Oxbow Advisors LLC Holds Position in Sysco Corporation (SYY)
Oxbow Advisors LLC held its stake in Sysco Corporation (NYSE:SYY) during the second quarter, Holdings Channel reports. The firm owned 10,105 shares of the company’s stock at the end of the second quarter. Oxbow Advisors LLC’s holdings in Sysco Corporation were worth $509,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Manning & Napier Advisors LLC raised its stake in Sysco Corporation by 10.8% in the first quarter. Manning & Napier Advisors LLC now owns 88,706 shares of the company’s stock worth $4,605,000 after buying an additional 8,679 shares during the period. Gulf International Bank UK Ltd raised its stake in Sysco Corporation by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 165,459 shares of the company’s stock worth $8,590,000 after buying an additional 2,000 shares during the period. Koshinski Asset Management Inc. raised its stake in Sysco Corporation by 8.8% in the first quarter. Koshinski Asset Management Inc. now owns 6,334 shares of the company’s stock worth $329,000 after buying an additional 510 shares during the period. Highland Capital Management LLC purchased a new stake in Sysco Corporation during the first quarter worth $636,000. Finally, Bank of Montreal Can raised its stake in Sysco Corporation by 47.0% in the first quarter. Bank of Montreal Can now owns 6,247,295 shares of the company’s stock worth $324,360,000 after buying an additional 1,996,198 shares during the period. 78.38% of the stock is currently owned by institutional investors and hedge funds.
Sysco Corporation (SYY) traded down 1.09% during trading on Wednesday, hitting $51.51. 1,397,567 shares of the company traded hands. The stock has a market capitalization of $27.57 billion, a PE ratio of 27.15 and a beta of 0.52. The company’s 50 day moving average is $51.23 and its 200-day moving average is $52.70. Sysco Corporation has a 52 week low of $47.15 and a 52 week high of $57.07.
Sysco Corporation (NYSE:SYY) last announced its quarterly earnings results on Monday, May 8th. The company reported $0.51 earnings per share for the quarter, hitting the consensus estimate of $0.51. Sysco Corporation had a net margin of 1.93% and a return on equity of 47.28%. 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 business posted $0.46 earnings per share. Sysco Corporation’s quarterly revenue was up 12.7% on a year-over-year basis. Analysts predict that Sysco Corporation will post $2.47 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 6th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend is Thursday, October 5th. Sysco Corporation’s dividend payout ratio is presently 69.47%.
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A number of analysts recently weighed in on SYY shares. Zacks Investment Research lowered shares of Sysco Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, April 11th. Guggenheim reaffirmed a “neutral” rating on shares of Sysco Corporation in a report on Tuesday, April 11th. BMO Capital Markets raised shares of Sysco Corporation from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $56.00 to $60.00 in a report on Thursday, May 4th. Jefferies Group LLC reaffirmed a “hold” rating and set a $51.00 target price (up previously from $50.00) on shares of Sysco Corporation in a report on Monday, May 8th. Finally, Royal Bank Of Canada upped their target price on shares of Sysco Corporation from $48.00 to $50.00 and gave the stock a “sector perform” rating in a report on Tuesday, May 9th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Sysco Corporation has a consensus rating of “Hold” and a consensus target price of $56.02.
In other news, CEO William J. Delaney III sold 30,000 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $55.55, for a total value of $1,666,500.00. Following the transaction, the chief executive officer now directly owns 406,725 shares in the company, valued at $22,593,573.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Wayne Shurts sold 15,600 shares of the company’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $54.25, for a total transaction of $846,300.00. Following the completion of the transaction, the insider now owns 58,776 shares in the company, valued at $3,188,598. The disclosure for this sale can be found here. Insiders sold 152,400 shares of company stock worth $8,121,300 in the last 90 days. 8.81% of the stock is currently owned by company insiders.
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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