HM Payson & Co. reduced its stake in shares of Sysco Corporation (NYSE:SYY) by 7.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,184 shares of the company’s stock after selling 2,988 shares during the period. HM Payson & Co.’s holdings in Sysco Corporation were worth $2,035,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in SYY. Kistler Tiffany Companies LLC raised 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 worth $151,000 after buying an additional 13 shares during the last quarter. Buckingham Asset Management LLC raised its stake in Sysco Corporation by 0.3% in the first quarter. Buckingham Asset Management LLC now owns 5,904 shares of the company’s stock worth $307,000 after buying an additional 16 shares during the last quarter. Blue Chip Partners Inc. raised 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 worth $153,000 after buying an additional 19 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in Sysco Corporation by 1.2% in the first quarter. Sequoia Financial Advisors LLC now owns 4,198 shares of the company’s stock worth $218,000 after buying an additional 50 shares during the last quarter. Finally, Folger Nolan Fleming Douglas Capital Management Inc. raised its stake in Sysco Corporation by 0.3% in the first quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 22,445 shares of the company’s stock worth $1,165,000 after buying an additional 68 shares during the last quarter. Institutional investors own 78.38% of the company’s stock.

Sysco Corporation (NYSE SYY) traded up 1.40% during trading on Friday, hitting $51.58. The stock had a trading volume of 3,803,719 shares. The company has a 50-day moving average of $50.93 and a 200 day moving average of $52.61. Sysco Corporation has a 52-week low of $47.15 and a 52-week high of $57.07. The firm has a market cap of $27.61 billion, a P/E ratio of 27.19 and a beta of 0.52.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 6th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Thursday, October 5th. Sysco Corporation’s dividend payout ratio is presently 69.47%.

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A number of analysts recently issued reports on the company. Wells Fargo & Company reiterated a “buy” rating on shares of Sysco Corporation in a research note on Friday, June 23rd. BidaskClub lowered Sysco Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. Jefferies Group LLC reiterated a “hold” rating and set a $51.00 price objective on shares of Sysco Corporation in a research note on Friday, August 4th. Royal Bank Of Canada set a $50.00 price objective on Sysco Corporation and gave the company a “hold” rating in a research note on Friday. Finally, BMO Capital Markets set a $60.00 price objective on Sysco Corporation and gave the company a “buy” rating in a research note on Thursday, August 3rd. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $56.02.

In related news, EVP Wayne Shurts sold 7,800 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $55.30, for a total value of $431,340.00. Following the completion of the transaction, the executive vice president now owns 58,776 shares of the company’s stock, valued at $3,250,312.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William J. Delaney III sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $54.22, for a total transaction of $1,626,600.00. Following the completion of the transaction, the chief executive officer now directly owns 406,725 shares of the company’s stock, valued at approximately $22,052,629.50. The disclosure for this sale can be found here. Insiders have sold 152,400 shares of company stock valued at $8,121,300 in the last ninety days. 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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