Hourglass Capital LLC lessened its holdings in shares of Sysco Corporation (NYSE:SYY) by 1.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,210 shares of the company’s stock after selling 410 shares during the period. Hourglass Capital LLC’s holdings in Sysco Corporation were worth $1,269,000 at the end of the most recent reporting period.

Other large 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% during the first quarter. North Star Investment Management Corp. now owns 1,944 shares of the company’s stock valued at $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% during the first quarter. TrimTabs Asset Management LLC now owns 2,162 shares of the company’s stock valued at $112,000 after buying an additional 1,016 shares during the period. Arcadia Investment Management Corp MI boosted its position in shares of Sysco Corporation by 10.7% during the second quarter. Arcadia Investment Management Corp MI now owns 2,336 shares of the company’s stock valued at $118,000 after buying an additional 225 shares during the period. Kistler Tiffany Companies LLC boosted its position in shares of Sysco Corporation by 0.4% during the first quarter. Kistler Tiffany Companies LLC now owns 2,903 shares of the company’s stock valued at $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% during the first quarter. Blue Chip Partners Inc. now owns 2,949 shares of the company’s stock valued at $153,000 after buying an additional 19 shares during the period. Institutional investors and hedge funds own 79.97% of the company’s stock.

In related news, CEO William J. Delaney III sold 30,000 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $51.31, for a total transaction of $1,539,300.00. Following the completion of the transaction, the chief executive officer now owns 406,725 shares of the company’s stock, valued at approximately $20,869,059.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Wayne Shurts sold 15,600 shares of the stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $50.87, for a total transaction of $793,572.00. Following the transaction, the insider now directly owns 58,776 shares of the company’s stock, valued at approximately $2,989,935.12. The disclosure for this sale can be found here. Insiders have sold a total of 106,800 shares of company stock valued at $5,436,180 in the last ninety days. 8.81% of the stock is currently owned by corporate insiders.

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Shares of Sysco Corporation (NYSE SYY) opened at 52.85 on Wednesday. The stock’s 50 day moving average is $52.09 and its 200 day moving average is $52.54. The company has a market cap of $28.01 billion, a P/E ratio of 25.41 and a beta of 0.52. Sysco Corporation has a 1-year low of $47.15 and a 1-year high of $57.07.

Sysco Corporation (NYSE:SYY) last posted its quarterly earnings results on Monday, August 14th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.01. The business had revenue of $14.40 billion during the quarter, compared to analysts’ expectations of $14.35 billion. Sysco Corporation had a net margin of 2.06% and a return on equity of 53.25%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.64 EPS. On average, analysts predict 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. Investors of record on Friday, October 6th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.50%. Sysco Corporation’s payout ratio is currently 63.16%.

Several research analysts have issued reports on SYY shares. Zacks Investment Research lowered Sysco Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Royal Bank Of Canada set a $50.00 target price on Sysco Corporation and gave the company a “hold” rating in a research report on Friday, August 11th. Bank of America Corporation restated a “buy” rating and set a $61.00 target price on shares of Sysco Corporation in a research report on Monday, June 26th. Wells Fargo & Company restated a “buy” rating on shares of Sysco Corporation in a research report on Monday, August 14th. Finally, J P Morgan Chase & Co restated an “overweight” rating and set a $57.00 target price on shares of Sysco Corporation in a research report on Friday, June 23rd. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Sysco Corporation presently has an average rating of “Hold” and a consensus target price of $56.17.

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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