Manning & Napier Advisors LLC increased its stake in shares of Sysco Corporation (NYSE:SYY) by 1.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 126,554 shares of the company’s stock after purchasing an additional 1,894 shares during the period. Manning & Napier Advisors LLC’s holdings in Sysco Corporation were worth $6,827,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Kistler Tiffany Companies LLC grew its stake in 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 during the period. Schnieders Capital Management LLC grew its stake in Sysco Corporation by 0.4% in the 2nd quarter. Schnieders Capital Management LLC now owns 4,070 shares of the company’s stock worth $205,000 after acquiring an additional 18 shares during the period. Blue Chip Partners Inc. grew its stake in Sysco Corporation by 0.6% in the 2nd quarter. Blue Chip Partners Inc. now owns 2,967 shares of the company’s stock worth $149,000 after acquiring an additional 18 shares during the period. Northwest Quadrant Wealth Management LLC grew its stake in Sysco Corporation by 0.6% in the 2nd quarter. Northwest Quadrant Wealth Management LLC now owns 5,169 shares of the company’s stock worth $269,000 after acquiring an additional 29 shares during the period. Finally, Keel Point LLC grew its stake in Sysco Corporation by 0.8% in the 2nd quarter. Keel Point LLC now owns 5,782 shares of the company’s stock worth $291,000 after acquiring an additional 47 shares during the period. Hedge funds and other institutional investors own 80.30% of the company’s stock.

Shares of Sysco Corporation (NYSE:SYY) traded up $0.41 during midday trading on Friday, hitting $54.89. 2,739,586 shares of the stock traded hands, compared to its average volume of 2,546,478. Sysco Corporation has a one year low of $48.85 and a one year high of $57.23. The stock has a market cap of $28,600.77, a PE ratio of 21.53, a PEG ratio of 2.46 and a beta of 0.53. The company has a debt-to-equity ratio of 3.77, a current ratio of 1.40 and a quick ratio of 0.88.

Sysco Corporation (NYSE:SYY) last announced its quarterly earnings data on Monday, November 6th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.02. Sysco Corporation had a net margin of 2.12% and a return on equity of 58.47%. The company had revenue of $14.65 billion during the quarter, compared to analysts’ expectations of $14.43 billion. During the same period in the previous year, the company earned $0.67 EPS. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. sell-side analysts forecast that Sysco Corporation will post 2.77 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 5th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 2.62%. This is a boost from Sysco Corporation’s previous quarterly dividend of $0.33. Sysco Corporation’s dividend payout ratio is 60.00%.

In related news, insider Wayne Shurts sold 15,600 shares of the company’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $51.76, for a total transaction of $807,456.00. Following the completion of the sale, the insider now directly owns 58,776 shares of the company’s stock, valued at approximately $3,042,245.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul T. Moskowitz sold 16,667 shares of the company’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $54.12, for a total transaction of $902,018.04. Following the sale, the insider now directly owns 61,936 shares of the company’s stock, valued at $3,351,976.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,275,781 shares of company stock valued at $122,319,128. 9.60% of the stock is owned by corporate insiders.

SYY has been the subject of several recent analyst reports. BMO Capital Markets set a $60.00 target price on shares of Sysco Corporation and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Jefferies Group LLC reaffirmed a “hold” rating and issued a $51.00 target price on shares of Sysco Corporation in a research note on Friday, August 4th. Royal Bank Of Canada set a $50.00 target price on shares of Sysco Corporation and gave the stock a “hold” rating in a research note on Friday, August 11th. Pivotal Research set a $53.00 target price on shares of Sysco Corporation and gave the stock a “hold” rating in a research note on Sunday, August 13th. Finally, Wells Fargo & Company reaffirmed a “buy” rating on shares of Sysco Corporation in a research note on Monday, August 14th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $56.42.

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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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