sold at an average price of $54.96, for a total transaction of $1,648,800.00. Following the completion of the sale, the chief executive officer now owns 406,725 shares of the company’s stock, valued at approximately $22,353,606. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 298,315 shares of company stock valued at $15,871,364. 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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