Private Bank & Trust Co. Increases Position in Sysco Corporation (SYY)

Private Bank & Trust Co. raised its stake in shares of Sysco Corporation (NYSE:SYY) by 27.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,284 shares of the company’s stock after buying an additional 3,500 shares during the period. Private Bank & Trust Co.’s holdings in Sysco Corporation were worth $820,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in SYY. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Sysco Corporation by 27.8% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 36,866 shares of the company’s stock valued at $1,914,000 after buying an additional 8,021 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its stake in Sysco Corporation by 402.9% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 103,770 shares of the company’s stock valued at $5,388,000 after buying an additional 83,136 shares during the period. Suntrust Banks Inc. boosted its stake in Sysco Corporation by 2.6% in the first quarter. Suntrust Banks Inc. now owns 242,423 shares of the company’s stock valued at $12,585,000 after buying an additional 6,218 shares during the period. Citizens Financial Group Inc. RI boosted its stake in Sysco Corporation by 1,233.5% in the first quarter. Citizens Financial Group Inc. RI now owns 157,557 shares of the company’s stock valued at $8,181,000 after buying an additional 145,742 shares during the period. Finally, Northern Capital Management LLC purchased a new stake in Sysco Corporation during the first quarter valued at $728,000. 78.38% of the stock is owned by institutional investors.

Sysco Corporation (SYY) traded down 0.53% during trading on Tuesday, hitting $52.20. 919,125 shares of the company were exchanged. The company has a market capitalization of $27.94 billion, a price-to-earnings ratio of 27.52 and a beta of 0.52. The company has a 50-day moving average of $51.49 and a 200-day moving average of $52.71. Sysco Corporation has a 12 month low of $47.15 and a 12 month high of $57.07.

Sysco Corporation (NYSE:SYY) last posted its quarterly earnings data on Monday, May 8th. The company reported $0.51 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.51. Sysco Corporation had a net margin of 1.93% and a return on equity of 47.28%. The business had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.14 billion. During the same quarter in the previous year, the business posted $0.46 earnings per share. The company’s revenue was up 12.7% on a year-over-year basis. Analysts forecast that Sysco Corporation will post $2.47 EPS for the current year.

The business also recently announced 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 is Thursday, October 5th. This represents a $1.32 dividend on an annualized basis and a yield of 2.52%. Sysco Corporation’s payout ratio is 69.47%.

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SYY has been the subject of several analyst reports. Wells Fargo & Company reissued a “buy” rating on shares of Sysco Corporation in a research note on Friday, June 23rd. BMO Capital Markets reissued a “buy” rating and issued a $60.00 price target on shares of Sysco Corporation in a research note on Tuesday, June 27th. Bank of America Corporation reissued a “buy” rating and issued a $61.00 price target on shares of Sysco Corporation in a research note on Monday, June 26th. Zacks Investment Research cut shares of Sysco Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, May 10th. Finally, J P Morgan Chase & Co reissued an “overweight” rating and issued a $57.00 price target on shares of Sysco Corporation in a research note on Friday, June 23rd. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $56.02.

In related news, EVP Wayne Shurts sold 7,800 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 58,776 shares in the company, valued at $2,986,996.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO William J. Delaney III sold 30,000 shares of the business’s stock in a transaction that occurred 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 owns 406,725 shares of the company’s stock, valued at $20,303,712. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 152,400 shares of company stock valued at $8,121,300. 8.81% of the stock is owned by insiders.

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

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