Cambridge Advisors Inc. Has $213,000 Stake in Sysco Corporation (NYSE:SYY)
Cambridge Advisors Inc. maintained its position in Sysco Corporation (NYSE:SYY) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,235 shares of the company’s stock at the end of the second quarter. Cambridge Advisors Inc.’s holdings in Sysco Corporation were worth $213,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Benin Management CORP raised its position in Sysco Corporation by 9.5% in the second quarter. Benin Management CORP now owns 51,700 shares of the company’s stock valued at $2,602,000 after buying an additional 4,500 shares during the last quarter. PGGM Investments raised its position in Sysco Corporation by 127.0% in the second quarter. PGGM Investments now owns 1,013,891 shares of the company’s stock valued at $51,029,000 after buying an additional 567,295 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new position in Sysco Corporation during the second quarter valued at approximately $2,320,000. Delta Asset Management LLC TN raised its position in Sysco Corporation by 1.6% in the second quarter. Delta Asset Management LLC TN now owns 472,354 shares of the company’s stock valued at $23,774,000 after buying an additional 7,388 shares during the last quarter. Finally, Private Bank & Trust Co. raised its position in Sysco Corporation by 27.4% in the second quarter. Private Bank & Trust Co. now owns 16,284 shares of the company’s stock valued at $820,000 after buying an additional 3,500 shares during the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.
Sysco Corporation (SYY) traded up 1.40% during midday trading on Friday, reaching $51.58. The company’s stock had a trading volume of 3,803,719 shares. The firm has a market capitalization of $27.61 billion, a price-to-earnings ratio of 27.19 and a beta of 0.52. Sysco Corporation 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 $50.93 and its 200-day moving average price is $52.61.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 6th will be issued a dividend of $0.33 per share. The ex-dividend date is Thursday, October 5th. This represents a $1.32 annualized dividend and a dividend yield of 2.56%. Sysco Corporation’s dividend payout ratio is 69.47%.
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Several equities analysts recently commented on the company. Royal Bank Of Canada set a $50.00 target price on Sysco Corporation and gave the company a “hold” rating in a research note on Friday. Jefferies Group LLC reiterated a “hold” rating and issued a $51.00 target price on shares of Sysco Corporation in a research note on Friday, August 4th. BMO Capital Markets set a $60.00 target price on Sysco Corporation and gave the company a “buy” rating in a research note on Thursday, August 3rd. Zacks Investment Research upgraded Sysco Corporation from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Friday, July 21st. Finally, Wells Fargo & Company reiterated a “buy” rating on shares of Sysco Corporation in a research note on Monday, July 17th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Sysco Corporation presently has a consensus rating of “Hold” and an average price target of $56.02.
In other Sysco Corporation news, CEO William J. Delaney III sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $55.55, for a total transaction 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 filing with the SEC, which is available through this link. Also, EVP Wayne Shurts sold 7,800 shares of the firm’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $55.30, for a total value of $431,340.00. Following the transaction, the executive vice president now owns 58,776 shares in the company, valued at $3,250,312.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 152,400 shares of company stock worth $8,121,300. Corporate 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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