Cornerstone Capital Management Holdings LLC. Purchases 6,757 Shares of Sysco (SYY)

Cornerstone Capital Management Holdings LLC. boosted its position in Sysco (NYSE:SYY) by 8.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,128 shares of the company’s stock after buying an additional 6,757 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in Sysco were worth $5,473,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of SYY. Advisors Asset Management Inc. raised its stake in shares of Sysco by 465.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,783 shares of the company’s stock worth $150,000 after buying an additional 2,291 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Sysco by 2.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 10,451,813 shares of the company’s stock valued at $563,890,000 after purchasing an additional 208,815 shares during the last quarter. Edge Advisors LLC raised its stake in Sysco by 74.5% in the 3rd quarter. Edge Advisors LLC now owns 13,796 shares of the company’s stock valued at $743,000 after purchasing an additional 5,892 shares during the last quarter. Thompson Siegel & Walmsley LLC raised its stake in Sysco by 51.9% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 2,926 shares of the company’s stock valued at $158,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Girard Partners LTD. acquired a new position in Sysco in the 3rd quarter valued at about $218,000. Hedge funds and other institutional investors own 79.03% of the company’s stock.

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A number of brokerages have recently issued reports on SYY. Bank of America boosted their target price on Sysco from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday, February 6th. Loop Capital decreased their price target on Sysco from $72.00 to $70.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. Pivotal Research reduced their target price on Sysco from $68.00 to $61.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. BMO Capital Markets set a $74.00 price target on Sysco and gave the company a “buy” rating in a research report on Monday, February 5th. Finally, Morgan Stanley raised Sysco from an “underweight” rating to an “equal weight” rating and set a $64.00 price target on the stock in a research report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $65.00.

In related news, Director Richard G. Tilghman sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $59.80, for a total transaction of $299,000.00. Following the completion of the transaction, the director now owns 90,552 shares in the company, valued at approximately $5,415,009.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Wayne Shurts sold 7,800 shares of Sysco stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $58.98, for a total value of $460,044.00. Following the completion of the transaction, the executive vice president now owns 55,235 shares of the company’s stock, valued at approximately $3,257,760.30. The disclosure for this sale can be found here. Insiders have sold a total of 54,732 shares of company stock worth $3,321,174 in the last three months. 9.60% of the stock is owned by insiders.

Shares of SYY stock traded down $0.01 during trading on Thursday, reaching $60.51. The company had a trading volume of 1,686,880 shares, compared to its average volume of 2,851,317. The company has a debt-to-equity ratio of 3.66, a quick ratio of 0.85 and a current ratio of 1.38. Sysco has a one year low of $48.85 and a one year high of $64.27. The company has a market capitalization of $31,638.71, a price-to-earnings ratio of 24.40, a PEG ratio of 2.05 and a beta of 0.55.

Sysco (NYSE:SYY) last issued its quarterly earnings data on Monday, February 5th. The company reported $0.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.65 by $0.01. Sysco had a return on equity of 61.02% and a net margin of 2.10%. The business had revenue of $14.41 billion for the quarter, compared to the consensus estimate of $14.15 billion. During the same period last year, the business earned $0.58 EPS. The firm’s revenue was up 7.1% compared to the same quarter last year. analysts forecast that Sysco will post 2.93 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 27th. Stockholders of record on Friday, April 6th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Thursday, April 5th. Sysco’s payout ratio is presently 58.06%.

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Sysco Profile

Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry in the United States, Canada, Bahamas, Mexico, Costa Rica, Panama, the United Kingdom, France, Sweden, Ireland, Belgium, Spain, and Luxembourg.

Institutional Ownership by Quarter for Sysco (NYSE:SYY)

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