Sysco Corporation (SYY) Shares Bought by Parsons Capital Management Inc. RI
Parsons Capital Management Inc. RI increased its position in Sysco Corporation (NYSE:SYY) by 0.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,451 shares of the company’s stock after buying an additional 100 shares during the period. Parsons Capital Management Inc. RI’s holdings in Sysco Corporation were worth $1,633,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in SYY. Highland Capital Management LLC bought a new stake in Sysco Corporation during the first quarter worth approximately $636,000. Stokes & Hubbell Capital Management LLC increased its stake in Sysco Corporation by 1.2% in the first quarter. Stokes & Hubbell Capital Management LLC now owns 26,663 shares of the company’s stock worth $1,384,000 after buying an additional 321 shares in the last quarter. North American Management Corp increased its stake in Sysco Corporation by 2.0% in the first quarter. North American Management Corp now owns 97,939 shares of the company’s stock worth $5,085,000 after buying an additional 1,943 shares in the last quarter. BKD Wealth Advisors LLC increased its stake in Sysco Corporation by 10.4% in the first quarter. BKD Wealth Advisors LLC now owns 47,746 shares of the company’s stock worth $2,479,000 after buying an additional 4,494 shares in the last quarter. Finally, Tompkins Financial Corp increased its stake in Sysco Corporation by 1,379.0% in the first quarter. Tompkins Financial Corp now owns 52,622 shares of the company’s stock worth $2,458,000 after buying an additional 49,064 shares in the last quarter. 78.38% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Sysco Corporation (SYY) traded up 1.40% during mid-day trading on Friday, hitting $51.58. 3,803,719 shares of the company’s stock traded hands. The stock has a market cap of $27.61 billion, a P/E ratio of 27.19 and a beta of 0.52. The stock has a 50 day moving average price of $50.93 and a 200-day moving average price of $52.61. Sysco Corporation has a 1-year low of $47.15 and a 1-year high of $57.07.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 6th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.32 annualized dividend and a dividend yield of 2.56%. Sysco Corporation’s dividend payout ratio (DPR) is 69.47%.
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SYY has been the topic of a number of research analyst reports. BMO Capital Markets raised shares of Sysco Corporation from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $56.00 to $60.00 in a report on Thursday, May 4th. Jefferies Group LLC reissued a “hold” rating and set a $51.00 price objective (up previously from $50.00) on shares of Sysco Corporation in a report on Monday, May 8th. Royal Bank Of Canada boosted their price objective 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. Zacks Investment Research raised shares of Sysco Corporation from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a report on Tuesday, May 9th. Finally, Barclays PLC reissued an “equal weight” rating and set a $57.00 price objective (up previously from $53.00) on shares of Sysco Corporation in a report on Tuesday, May 9th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock 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 firm’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $55.55, for a total transaction of $1,666,500.00. Following the completion of the transaction, the chief executive officer now owns 406,725 shares in the company, valued at approximately $22,593,573.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Wayne Shurts sold 15,600 shares of the firm’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $54.25, for a total transaction of $846,300.00. Following the transaction, the insider now owns 58,776 shares of the company’s stock, valued at approximately $3,188,598. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 152,400 shares of company stock valued at $8,121,300. Insiders own 8.81% of the company’s stock.
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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