BlackRock Inc. trimmed its stake in shares of Sysco Co. (NYSE:SYY) by 0.3% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 30,223,832 shares of the company’s stock after selling 82,063 shares during the quarter. BlackRock Inc. owned about 5.91% of Sysco worth $2,349,902,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the company. Wagner Wealth Management LLC acquired a new position in Sysco in the 1st quarter worth about $39,000. Harbour Investments Inc. bought a new position in Sysco in the first quarter worth approximately $40,000. Hexagon Capital Partners LLC raised its stake in shares of Sysco by 68.9% in the first quarter. Hexagon Capital Partners LLC now owns 620 shares of the company’s stock worth $48,000 after purchasing an additional 253 shares during the last quarter. Berman Capital Advisors LLC increased its position in shares of Sysco by 34.2% during the first quarter. Berman Capital Advisors LLC now owns 686 shares of the company’s stock valued at $53,000 after acquiring an additional 175 shares during the last quarter. Finally, tru Independence LLC purchased a new stake in shares of Sysco during the second quarter valued at approximately $59,000. Hedge funds and other institutional investors own 79.81% of the company’s stock.
A number of analysts recently commented on SYY shares. TheStreet raised Sysco from a “c” rating to a “b-” rating in a research report on Wednesday, September 15th. UBS Group assumed coverage on Sysco in a research report on Thursday, July 29th. They issued a “buy” rating and a $89.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $85.78.
Sysco (NYSE:SYY) last issued its quarterly earnings results on Monday, August 9th. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.11. Sysco had a return on equity of 52.19% and a net margin of 1.02%. The firm had revenue of $16.14 billion for the quarter, compared to analysts’ expectations of $14.65 billion. During the same period in the previous year, the firm posted ($0.29) EPS. The business’s revenue for the quarter was up 82.0% compared to the same quarter last year. On average, analysts predict that Sysco Co. will post 3.49 earnings per share for the current year.
The business also recently declared a dividend, which will be paid on Thursday, September 30th. Stockholders of record on Thursday, September 16th will be given a $0.47 dividend. The ex-dividend date of this dividend is Wednesday, September 15th. This represents a dividend yield of 2.4%. Sysco’s dividend payout ratio is currently 130.56%.
In other news, EVP Greg D. Bertrand sold 7,230 shares of the business’s stock in a transaction that occurred on Friday, August 27th. The stock was sold at an average price of $80.00, for a total value of $578,400.00. Following the sale, the executive vice president now directly owns 32,238 shares of the company’s stock, valued at approximately $2,579,040. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 5.17% of the company’s stock.
Sysco Corp. engages in selling, marketing, and distribution of food products to restaurants, healthcare and educational facilities, and lodging establishments. It operates through the following segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other. The U.S. Foodservice Operations consists of U.S.
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