Davidson Investment Advisors lessened its position in Sysco Corporation (NYSE:SYY) by 20.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,125 shares of the company’s stock after selling 1,816 shares during the quarter. Davidson Investment Advisors’ holdings in Sysco Corporation were worth $358,000 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 stock. Kistler Tiffany Companies LLC grew its stake in shares of Sysco Corporation by 0.4% during the second quarter. Kistler Tiffany Companies LLC now owns 2,915 shares of the company’s stock valued at $147,000 after buying an additional 12 shares during the last quarter. Buckingham Asset Management LLC grew its stake in shares of Sysco Corporation by 0.3% during the first quarter. Buckingham Asset Management LLC now owns 5,904 shares of the company’s stock valued at $307,000 after buying an additional 16 shares during the last quarter. Schnieders Capital Management LLC grew its stake in shares of Sysco Corporation by 0.4% during the second quarter. Schnieders Capital Management LLC now owns 4,070 shares of the company’s stock valued at $205,000 after buying an additional 18 shares during the last quarter. Blue Chip Partners Inc. grew its stake in shares of Sysco Corporation by 0.6% during the second quarter. Blue Chip Partners Inc. now owns 2,967 shares of the company’s stock valued at $149,000 after buying an additional 18 shares during the last quarter. Finally, Northwest Quadrant Wealth Management LLC grew its stake in shares of Sysco Corporation by 0.6% during the second quarter. Northwest Quadrant Wealth Management LLC now owns 5,169 shares of the company’s stock valued at $269,000 after buying an additional 29 shares during the last quarter. 79.91% of the stock is currently owned by institutional investors and hedge funds.

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SYY has been the topic of a number of recent research reports. 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. 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. BMO Capital Markets reaffirmed a “buy” rating and set a $60.00 price objective on shares of Sysco Corporation in a research note on Tuesday, June 27th. Royal Bank Of Canada set a $50.00 price objective on Sysco Corporation and gave the company a “hold” rating in a research note on Friday, August 11th. Finally, Pivotal Research set a $53.00 price objective on Sysco Corporation and gave the company a “hold” rating in a research note on Sunday, August 13th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $56.17.

Shares of Sysco Corporation (NYSE:SYY) opened at 54.24 on Thursday. The company has a 50 day moving average price of $52.97 and a 200 day moving average price of $52.70. The company has a market capitalization of $28.63 billion, a PE ratio of 26.08 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 announced its earnings results on Monday, August 14th. The company reported $0.72 earnings per share (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 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 was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.64 EPS. Equities analysts predict that Sysco Corporation will post $2.76 EPS for the current fiscal year.

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

In related news, CEO William J. Delaney III sold 30,000 shares of the company’s stock in a transaction dated 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 directly owns 406,725 shares in the company, valued at approximately $20,303,712. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Wayne Shurts sold 7,800 shares of the company’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $50.82, for a total transaction of $396,396.00. Following the transaction, the executive vice president now owns 58,776 shares in the company, valued at $2,986,996.32. The disclosure for this sale can be found here. Insiders have sold a total of 2,141,381 shares of company stock worth $114,829,988 over the last quarter. 8.81% of the stock is currently owned by insiders.

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.

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

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