Comerica Bank boosted its position in shares of Sysco Corporation (NYSE:SYY) by 24.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 568,969 shares of the company’s stock after purchasing an additional 110,189 shares during the quarter. Comerica Bank owned about 0.11% of Sysco Corporation worth $29,330,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Legal & General Group Plc increased its holdings in Sysco Corporation by 6.7% during the 2nd quarter. Legal & General Group Plc now owns 3,000,879 shares of the company’s stock worth $151,026,000 after purchasing an additional 188,063 shares during the period. IMS Capital Management increased its holdings in Sysco Corporation by 4.4% during the 2nd quarter. IMS Capital Management now owns 6,112 shares of the company’s stock worth $308,000 after purchasing an additional 260 shares during the period. Arcadia Investment Management Corp MI increased its holdings in Sysco Corporation by 10.7% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 2,336 shares of the company’s stock worth $118,000 after purchasing an additional 225 shares during the period. State of Wisconsin Investment Board increased its holdings in Sysco Corporation by 48.8% during the 2nd quarter. State of Wisconsin Investment Board now owns 1,073,387 shares of the company’s stock worth $54,024,000 after purchasing an additional 352,190 shares during the period. Finally, Dowling & Yahnke LLC increased its holdings in Sysco Corporation by 4.6% during the 2nd quarter. Dowling & Yahnke LLC now owns 25,202 shares of the company’s stock worth $1,268,000 after purchasing an additional 1,109 shares during the period. Institutional investors own 78.88% of the company’s stock.

In other Sysco Corporation news, insider Wayne Shurts sold 15,600 shares of the company’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $55.32, for a total value of $862,992.00. Following the completion of the transaction, the insider now owns 58,776 shares in the company, valued at $3,251,488.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William J. Delaney III sold 30,000 shares of the company’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $55.55, for a total transaction of $1,666,500.00. Following the completion of the transaction, the chief executive officer now 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. Insiders sold 160,200 shares of company stock valued at $8,397,012 in the last 90 days. 8.81% of the stock is currently owned by insiders.

SYY has been the topic of several research reports. Jefferies Group LLC restated a “hold” rating and set a $51.00 price objective on shares of Sysco Corporation in a report on Friday, August 4th. J P Morgan Chase & Co restated an “overweight” rating and set a $57.00 price objective on shares of Sysco Corporation in a report on Friday, June 23rd. BMO Capital Markets restated a “buy” rating and set a $60.00 price objective on shares of Sysco Corporation in a report on Tuesday, June 27th. Royal Bank Of Canada set a $50.00 price objective on Sysco Corporation and gave the stock a “hold” rating in a report on Friday, August 11th. Finally, Pivotal Research set a $53.00 price objective on Sysco Corporation and gave the stock a “hold” rating in a report on Sunday, August 13th. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $55.71.

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Sysco Corporation (NYSE:SYY) opened at 52.92 on Friday. The stock has a market capitalization of $28.05 billion, a P/E ratio of 25.44 and a beta of 0.52. The stock has a 50 day moving average price of $52.03 and a 200-day moving average price of $52.54. Sysco Corporation has a one year low of $47.15 and a one year high of $57.07.

Sysco Corporation (NYSE:SYY) last posted its earnings results on Monday, August 14th. The company reported $0.72 EPS for the quarter, beating the consensus estimate of $0.71 by $0.01. The firm had revenue of $14.40 billion for the quarter, compared to analyst estimates of $14.35 billion. Sysco Corporation had a return on equity of 53.25% and a net margin of 2.06%. Sysco Corporation’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.64 earnings per share. Analysts anticipate that Sysco Corporation will post $2.76 earnings per share for the current year.

The business also recently disclosed 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. The ex-dividend date is Thursday, October 5th. This represents a $1.32 annualized dividend and a yield of 2.49%. Sysco Corporation’s dividend payout ratio is presently 63.16%.

Sysco Corporation 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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Institutional Ownership by Quarter for Sysco Corporation (NYSE:SYY)

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