ETRADE Capital Management LLC cut its stake in shares of Sysco Corporation (NYSE:SYY) by 34.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,037 shares of the company’s stock after selling 3,633 shares during the quarter. ETRADE Capital Management LLC’s holdings in Sysco Corporation were worth $354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently made changes to their positions in the company. TrimTabs Asset Management LLC lifted its position in 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 purchasing an additional 1,016 shares during the last quarter. Arcadia Investment Management Corp MI lifted its position in 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 purchasing an additional 225 shares during the last quarter. Acrospire Investment Management LLC lifted its position in Sysco Corporation by 84.6% during the second quarter. Acrospire Investment Management LLC now owns 2,400 shares of the company’s stock valued at $121,000 after purchasing an additional 1,100 shares during the last quarter. Manchester Capital Management LLC lifted its position in Sysco Corporation by 13.4% during 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 during the last quarter. Finally, Kistler Tiffany Companies LLC lifted its position in 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 purchasing an additional 12 shares during the last quarter. Institutional investors and hedge funds own 79.91% of the company’s stock.

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Shares of Sysco Corporation (NYSE:SYY) opened at 54.23 on Friday. Sysco Corporation has a one year low of $47.15 and a one year high of $57.07. The stock has a 50 day moving average of $53.15 and a 200-day moving average of $52.73. The company has a market capitalization of $28.63 billion, a price-to-earnings ratio of 26.07 and a beta of 0.52.

Sysco Corporation (NYSE:SYY) last posted its earnings results on Monday, August 14th. The company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. The firm had revenue of $14.40 billion during 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 quarterly 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. On average, equities analysts expect that Sysco Corporation will post $2.76 earnings per share for the current year.

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

Several equities research analysts have issued reports on SYY shares. Zacks Investment Research upgraded shares of Sysco Corporation from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research report on Tuesday, July 4th. BMO Capital Markets reiterated a “buy” rating and set a $60.00 target price on shares of Sysco Corporation in a research report on Tuesday, June 27th. Bank of America Corporation reiterated 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 reiterated a “buy” rating on shares of Sysco Corporation in a research report on Friday, June 23rd. Finally, BidaskClub lowered shares of Sysco Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $56.17.

In related news, insider Paul T. Moskowitz sold 16,667 shares of the firm’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $54.12, for a total value of $902,018.04. Following the completion of the sale, the insider now directly owns 61,936 shares in the company, valued at $3,351,976.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO William J. Delaney III sold 200,000 shares of the firm’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $54.24, for a total value of $10,848,000.00. Following the completion of the sale, the chief executive officer now owns 576,725 shares of the company’s stock, valued at $31,281,564. The disclosure for this sale can be found here. Insiders have sold a total of 2,141,381 shares of company stock valued at $114,829,988 over the last quarter. Corporate insiders own 8.81% of the company’s stock.

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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