Affinity Investment Advisors LLC bought a new stake in shares of Sysco Corporation (NYSE:SYY) during the second quarter, Holdings Channel reports. The institutional investor bought 75,568 shares of the company’s stock, valued at approximately $3,803,000.

A number of other large investors have also recently made changes to their positions in SYY. North Star Investment Management Corp. increased its stake in Sysco Corporation by 81.2% in the first quarter. North Star Investment Management Corp. now owns 1,944 shares of the company’s stock valued at $101,000 after buying an additional 871 shares during the last quarter. TrimTabs Asset Management LLC increased its stake in Sysco Corporation by 88.7% in the first quarter. TrimTabs Asset Management LLC now owns 2,162 shares of the company’s stock valued at $112,000 after buying an additional 1,016 shares during the last quarter. Howe & Rusling Inc. increased its stake in Sysco Corporation by 81.1% in the first quarter. Howe & Rusling Inc. now owns 2,595 shares of the company’s stock valued at $135,000 after buying an additional 1,162 shares during the last quarter. Kistler Tiffany Companies LLC increased its stake in Sysco Corporation by 0.4% in the first quarter. Kistler Tiffany Companies LLC now owns 2,903 shares of the company’s stock valued at $151,000 after buying an additional 13 shares during the last quarter. Finally, Blue Chip Partners Inc. increased its stake in Sysco Corporation by 0.6% in the first quarter. Blue Chip Partners Inc. now owns 2,949 shares of the company’s stock valued at $153,000 after buying an additional 19 shares during the last quarter. Institutional investors own 78.49% of the company’s stock.

Shares of Sysco Corporation (NYSE:SYY) traded up 0.41% on Tuesday, hitting $51.30. 1,295,084 shares of the company traded hands. Sysco Corporation has a 12 month low of $47.15 and a 12 month high of $57.07. The company has a market capitalization of $27.46 billion, a PE ratio of 27.04 and a beta of 0.52. The stock’s 50-day moving average price is $50.96 and its 200-day moving average price is $52.58.

Sysco Corporation (NYSE:SYY) last issued its quarterly earnings results on Monday, August 14th. The company reported $0.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.01. The firm had revenue of $14.40 billion during the quarter, compared to analysts’ expectations of $14.35 billion. Sysco Corporation had a net margin of 1.93% and a return on equity of 47.28%. Sysco Corporation’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 EPS. On average, equities analysts predict that Sysco Corporation will post $2.47 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 6th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend is Thursday, October 5th. Sysco Corporation’s dividend payout ratio is currently 69.47%.

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Several equities research analysts have recently commented on SYY shares. Zacks Investment Research upgraded shares of Sysco Corporation from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a research note on Tuesday, May 9th. Loop Capital started coverage on shares of Sysco Corporation in a research note on Monday, May 15th. They set a “buy” rating and a $61.00 price objective for the company. BMO Capital Markets reiterated a “buy” rating and set a $60.00 price objective on shares of Sysco Corporation in a research note on Tuesday, June 27th. Bank of America Corporation reiterated a “buy” rating and set a $61.00 price objective on shares of Sysco Corporation in a research note on Monday, June 26th. Finally, Wells Fargo & Company reiterated a “buy” rating on shares of Sysco Corporation in a research note on Friday, June 23rd. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $56.02.

In related news, CEO William J. Delaney III sold 30,000 shares of the stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $55.55, for a total transaction of $1,666,500.00. Following the completion of the sale, the chief executive officer now owns 406,725 shares in the company, valued at approximately $22,593,573.75. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Wayne Shurts sold 15,600 shares of the stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $54.25, for a total transaction of $846,300.00. Following the sale, the insider now owns 58,776 shares of the company’s stock, valued at approximately $3,188,598. The disclosure for this sale can be found here. In the last quarter, insiders have sold 152,400 shares of company stock valued at $8,121,300. 8.81% of the stock is owned by company insiders.

Sysco Corporation Company 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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