Chemical Bank trimmed its position in Sysco Corporation (NYSE:SYY) by 11.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,118 shares of the company’s stock after selling 1,367 shares during the period. Chemical Bank’s holdings in Sysco Corporation were worth $509,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. TrimTabs Asset Management LLC lifted its holdings in shares of Sysco Corporation by 88.7% in the first quarter. TrimTabs Asset Management LLC now owns 2,162 shares of the company’s stock valued at $112,000 after purchasing an additional 1,016 shares in the last quarter. Arcadia Investment Management Corp MI lifted its holdings in shares of Sysco Corporation by 10.7% in the second quarter. Arcadia Investment Management Corp MI now owns 2,336 shares of the company’s stock valued at $118,000 after purchasing an additional 225 shares in the last quarter. Manchester Capital Management LLC lifted its holdings in shares of Sysco Corporation by 13.4% in the second quarter. Manchester Capital Management LLC now owns 2,538 shares of the company’s stock valued at $128,000 after purchasing an additional 300 shares in the last quarter. Kistler Tiffany Companies LLC raised its holdings in Sysco Corporation by 0.4% during the first quarter. Kistler Tiffany Companies LLC now owns 2,903 shares of the company’s stock worth $151,000 after acquiring an additional 13 shares in the last quarter. Finally, Blue Chip Partners Inc. raised its holdings in Sysco Corporation by 0.6% during the first quarter. Blue Chip Partners Inc. now owns 2,949 shares of the company’s stock worth $153,000 after acquiring an additional 19 shares in the last quarter. Institutional investors own 79.91% of the company’s stock.

Several analysts recently issued reports on SYY shares. BidaskClub lowered Sysco Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 9th. J P Morgan Chase & Co reiterated an “overweight” rating and set a $57.00 target price on shares of Sysco Corporation in a report on Friday, June 23rd. Wells Fargo & Company reiterated a “buy” rating on shares of Sysco Corporation in a report on Friday, June 23rd. Bank of America Corporation reiterated a “buy” rating and set a $61.00 target price on shares of Sysco Corporation in a report on Monday, June 26th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $60.00 target price on shares of Sysco Corporation in a report on Tuesday, June 27th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $56.17.

Shares of Sysco Corporation (NYSE SYY) opened at 53.95 on Friday. Sysco Corporation has a 1-year low of $47.15 and a 1-year high of $57.07. The company has a market cap of $28.48 billion, a price-to-earnings ratio of 25.94 and a beta of 0.52. The firm has a 50-day moving average price of $52.31 and a 200 day moving average price of $52.57.

Sysco Corporation (NYSE:SYY) last posted its 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. Sysco Corporation had a net margin of 2.06% and a return on equity of 53.25%. The firm had revenue of $14.40 billion for the quarter, compared to analysts’ expectations of $14.35 billion. During the same quarter last year, the firm earned $0.64 EPS. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, analysts predict that Sysco Corporation will post $2.76 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Shareholders 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 annualized dividend and a dividend yield of 2.45%. Sysco Corporation’s dividend payout ratio is currently 63.16%.

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 shares were sold at an average price of $49.92, for a total transaction of $1,497,600.00. Following the transaction, the chief executive officer now owns 406,725 shares of the company’s stock, valued at approximately $20,303,712. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William J. Delaney III sold 200,000 shares of Sysco Corporation stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $54.24, for a total transaction of $10,848,000.00. Following the transaction, the chief executive officer now directly owns 576,725 shares in the company, valued at approximately $31,281,564. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,124,714 shares of company stock worth $113,927,970. Insiders own 8.81% of the company’s stock.

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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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