Farmers Trust Co. cut its position in shares of Sysco Corporation (NYSE:SYY) by 6.7% during the second quarter, Holdings Channel reports. The firm owned 4,203 shares of the company’s stock after selling 300 shares during the period. Farmers Trust Co.’s holdings in Sysco Corporation were worth $212,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BKD Wealth Advisors LLC raised its position in Sysco Corporation by 6.4% in the second quarter. BKD Wealth Advisors LLC now owns 50,795 shares of the company’s stock worth $2,556,000 after buying an additional 3,049 shares during the period. Stock Yards Bank & Trust Co. increased its stake in shares of Sysco Corporation by 2.6% in the second quarter. Stock Yards Bank & Trust Co. now owns 4,859 shares of the company’s stock worth $244,000 after buying an additional 122 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of Sysco Corporation during the second quarter worth about $352,000. Xact Kapitalforvaltning AB increased its stake in shares of Sysco Corporation by 2.3% in the second quarter. Xact Kapitalforvaltning AB now owns 102,700 shares of the company’s stock worth $5,169,000 after buying an additional 2,314 shares during the period. Finally, Toth Financial Advisory Corp increased its stake in shares of Sysco Corporation by 0.4% in the second quarter. Toth Financial Advisory Corp now owns 124,999 shares of the company’s stock worth $6,291,000 after buying an additional 439 shares during the period. Hedge funds and other institutional investors own 78.49% of the company’s stock.

Shares of Sysco Corporation (NYSE:SYY) traded down 0.45% during trading on Wednesday, reaching $51.36. The company had a trading volume of 1,534,414 shares. Sysco Corporation has a 52-week low of $47.15 and a 52-week high of $57.07. The stock has a 50 day moving average of $51.01 and a 200 day moving average of $52.58. The stock has a market capitalization of $27.49 billion, a price-to-earnings ratio of 27.07 and a beta of 0.52.

Sysco Corporation (NYSE:SYY) last issued its earnings results on Monday, August 14th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.01. Sysco Corporation had a net margin of 2.06% and a return on equity of 52.09%. The firm had revenue of $14.40 billion for the quarter, compared to analysts’ expectations of $14.35 billion. During the same quarter last year, the company posted $0.64 earnings per share. Sysco Corporation’s revenue was up 5.5% on a year-over-year basis. Equities research analysts forecast that Sysco Corporation will post $2.76 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 6th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.56%. Sysco Corporation’s dividend payout ratio (DPR) is presently 63.16%.

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Several analysts have recently weighed in on the company. Wells Fargo & Company reissued a “buy” rating on shares of Sysco Corporation in a report on Monday. Zacks Investment Research downgraded Sysco Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. BMO Capital Markets raised Sysco Corporation from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $56.00 to $60.00 in a report on Thursday, May 4th. Jefferies Group LLC reissued a “hold” rating and issued a $51.00 target price (up from $50.00) on shares of Sysco Corporation in a report on Monday, May 8th. Finally, BidaskClub downgraded Sysco Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $56.02.

In other news, insider Wayne Shurts sold 15,600 shares of Sysco Corporation stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $55.32, for a total transaction of $862,992.00. Following the sale, the insider now owns 58,776 shares of the company’s stock, valued at $3,251,488.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO William J. Delaney III sold 30,000 shares of Sysco Corporation stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $55.55, for a total value of $1,666,500.00. Following the sale, the chief executive officer now directly owns 406,725 shares in the company, valued at approximately $22,593,573.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 122,400 shares of company stock worth $6,494,700. Corporate insiders own 8.81% of the company’s stock.

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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