Benin Management CORP boosted its position in shares of Sysco Corporation (NYSE:SYY) by 9.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,700 shares of the company’s stock after buying an additional 4,500 shares during the period. Sysco Corporation comprises 1.1% of Benin Management CORP’s holdings, making the stock its 22nd largest position. Benin Management CORP’s holdings in Sysco Corporation were worth $2,602,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of SYY. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Sysco Corporation by 27.8% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 36,866 shares of the company’s stock worth $1,914,000 after buying an additional 8,021 shares during the period. Commerzbank Aktiengesellschaft FI raised its stake in shares of Sysco Corporation by 402.9% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 103,770 shares of the company’s stock worth $5,388,000 after buying an additional 83,136 shares during the period. Suntrust Banks Inc. raised its stake in shares of Sysco Corporation by 2.6% in the first quarter. Suntrust Banks Inc. now owns 242,423 shares of the company’s stock worth $12,585,000 after buying an additional 6,218 shares during the period. Citizens Financial Group Inc. RI raised its stake in shares of Sysco Corporation by 1,233.5% in the first quarter. Citizens Financial Group Inc. RI now owns 157,557 shares of the company’s stock worth $8,181,000 after buying an additional 145,742 shares during the period. Finally, Northern Capital Management LLC purchased a new stake in shares of Sysco Corporation during the first quarter worth approximately $728,000. Institutional investors own 78.38% of the company’s stock.

Sysco Corporation (SYY) traded up 1.677% during mid-day trading on Friday, hitting $51.723. The company had a trading volume of 1,808,272 shares. The firm has a market capitalization of $27.68 billion, a PE ratio of 27.266 and a beta of 0.52. Sysco Corporation has a 12-month low of $47.15 and a 12-month high of $57.07. The company’s 50 day moving average price is $50.96 and its 200-day moving average price is $52.62.

Sysco Corporation (NYSE:SYY) last posted its earnings results on Monday, May 8th. The company reported $0.51 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.51. Sysco Corporation had a net margin of 1.93% and a return on equity of 47.28%. The firm had revenue of $13.52 billion for the quarter, compared to analysts’ expectations of $13.14 billion. During the same quarter last year, the firm earned $0.46 EPS. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. On average, analysts forecast that Sysco Corporation will post $2.47 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Shareholders 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 annualized dividend and a dividend yield of 2.59%. Sysco Corporation’s dividend payout ratio is currently 69.47%.

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A number of analysts have recently commented on SYY shares. Zacks Investment Research lowered Sysco Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Bank of America Corporation restated a “buy” rating and issued a $61.00 price target on shares of Sysco Corporation in a report on Monday, June 26th. BMO Capital Markets upgraded Sysco Corporation from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $56.00 to $60.00 in a report on Thursday, May 4th. J P Morgan Chase & Co restated an “overweight” rating and issued a $57.00 price target on shares of Sysco Corporation in a report on Friday, June 23rd. Finally, Barclays PLC restated an “equal weight” rating and issued a $57.00 price target (up from $53.00) on shares of Sysco Corporation in a report on Tuesday, May 9th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $56.02.

In other news, CEO William J. Delaney III sold 30,000 shares of the firm’s stock in a transaction that occurred 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 is available at the SEC website. Also, insider Wayne Shurts sold 15,600 shares of the firm’s stock in a transaction that occurred 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 three months, insiders have sold 152,400 shares of company stock worth $8,121,300. Insiders own 8.81% of the company’s stock.

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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