Yacktman Asset Management LP lowered its stake in shares of Sysco Corporation (NYSE:SYY) by 0.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,972,313 shares of the company’s stock after selling 75,444 shares during the quarter. Sysco Corporation comprises about 5.4% of Yacktman Asset Management LP’s holdings, making the stock its 10th largest position. Yacktman Asset Management LP owned 2.05% of Sysco Corporation worth $552,236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of SYY. BlackRock Inc. increased its stake in shares of Sysco Corporation by 2,088.2% during the 1st quarter. BlackRock Inc. now owns 32,207,618 shares of the company’s stock valued at $1,672,219,000 after acquiring an additional 30,735,711 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Sysco Corporation by 86.7% during the 1st quarter. Victory Capital Management Inc. now owns 2,426,247 shares of the company’s stock valued at $125,971,000 after acquiring an additional 1,126,573 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Sysco Corporation by 2.9% during the 1st quarter. Vanguard Group Inc. now owns 37,910,943 shares of the company’s stock valued at $1,968,336,000 after acquiring an additional 1,064,162 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Sysco Corporation by 18.3% during the 1st quarter. Bank of America Corp DE now owns 4,745,874 shares of the company’s stock valued at $246,405,000 after acquiring an additional 733,433 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Sysco Corporation by 21.1% during the 1st quarter. American Century Companies Inc. now owns 3,424,940 shares of the company’s stock valued at $177,823,000 after acquiring an additional 596,224 shares during the last quarter. 79.97% of the stock is owned by institutional investors.

In other Sysco Corporation news, CEO William J. Delaney III sold 30,000 shares of Sysco Corporation stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 406,725 shares of the company’s stock, valued at approximately $20,303,712. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Wayne Shurts sold 15,600 shares of Sysco Corporation stock in a transaction that occurred on Tuesday, June 13th. The stock was 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 directly owns 58,776 shares in the company, valued at $3,251,488.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 152,400 shares of company stock worth $7,965,672. Company insiders own 8.81% of the company’s stock.

Sysco Corporation (NYSE SYY) opened at 52.92 on Monday. Sysco Corporation has a 12-month low of $47.15 and a 12-month high of $57.07. The stock has a market cap of $28.05 billion, a PE ratio of 25.44 and a beta of 0.52. The firm has a 50-day moving average price of $52.03 and a 200-day moving average price of $52.54.

Sysco Corporation (NYSE:SYY) last issued its quarterly earnings results on Monday, August 14th. The company reported $0.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.01. The company had revenue of $14.40 billion for the quarter, compared to the consensus estimate of $14.35 billion. Sysco Corporation had a return on equity of 53.25% and a net margin of 2.06%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.64 EPS. Analysts forecast that Sysco Corporation will post $2.76 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 6th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.49%. The ex-dividend date of this dividend is Thursday, October 5th. Sysco Corporation’s dividend payout ratio is currently 63.16%.

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A number of research firms have recently commented on SYY. BidaskClub downgraded shares of Sysco Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. Loop Capital began coverage on shares of Sysco Corporation in a research note on Monday, May 15th. They set a “buy” rating and a $61.00 price objective for the company. Wells Fargo & Company reaffirmed a “buy” rating on shares of Sysco Corporation in a research note on Friday, June 23rd. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $57.00 price objective on shares of Sysco Corporation in a research note on Friday, June 23rd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $51.00 price objective on shares of Sysco Corporation in a research note on Friday, August 4th. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $55.71.

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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