Clarkston Capital Partners LLC raised its position in shares of Sysco Corporation (NYSE:SYY) by 14.0% during the second quarter, Holdings Channel reports. The firm owned 956,985 shares of the company’s stock after buying an additional 117,875 shares during the period. Sysco Corporation accounts for about 2.1% of Clarkston Capital Partners LLC’s holdings, making the stock its 14th largest position. Clarkston Capital Partners LLC’s holdings in Sysco Corporation were worth $48,165,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. North Star Investment Management Corp. boosted its position in shares of Sysco Corporation by 81.2% in the first quarter. North Star Investment Management Corp. now owns 1,944 shares of the company’s stock worth $101,000 after buying an additional 871 shares during the period. TrimTabs Asset Management LLC boosted its position in shares of Sysco Corporation by 88.7% in the first quarter. TrimTabs Asset Management LLC now owns 2,162 shares of the company’s stock worth $112,000 after buying an additional 1,016 shares during the period. Howe & Rusling Inc. boosted its position in shares of Sysco Corporation by 81.1% in the first quarter. Howe & Rusling Inc. now owns 2,595 shares of the company’s stock worth $135,000 after buying an additional 1,162 shares during the period. Kistler Tiffany Companies LLC boosted its position in shares of Sysco Corporation by 0.4% in the first quarter. Kistler Tiffany Companies LLC now owns 2,903 shares of the company’s stock worth $151,000 after buying an additional 13 shares during the period. Finally, Blue Chip Partners Inc. boosted its position in shares of Sysco Corporation by 0.6% in the first quarter. Blue Chip Partners Inc. now owns 2,949 shares of the company’s stock worth $153,000 after buying an additional 19 shares during the period. Hedge funds and other institutional investors own 78.49% of the company’s stock.

Sysco Corporation (NYSE:SYY) traded up 0.41% on Tuesday, reaching $51.30. 1,292,085 shares of the company’s stock traded hands. The stock has a 50-day moving average of $50.96 and a 200 day moving average of $52.58. Sysco Corporation has a 52 week low of $47.15 and a 52 week high of $57.07. The firm has a market capitalization of $27.46 billion, a P/E ratio of 27.04 and a beta of 0.52.

Sysco Corporation (NYSE:SYY) last posted its quarterly earnings data on Monday, August 14th. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. The company had revenue of $14.40 billion for the quarter, compared to analyst estimates of $14.35 billion. Sysco Corporation had a net margin of 1.93% and a return on equity of 47.28%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.64 earnings per share. On average, equities analysts expect that Sysco Corporation will post $2.47 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 6th will be paid a dividend of $0.33 per share. The ex-dividend date is Thursday, October 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.58%. Sysco Corporation’s dividend payout ratio is currently 69.47%.

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SYY has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Sysco Corporation from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a report on Tuesday, May 9th. Loop Capital initiated coverage on shares of Sysco Corporation in a report on Monday, May 15th. They issued a “buy” rating and a $61.00 price objective for the company. BMO Capital Markets restated a “buy” rating and issued a $60.00 price objective on shares of Sysco Corporation in a report on Tuesday, June 27th. Bank of America Corporation restated a “buy” rating and issued a $61.00 price objective on shares of Sysco Corporation in a report on Monday, June 26th. Finally, Wells Fargo & Company restated a “buy” rating on shares of Sysco Corporation in a report on Friday, June 23rd. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $56.02.

In other news, CEO William J. Delaney III sold 30,000 shares of Sysco Corporation stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $54.22, for a total transaction of $1,626,600.00. Following the sale, the chief executive officer now owns 406,725 shares in the company, valued at $22,052,629.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Wayne Shurts sold 15,600 shares of Sysco Corporation stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $55.32, for a total transaction of $862,992.00. Following the sale, the insider now owns 58,776 shares in the company, valued at approximately $3,251,488.32. The disclosure for this sale can be found here. Insiders have sold 152,400 shares of company stock worth $8,121,300 in the last quarter. 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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Institutional Ownership by Quarter for Sysco Corporation (NYSE:SYY)

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