New England Research & Management Inc. increased its stake in Sysco Corporation (NYSE:SYY) by 66.0% during the second quarter, Holdings Channel reports. The firm owned 15,390 shares of the company’s stock after buying an additional 6,120 shares during the period. New England Research & Management Inc.’s holdings in Sysco Corporation were worth $775,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the company. Howe & Rusling Inc. increased its position in Sysco Corporation by 81.1% in the first quarter. Howe & Rusling Inc. now owns 2,595 shares of the company’s stock valued at $135,000 after buying an additional 1,162 shares during the period. Affinity Wealth Management increased its position in Sysco Corporation by 7.0% in the first quarter. Affinity Wealth Management now owns 11,175 shares of the company’s stock valued at $580,000 after buying an additional 735 shares during the period. Reilly Financial Advisors LLC increased its position in Sysco Corporation by 15.8% in the first quarter. Reilly Financial Advisors LLC now owns 27,466 shares of the company’s stock valued at $1,426,000 after buying an additional 3,752 shares during the period. Somerset Trust Co increased its position in Sysco Corporation by 1.9% in the first quarter. Somerset Trust Co now owns 28,042 shares of the company’s stock valued at $1,456,000 after buying an additional 528 shares during the period. Finally, Capital Investment Advisors LLC increased its position in Sysco Corporation by 10.4% in the first quarter. Capital Investment Advisors LLC now owns 69,536 shares of the company’s stock valued at $3,610,000 after buying an additional 6,525 shares during the period. 78.49% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Corporation (SYY) traded up 0.23% on Friday, reaching $51.31. 931,048 shares of the company’s stock were exchanged. The firm has a market cap of $27.20 billion, a PE ratio of 24.67 and a beta of 0.52. Sysco Corporation has a one year low of $47.15 and a one year high of $57.07. The firm has a 50 day moving average price of $51.10 and a 200 day moving average price of $52.56.

Sysco Corporation (NYSE:SYY) last issued its earnings results on Monday, August 14th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.01. Sysco Corporation had a return on equity of 53.25% and a net margin of 2.06%. The business had revenue of $14.40 billion during the quarter, compared to the consensus estimate of $14.35 billion. During the same period last year, the company earned $0.64 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, equities analysts anticipate that Sysco Corporation will post $2.76 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 6th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date is Thursday, October 5th. Sysco Corporation’s dividend payout ratio (DPR) is presently 63.16%.

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SYY has been the topic of several research analyst reports. BMO Capital Markets raised shares of Sysco Corporation from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $56.00 to $60.00 in a report on Thursday, May 4th. Jefferies Group LLC restated a “hold” rating and issued a $51.00 price target (up previously from $50.00) on shares of Sysco Corporation in a research report on Monday, May 8th. Royal Bank Of Canada boosted their price target on shares of Sysco Corporation from $48.00 to $50.00 and gave the stock a “sector perform” rating in a research report on Tuesday, May 9th. Zacks Investment Research upgraded shares of Sysco Corporation from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research report on Tuesday, May 9th. Finally, Barclays PLC restated an “equal weight” rating and issued a $57.00 price target (up previously from $53.00) on shares of Sysco Corporation in a research report on Tuesday, May 9th. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $56.02.

In other Sysco Corporation news, insider Wayne Shurts sold 15,600 shares of the firm’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $54.25, for a total value of $846,300.00. Following the completion of the sale, the insider now directly owns 58,776 shares of the company’s stock, valued at approximately $3,188,598. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William J. Delaney III sold 30,000 shares of the firm’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $49.92, for a total value of $1,497,600.00. Following the completion of the sale, the chief executive officer now directly owns 406,725 shares of the company’s stock, valued at $20,303,712. The disclosure for this sale can be found here. Insiders sold a total of 122,400 shares of company stock valued at $6,494,700 over the last ninety days. 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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Institutional Ownership by Quarter for Sysco Corporation (NYSE:SYY)

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