NBT Bank N A NY continued to hold its position in Sysco Corporation (NYSE:SYY) during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 16,514 shares of the company’s stock at the end of the 2nd quarter. NBT Bank N A NY’s holdings in Sysco Corporation were worth $831,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings 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 worth $1,968,336,000 after buying an additional 1,064,162 shares during the last quarter. BlackRock Inc. grew its stake in shares of Sysco Corporation by 2,088.2% during the first 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 in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Sysco Corporation by 1.2% during the first quarter. Ameriprise Financial Inc. now owns 9,837,807 shares of the company’s stock valued at $510,776,000 after acquiring an additional 118,939 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Sysco Corporation by 6.1% during the first quarter. Bank of New York Mellon Corp now owns 6,688,003 shares of the company’s stock valued at $347,241,000 after acquiring an additional 385,492 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Sysco Corporation by 47.6% during the second quarter. American Century Companies Inc. now owns 5,054,930 shares of the company’s stock valued at $254,415,000 after acquiring an additional 1,629,990 shares in the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

Several brokerages have recently weighed in on SYY. Wells Fargo & Company restated a “buy” rating on shares of Sysco Corporation in a research note on Friday, June 23rd. BidaskClub cut shares of Sysco Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Jefferies Group LLC reissued a “hold” rating and issued a $51.00 target price on shares of Sysco Corporation in a report on Friday, August 4th. BMO Capital Markets set a $60.00 target price on shares of Sysco Corporation and gave the stock a “buy” rating in a report on Thursday, August 3rd. Finally, Pivotal Research set a $53.00 target price on shares of Sysco Corporation and gave the stock a “hold” rating in a report on Sunday, August 13th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $56.17.

In other news, Director Trian Fund Management, L.P. bought 889,561 shares of the stock in a transaction on Tuesday, September 19th. The stock was purchased at an average price of $53.68 per share, with a total value of $47,751,634.48. Following the completion of the purchase, the director now owns 5,529 shares of the company’s stock, valued at $296,796.72. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO William J. Delaney III sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $49.92, for a total transaction 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 approximately $20,303,712. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,124,714 shares of company stock valued at $59,944,142. 8.81% of the stock is currently owned by insiders.

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Sysco Corporation (SYY) opened at 54.39 on Thursday. The firm has a market cap of $28.71 billion, a price-to-earnings ratio of 26.15 and a beta of 0.52. The firm has a 50-day moving average of $52.31 and a 200 day moving average of $52.57. Sysco Corporation has a 52-week low of $47.15 and a 52-week 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, topping the Zacks’ consensus estimate of $0.71 by $0.01. The business had revenue of $14.40 billion during the quarter, compared to the consensus estimate of $14.35 billion. Sysco Corporation had a net margin of 2.06% and a return on equity of 53.25%. Sysco Corporation’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 earnings per share. On average, equities research analysts forecast that Sysco Corporation will post $2.76 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 6th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend is Thursday, October 5th. Sysco Corporation’s dividend payout ratio (DPR) is 63.16%.

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.

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

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