Acrospire Investment Management LLC boosted its position in shares of Sysco Corporation (NYSE:SYY) by 84.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,400 shares of the company’s stock after purchasing an additional 1,100 shares during the period. Acrospire Investment Management LLC’s holdings in Sysco Corporation were worth $121,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of SYY. TrimTabs Asset Management LLC grew its holdings in Sysco Corporation by 88.7% during the 1st 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 grew its holdings in Sysco Corporation by 10.7% during the 2nd 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. Manchester Capital Management LLC grew its holdings in Sysco Corporation by 13.4% during the 2nd 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. Kistler Tiffany Companies LLC grew its holdings in Sysco Corporation by 0.4% during the 2nd 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. Finally, Blue Chip Partners Inc. grew its holdings in Sysco Corporation by 0.6% during the 2nd quarter. Blue Chip Partners Inc. now owns 2,967 shares of the company’s stock valued at $149,000 after purchasing an additional 18 shares during the last quarter. Institutional investors own 79.91% of the company’s stock.

In other Sysco Corporation news, Director Trian Fund Management, L.P. acquired 889,561 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The stock was purchased at an average price of $53.68 per share, for a total transaction of $47,751,634.48. Following the completion of the acquisition, the director now owns 5,529 shares of the company’s stock, valued at approximately $296,796.72. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 completion of the transaction, the chief executive officer now owns 406,725 shares of the company’s stock, valued at approximately $20,303,712. The disclosure for this sale can be found here. Insiders sold 2,141,381 shares of company stock valued at $114,829,988 in the last 90 days. Company insiders own 8.81% of the company’s stock.

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Sysco Corporation (SYY) opened at 54.24 on Thursday. The stock’s 50 day moving average is $52.97 and its 200-day moving average is $52.70. The company has a market capitalization of $28.63 billion, a P/E 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 released its quarterly earnings results on Monday, August 14th. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. The business had revenue of $14.40 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the firm earned $0.64 EPS. On average, analysts expect that Sysco Corporation will post $2.76 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 6th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend is Thursday, October 5th. Sysco Corporation’s dividend payout ratio (DPR) is currently 63.16%.

Several equities analysts recently commented on the stock. Wells Fargo & Company reiterated a “buy” rating on shares of Sysco Corporation in a report on Monday, August 14th. Zacks Investment Research downgraded shares of Sysco Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. 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. BidaskClub downgraded shares of Sysco Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. Finally, Bank of America Corporation restated a “buy” rating and issued a $61.00 target price on shares of Sysco Corporation in a research note on Monday, June 26th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Sysco Corporation currently has an average rating of “Hold” and a consensus price target of $56.17.

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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