Mariner Wealth Advisors LLC decreased its holdings in Sysco Corporation (NYSE:SYY) by 50.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,564 shares of the company’s stock after selling 9,557 shares during the quarter. Mariner Wealth Advisors LLC’s holdings in Sysco Corporation were worth $482,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. TrimTabs Asset Management LLC raised its holdings in Sysco Corporation by 88.7% in the 1st quarter. TrimTabs Asset Management LLC now owns 2,162 shares of the company’s stock worth $112,000 after purchasing an additional 1,016 shares during the period. Arcadia Investment Management Corp MI raised its holdings in Sysco Corporation by 10.7% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 2,336 shares of the company’s stock worth $118,000 after purchasing an additional 225 shares during the period. Acrospire Investment Management LLC raised its holdings in Sysco Corporation by 84.6% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,400 shares of the company’s stock worth $121,000 after purchasing an additional 1,100 shares during the period. Manchester Capital Management LLC raised its holdings in Sysco Corporation by 13.4% in the 2nd quarter. Manchester Capital Management LLC now owns 2,538 shares of the company’s stock worth $128,000 after purchasing an additional 300 shares during the period. Finally, Kistler Tiffany Companies LLC raised its holdings in Sysco Corporation by 0.4% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,915 shares of the company’s stock worth $147,000 after purchasing an additional 12 shares during the period. 79.92% of the stock is owned by institutional investors.
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In other Sysco Corporation news, CEO William J. Delaney III sold 30,000 shares of Sysco Corporation stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $49.92, for a total value of $1,497,600.00. Following the completion of the sale, the chief executive officer now directly owns 406,725 shares of the company’s stock, valued at approximately $20,303,712. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul T. Moskowitz sold 16,667 shares of Sysco Corporation stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $54.12, for a total transaction of $902,018.04. Following the completion of the sale, the insider now directly owns 61,936 shares of the company’s stock, valued at $3,351,976.32. The disclosure for this sale can be found here. Insiders have sold a total of 2,141,381 shares of company stock valued at $114,829,988 over the last 90 days. Insiders own 8.81% of the company’s stock.
A number of equities analysts recently weighed in on the company. Wells Fargo & Company reaffirmed a “buy” rating on shares of Sysco Corporation in a report on Friday, June 23rd. BidaskClub lowered Sysco Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. Jefferies Group LLC reiterated a “hold” rating and set a $51.00 price objective on shares of Sysco Corporation in a research note on Friday, August 4th. Pivotal Research set a $53.00 price objective on Sysco Corporation and gave the stock a “hold” rating in a research note on Sunday, August 13th. Finally, BMO Capital Markets set a $60.00 price objective on Sysco Corporation and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Sysco Corporation has a consensus rating of “Hold” and an average price target of $56.17.
Sysco Corporation (NYSE SYY) opened at 54.23 on Monday. The stock has a market capitalization of $28.63 billion, a price-to-earnings ratio of 26.07 and a beta of 0.52. Sysco Corporation has a 12 month low of $47.15 and a 12 month high of $57.07. The company has a 50-day moving average price of $53.15 and a 200 day moving average price of $52.73.
Sysco Corporation (NYSE:SYY) last issued its quarterly earnings data on Monday, August 14th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.01. Sysco Corporation had a return on equity of 53.25% and a net margin of 2.06%. The firm had revenue of $14.40 billion during the quarter, compared to the consensus estimate of $14.35 billion. During the same period in the previous year, the firm posted $0.64 EPS. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. Equities analysts predict that Sysco Corporation will post $2.76 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 6th will be given a dividend of $0.33 per share. The ex-dividend date is Thursday, October 5th. This represents a $1.32 annualized dividend and a dividend yield of 2.43%. Sysco Corporation’s dividend payout ratio is currently 63.16%.
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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