Sysco Corporation (SYY) Position Reduced by Murphy Capital Management Inc.
Murphy Capital Management Inc. reduced its position in shares of Sysco Corporation (NYSE:SYY) by 24.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,500 shares of the company’s stock after selling 1,450 shares during the period. Murphy Capital Management Inc.’s holdings in Sysco Corporation were worth $226,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. North Star Investment Management Corp. raised its position in Sysco Corporation by 81.2% in the first quarter. North Star Investment Management Corp. now owns 1,944 shares of the company’s stock worth $101,000 after buying an additional 871 shares during the period. TrimTabs Asset Management LLC raised its position in Sysco Corporation by 88.7% in the first quarter. TrimTabs Asset Management LLC now owns 2,162 shares of the company’s stock worth $112,000 after buying an additional 1,016 shares during the period. Howe & Rusling Inc. raised its position in Sysco Corporation by 81.1% in the first quarter. Howe & Rusling Inc. now owns 2,595 shares of the company’s stock worth $135,000 after buying an additional 1,162 shares during the period. Kistler Tiffany Companies LLC raised its position in Sysco Corporation by 0.4% in the first quarter. Kistler Tiffany Companies LLC now owns 2,903 shares of the company’s stock worth $151,000 after buying an additional 13 shares during the period. Finally, Blue Chip Partners Inc. raised its position in Sysco Corporation by 0.6% in the first quarter. Blue Chip Partners Inc. now owns 2,949 shares of the company’s stock worth $153,000 after buying an additional 19 shares during the period. Hedge funds and other institutional investors own 78.48% of the company’s stock.
Shares of Sysco Corporation (NYSE:SYY) traded up 0.44% during midday trading on Friday, hitting $52.33. 2,286,819 shares of the stock traded hands. Sysco Corporation has a 52 week low of $47.15 and a 52 week high of $57.07. The firm has a 50-day moving average price of $51.49 and a 200-day moving average price of $52.71. The stock has a market capitalization of $28.01 billion, a P/E ratio of 27.59 and a beta of 0.52.
Sysco Corporation (NYSE:SYY) last released its quarterly earnings data on Monday, May 8th. The company reported $0.51 earnings per share for the quarter, meeting the consensus estimate of $0.51. The company had revenue of $13.52 billion during the quarter, compared to analyst estimates of $13.14 billion. Sysco Corporation had a net margin of 1.93% and a return on equity of 47.28%. Sysco Corporation’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.46 EPS. On average, equities analysts predict that Sysco Corporation will post $2.47 earnings per share for the current fiscal 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 $0.33 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.32 annualized dividend and a dividend yield of 2.52%. Sysco Corporation’s dividend payout ratio is currently 69.47%.
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A number of equities analysts have commented on SYY shares. Zacks Investment Research upgraded shares of Sysco Corporation from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research report on Tuesday, May 9th. Loop Capital began coverage on shares of Sysco Corporation in a research report on Monday, May 15th. They set a “buy” rating and a $61.00 target price on the stock. Wells Fargo & Company reiterated a “buy” rating on shares of Sysco Corporation in a research report on Friday, June 23rd. Bank of America Corporation reiterated a “buy” rating and set a $61.00 target price on shares of Sysco Corporation in a research report on Monday, June 26th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $60.00 target price on shares of Sysco Corporation in a research report on Tuesday, June 27th. Nine analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $56.02.
In other news, EVP Wayne Shurts sold 7,800 shares of Sysco Corporation stock in a transaction on Monday, June 12th. The shares were sold at an average price of $55.30, for a total value of $431,340.00. Following the completion of the sale, the executive vice president now owns 58,776 shares in the company, valued at approximately $3,250,312.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William J. Delaney III sold 30,000 shares of Sysco Corporation stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $54.22, for a total transaction of $1,626,600.00. Following the completion of the sale, the chief executive officer now owns 406,725 shares of the company’s stock, valued at approximately $22,052,629.50. The disclosure for this sale can be found here. Insiders sold a total of 152,400 shares of company stock valued at $8,121,300 in the last quarter. 8.81% of the stock is currently owned by company 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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