SYSCO Co. (SYY) Shares Sold by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. trimmed its position in shares of SYSCO Co. (NYSE:SYY) by 4.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,773,175 shares of the company’s stock after selling 84,198 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.33% of SYSCO worth $89,244,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of SYY. Wetherby Asset Management Inc. lifted its position in shares of SYSCO by 5.3% in the second quarter. Wetherby Asset Management Inc. now owns 12,224 shares of the company’s stock valued at $615,000 after acquiring an additional 615 shares in the last quarter. Stoneridge Investment Partners LLC purchased a new stake in shares of SYSCO in the second quarter valued at $5,136,000. Summit Financial Group Inc. purchased a new stake in shares of SYSCO in the second quarter valued at $248,000. Global X Management Co. LLC lifted its position in shares of SYSCO by 12.9% in the second quarter. Global X Management Co. LLC now owns 8,383 shares of the company’s stock valued at $422,000 after acquiring an additional 959 shares in the last quarter. Finally, Seaward Management Limited Partnership lifted its position in shares of SYSCO by 3.7% in the second quarter. Seaward Management Limited Partnership now owns 48,817 shares of the company’s stock valued at $2,456,000 after acquiring an additional 1,736 shares in the last quarter. Institutional investors own 78.88% of the company’s stock.
In other news, insider Wayne Shurts sold 15,600 shares of the firm’s stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $55.32, for a total value of $862,992.00. Following the completion of the sale, the insider now owns 58,776 shares of the company’s stock, valued at $3,251,488.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William J. Delaney III sold 30,000 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $55.55, for a total value of $1,666,500.00. Following the completion of the sale, the chief executive officer now directly owns 406,725 shares of the company’s stock, valued at approximately $22,593,573.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 160,200 shares of company stock valued at $8,397,012. 8.81% of the stock is currently owned by insiders.
Several brokerages have recently issued reports on SYY. BidaskClub downgraded SYSCO from a “buy” rating to a “hold” rating in a research report on Friday, June 9th. Zacks Investment Research downgraded SYSCO from a “buy” rating to a “hold” rating in a research report on Wednesday, May 10th. Barclays PLC restated an “equal weight” rating and issued a $57.00 price objective (up from $53.00) on shares of SYSCO in a research report on Tuesday, May 9th. Royal Bank Of Canada upped their price objective on SYSCO from $48.00 to $50.00 and gave the company a “sector perform” rating in a research report on Tuesday, May 9th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $51.00 price objective (up from $50.00) on shares of SYSCO in a research report on Monday, May 8th. Ten analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $55.71.
SYSCO Co. (SYY) opened at 52.97 on Tuesday. The firm has a market capitalization of $28.08 billion, a price-to-earnings ratio of 25.47 and a beta of 0.52. SYSCO Co. has a 1-year low of $47.15 and a 1-year high of $57.07. The company has a 50-day moving average price of $51.74 and a 200 day moving average price of $52.53.
SYSCO (NYSE:SYY) last issued its earnings results on Monday, August 14th. The company reported $0.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.01. The business had revenue of $14.40 billion during the quarter, compared to analysts’ expectations of $14.35 billion. SYSCO had a return on equity of 51.95% and a net margin of 2.12%. SYSCO’s revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.64 earnings per share. Equities analysts anticipate that SYSCO Co. will post $2.76 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 6th will be given a $0.33 dividend. The ex-dividend date is Thursday, October 5th. This represents a $1.32 annualized dividend and a dividend yield of 2.49%. SYSCO’s dividend payout ratio (DPR) is presently 63.16%.
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SYSCO 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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