YorkBridge Wealth Partners LLC Decreases Holdings in Sysco Corporation (SYY)
YorkBridge Wealth Partners LLC decreased its position in Sysco Corporation (NYSE:SYY) by 2.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,429 shares of the company’s stock after selling 171 shares during the quarter. YorkBridge Wealth Partners LLC’s holdings in Sysco Corporation were worth $375,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Kistler Tiffany Companies LLC raised its holdings in Sysco Corporation by 0.4% in the second quarter. Kistler Tiffany Companies LLC now owns 2,915 shares of the company’s stock worth $147,000 after purchasing an additional 12 shares in the last quarter. Buckingham Asset Management LLC raised its holdings in Sysco Corporation by 0.3% in the first quarter. Buckingham Asset Management LLC now owns 5,904 shares of the company’s stock worth $307,000 after purchasing an additional 16 shares in the last quarter. Schnieders Capital Management LLC raised its holdings in Sysco Corporation by 0.4% in the second quarter. Schnieders Capital Management LLC now owns 4,070 shares of the company’s stock worth $205,000 after purchasing an additional 18 shares in the last quarter. Blue Chip Partners Inc. raised its holdings in Sysco Corporation by 0.6% in the second quarter. Blue Chip Partners Inc. now owns 2,967 shares of the company’s stock worth $149,000 after purchasing an additional 18 shares in the last quarter. Finally, Northwest Quadrant Wealth Management LLC raised its holdings in Sysco Corporation by 0.6% in the second quarter. Northwest Quadrant Wealth Management LLC now owns 5,169 shares of the company’s stock worth $269,000 after purchasing an additional 29 shares in the last quarter. Institutional investors and hedge funds own 79.92% of the company’s stock.
SYY has been the subject of a number of research reports. Zacks Investment Research downgraded Sysco Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Royal Bank Of Canada set a $50.00 price objective on Sysco Corporation and gave the stock a “hold” rating in a report on Friday, August 11th. Bank of America Corporation reiterated a “buy” rating and issued a $61.00 price objective on shares of Sysco Corporation in a report on Monday, June 26th. Wells Fargo & Company reiterated a “buy” rating on shares of Sysco Corporation in a report on Monday, August 14th. Finally, J P Morgan Chase & Co reiterated an “overweight” rating and issued a $57.00 price objective on shares of Sysco Corporation in a report on Friday, June 23rd. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Sysco Corporation currently has an average rating of “Hold” and a consensus price target of $56.42.
In other Sysco Corporation news, CEO William J. Delaney III sold 30,000 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $51.31, for a total transaction of $1,539,300.00. Following the sale, the chief executive officer now owns 406,725 shares in the company, valued at approximately $20,869,059.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Wayne Shurts sold 7,800 shares of the business’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $50.82, for a total value of $396,396.00. Following the sale, the executive vice president now owns 58,776 shares in the company, valued at approximately $2,986,996.32. The disclosure for this sale can be found here. Insiders have sold a total of 2,111,381 shares of company stock worth $113,332,388 over the last ninety days. 8.81% of the stock is currently owned by corporate insiders.
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Sysco Corporation (SYY) opened at 54.28 on Friday. The company has a market capitalization of $28.65 billion, a P/E ratio of 26.10 and a beta of 0.52. Sysco Corporation has a one year low of $47.15 and a one year high of $57.07. The stock’s 50 day moving average price is $53.44 and its 200 day moving average price is $52.78.
Sysco Corporation (NYSE:SYY) last announced its earnings results on Monday, August 14th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.01. Sysco Corporation had a return on equity of 53.25% and a net margin of 2.06%. The company had revenue of $14.40 billion for the quarter, compared to analyst estimates of $14.35 billion. During the same period in the prior year, the company posted $0.64 EPS. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. Equities analysts anticipate that Sysco Corporation will post $2.76 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 6th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.43%. The ex-dividend date is Thursday, October 5th. Sysco Corporation’s dividend payout ratio is currently 63.16%.
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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