Diversified Investment Strategies LLC held its position in Sysco Corporation (NYSE:SYY) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,150 shares of the company’s stock at the close of the second quarter. Sysco Corporation comprises 2.3% of Diversified Investment Strategies LLC’s investment portfolio, making the stock its 16th biggest position. Diversified Investment Strategies LLC’s holdings in Sysco Corporation were worth $2,423,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also added to or reduced their stakes in the stock. Gratus Capital LLC bought a new position in Sysco Corporation during the second quarter worth about $1,770,000. Homrich & Berg increased its position in Sysco Corporation by 3.2% during the second quarter. Homrich & Berg now owns 11,103 shares of the company’s stock worth $559,000 after acquiring an additional 344 shares during the period. Allen Investment Management LLC increased its position in Sysco Corporation by 3.2% during the second quarter. Allen Investment Management LLC now owns 57,182 shares of the company’s stock worth $2,878,000 after acquiring an additional 1,791 shares during the period. Brighton Jones LLC bought a new position in Sysco Corporation during the second quarter worth about $232,000. Finally, Cambridge Investment Research Advisors Inc. increased its position in Sysco Corporation by 3.1% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 59,867 shares of the company’s stock worth $3,013,000 after acquiring an additional 1,797 shares during the period. 79.91% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO William J. Delaney III sold 400,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $53.91, for a total transaction of $21,564,000.00. Following the completion of the transaction, the chief executive officer now owns 576,725 shares in the company, valued at $31,091,244.75. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Trian Fund Management, L.P. bought 889,561 shares of the firm’s stock in a transaction that occurred on Tuesday, September 19th. The shares were acquired at an average price of $53.68 per share, with a total value of $47,751,634.48. Following the acquisition, the director now owns 5,529 shares of the company’s stock, valued at $296,796.72. The disclosure for this purchase can be found here. In the last three months, insiders have sold 1,124,714 shares of company stock valued at $59,944,142. Insiders own 8.81% of the company’s stock.
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Shares of Sysco Corporation (SYY) opened at 54.39 on Thursday. The stock has a 50 day moving average of $52.31 and a 200 day moving average of $52.57. Sysco Corporation has a 1-year low of $47.15 and a 1-year high of $57.07. The company has a market cap of $28.71 billion, a price-to-earnings ratio of 26.15 and a beta of 0.52.
Sysco Corporation (NYSE:SYY) last released its quarterly earnings data on Monday, August 14th. The company reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. The firm had revenue of $14.40 billion during the quarter, compared to analyst estimates of $14.35 billion. Sysco Corporation had a return on equity of 53.25% and a net margin of 2.06%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.64 earnings per share. Analysts predict that Sysco Corporation will post $2.76 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 6th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Thursday, October 5th. Sysco Corporation’s dividend payout ratio (DPR) is presently 63.16%.
A number of research firms recently commented on SYY. Jefferies Group LLC reaffirmed a “hold” rating and set a $51.00 price target on shares of Sysco Corporation in a research report on Friday, August 4th. Wells Fargo & Company reiterated a “buy” rating on shares of Sysco Corporation in a research note on Monday, August 14th. Zacks Investment Research downgraded shares of Sysco Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Pivotal Research set a $53.00 price objective on shares of Sysco Corporation and gave the stock a “hold” rating in a research note on Sunday, August 13th. Finally, Royal Bank Of Canada set a $50.00 price objective on shares of Sysco Corporation and gave the stock a “hold” rating in a research note on Friday, August 11th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $56.17.
About Sysco Corporation
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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