Edmp Inc. Continues to Hold Stake in SYSCO Co. (SYY)

Edmp Inc. continued to hold its position in shares of SYSCO Co. (NYSE:SYY) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,766 shares of the company’s stock at the end of the first quarter. Edmp Inc.’s holdings in SYSCO were worth $559,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Parkside Financial Bank & Trust boosted its stake in SYSCO by 0.6% in the third quarter. Parkside Financial Bank & Trust now owns 2,324 shares of the company’s stock worth $114,000 after buying an additional 13 shares in the last quarter. Segment Wealth Management LLC boosted its stake in SYSCO by 0.5% in the third quarter. Segment Wealth Management LLC now owns 5,047 shares of the company’s stock valued at $247,000 after buying an additional 23 shares during the period. Oakworth Capital Inc. boosted its stake in SYSCO 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 during the period. Checchi Capital Advisers LLC boosted its stake in SYSCO by 0.5% in the third quarter. Checchi Capital Advisers LLC now owns 8,266 shares of the company’s stock valued at $405,000 after buying an additional 43 shares during the period. Finally, Usca Ria LLC boosted its stake in SYSCO by 0.5% in the third quarter. Usca Ria LLC now owns 11,886 shares of the company’s stock valued at $583,000 after buying an additional 62 shares during the period. 77.50% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

SYSCO Co. (NYSE:SYY) traded up 0.28% on Friday, reaching $54.58. The company’s stock had a trading volume of 5,176,199 shares. The company has a market cap of $29.21 billion, a P/E ratio of 28.77 and a beta of 0.52. SYSCO Co. has a 12 month low of $47.15 and a 12 month high of $57.07. The stock’s 50 day moving average price is $53.03 and its 200 day moving average price is $53.26.

SYSCO (NYSE:SYY) last announced its quarterly earnings results on Monday, May 8th. The company reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51. SYSCO had a net margin of 1.94% and a return on equity of 40.85%. The company had revenue of $13.52 billion for the quarter, compared to analysts’ expectations of $13.14 billion. During the same quarter in the previous year, the company earned $0.46 earnings per share. SYSCO’s quarterly revenue was up 12.7% on a year-over-year basis. Equities research analysts forecast that SYSCO Co. will post $2.47 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 28th. Investors of record on Friday, April 7th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.43%. The ex-dividend date was Wednesday, April 5th. SYSCO’s payout ratio is currently 71.74%.

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SYY has been the subject of several research reports. Zacks Investment Research raised SYSCO from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a research note on Tuesday, May 9th. Guggenheim reissued a “neutral” rating on shares of SYSCO in a research note on Tuesday, February 7th. Royal Bank of Canada lifted their target price on SYSCO from $48.00 to $50.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 9th. Deutsche Bank AG reissued a “hold” rating and issued a $55.00 target price (up from $54.00) on shares of SYSCO in a research note on Wednesday, February 8th. Finally, Loop Capital initiated coverage on SYSCO in a research report on Monday. They issued a “buy” rating and a $61.00 price target on the stock. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $56.30.

In other news, CEO William J. Delaney III sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 12th. The shares were sold at an average price of $51.96, for a total value of $1,558,800.00. Following the transaction, the chief executive officer now owns 406,725 shares in the company, valued at $21,133,431. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Wayne Shurts sold 15,600 shares of the company’s stock in a transaction that occurred on Wednesday, April 5th. The stock was sold at an average price of $51.66, for a total transaction of $805,896.00. Following the completion of the transaction, the insider now owns 43,176 shares in the company, valued at approximately $2,230,472.16. The disclosure for this sale can be found here. Insiders have sold 75,600 shares of company stock worth $3,991,296 in the last three months. 8.81% of the stock is currently owned by insiders.

About SYSCO

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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