Cambridge Financial Group Inc. lifted its stake in Sysco Corporation (NYSE:SYY) by 96.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 219,407 shares of the company’s stock after acquiring an additional 107,753 shares during the period. Sysco Corporation accounts for 5.9% of Cambridge Financial Group Inc.’s portfolio, making the stock its largest position. Cambridge Financial Group Inc.’s holdings in Sysco Corporation were worth $11,043,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TrimTabs Asset Management LLC raised its position in shares of Sysco Corporation by 88.7% in the 1st quarter. TrimTabs Asset Management LLC now owns 2,162 shares of the company’s stock worth $112,000 after acquiring an additional 1,016 shares in the last quarter. Arcadia Investment Management Corp MI raised its position in shares of Sysco Corporation by 10.7% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 2,336 shares of the company’s stock worth $118,000 after acquiring an additional 225 shares in the last quarter. Acrospire Investment Management LLC raised its position in shares of Sysco Corporation by 84.6% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,400 shares of the company’s stock worth $121,000 after acquiring an additional 1,100 shares in the last quarter. Manchester Capital Management LLC raised its position in shares of Sysco Corporation by 13.4% in the 2nd quarter. Manchester Capital Management LLC now owns 2,538 shares of the company’s stock worth $128,000 after acquiring an additional 300 shares in the last quarter. Finally, Kistler Tiffany Companies LLC raised its position in shares of Sysco Corporation by 0.4% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,915 shares of the company’s stock worth $147,000 after acquiring an additional 12 shares in the last quarter. 80.65% of the stock is owned by hedge funds and other institutional investors.

Sysco Corporation (NYSE SYY) opened at 54.84 on Thursday. The company’s 50-day moving average price is $53.76 and its 200 day moving average price is $52.86. The stock has a market capitalization of $28.95 billion, a P/E ratio of 26.37 and a beta of 0.52. 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 earnings results on Monday, August 14th. The company reported $0.72 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.01. Sysco Corporation had a return on equity of 53.25% and a net margin of 2.06%. The business had revenue of $14.40 billion for the quarter, compared to analysts’ expectations of $14.35 billion. During the same quarter in the previous year, the firm earned $0.64 earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year. Equities research analysts expect 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. Stockholders of record on Friday, October 6th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Thursday, October 5th. Sysco Corporation’s dividend payout ratio (DPR) is currently 63.16%.

In other news, CEO William J. Delaney III sold 118,200 shares of Sysco Corporation stock in a transaction dated Tuesday, September 26th. The stock was sold at an average price of $54.06, for a total transaction of $6,389,892.00. Following the sale, the chief executive officer now owns 494,925 shares in the company, valued at $26,755,645.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul T. Moskowitz sold 16,667 shares of Sysco Corporation stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $54.12, for a total value of $902,018.04. Following the sale, the insider now owns 61,936 shares in the company, valued at approximately $3,351,976.32. The disclosure for this sale can be found here. Insiders have sold 2,087,981 shares of company stock worth $112,142,420 in the last quarter. Insiders own 9.60% of the company’s stock.

Several research firms have recently commented on SYY. Wells Fargo & Company reissued a “buy” rating on shares of Sysco Corporation in a research report on Friday, June 23rd. BidaskClub lowered Sysco Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. Jefferies Group LLC reissued a “hold” rating and issued a $51.00 price target on shares of Sysco Corporation in a research report on Friday, August 4th. Pivotal Research set a $53.00 price target on Sysco Corporation and gave the stock a “hold” rating in a research report on Sunday, August 13th. Finally, BMO Capital Markets set a $60.00 price target on Sysco Corporation and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $56.42.

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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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