Ifrah Financial Services Inc. Trims Holdings in Sysco Corporation (SYY)

Ifrah Financial Services Inc. cut its holdings in shares of Sysco Corporation (NYSE:SYY) by 0.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,251 shares of the company’s stock after selling 75 shares during the quarter. Ifrah Financial Services Inc.’s holdings in Sysco Corporation were worth $466,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SYY. BlackRock Inc. lifted its holdings in Sysco Corporation by 2,088.2% during the 1st quarter. BlackRock Inc. now owns 32,207,618 shares of the company’s stock worth $1,672,219,000 after buying an additional 30,735,711 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Sysco Corporation by 86.7% during the 1st quarter. Victory Capital Management Inc. now owns 2,426,247 shares of the company’s stock worth $125,971,000 after buying an additional 1,126,573 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Sysco Corporation by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 37,910,943 shares of the company’s stock worth $1,968,336,000 after buying an additional 1,064,162 shares in the last quarter. Bank of America Corp DE lifted its holdings in Sysco Corporation by 18.3% during the 1st quarter. Bank of America Corp DE now owns 4,745,874 shares of the company’s stock worth $246,405,000 after buying an additional 733,433 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in Sysco Corporation by 21.1% during the 1st quarter. American Century Companies Inc. now owns 3,424,940 shares of the company’s stock worth $177,823,000 after buying an additional 596,224 shares in the last quarter. Institutional investors own 79.97% of the company’s stock.

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Sysco Corporation (SYY) opened at 53.66 on Friday. Sysco Corporation has a 52-week low of $47.15 and a 52-week high of $57.07. The stock has a market capitalization of $28.33 billion, a P/E 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 posted its quarterly earnings results on Monday, August 14th. The company reported $0.72 earnings per share (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 analysts’ expectations of $14.35 billion. Sysco Corporation had a net margin of 2.06% and a return on equity of 53.25%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.64 earnings per share. Equities research analysts anticipate that Sysco Corporation will post $2.76 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 6th will be issued a $0.33 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.32 annualized dividend and a yield of 2.46%. Sysco Corporation’s dividend payout ratio is presently 63.16%.

In related news, EVP Wayne Shurts sold 7,800 shares of the company’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $50.82, for a total value of $396,396.00. Following the sale, the executive vice president now directly owns 58,776 shares of the company’s stock, valued at $2,986,996.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William J. Delaney III sold 30,000 shares of the company’s stock in a transaction 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 sold 524,714 shares of company stock worth $27,628,142 over the last ninety days. 8.81% of the stock is currently owned by corporate insiders.

A number of equities research analysts have recently weighed in on SYY shares. Zacks Investment Research lowered shares of Sysco Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Royal Bank Of Canada set a $50.00 price objective on shares of Sysco Corporation and gave the company a “hold” rating in a report on Friday, August 11th. Bank of America Corporation restated a “buy” rating and issued a $61.00 price objective on shares of Sysco Corporation in a report on Monday, June 26th. Wells Fargo & Company restated a “buy” rating on shares of Sysco Corporation in a report on Monday, August 14th. Finally, J P Morgan Chase & Co restated an “overweight” rating and issued a $57.00 price objective on shares of Sysco Corporation in a report on Friday, June 23rd. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $56.17.

Sysco Corporation 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.

Institutional Ownership by Quarter for Sysco Corporation (NYSE:SYY)

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