IFP Advisors Inc cut its position in shares of Sysco Corporation (NYSE:SYY) by 5.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 40,438 shares of the company’s stock after selling 2,404 shares during the period. IFP Advisors Inc’s holdings in Sysco Corporation were worth $2,035,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. BlackRock Inc. boosted its stake in shares of Sysco Corporation by 2,088.2% in the first quarter. BlackRock Inc. now owns 32,207,618 shares of the company’s stock valued at $1,672,219,000 after buying an additional 30,735,711 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Sysco Corporation by 86.7% in the first quarter. Victory Capital Management Inc. now owns 2,426,247 shares of the company’s stock valued at $125,971,000 after buying an additional 1,126,573 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Sysco Corporation by 2.9% in the first quarter. Vanguard Group Inc. now owns 37,910,943 shares of the company’s stock valued at $1,968,336,000 after buying an additional 1,064,162 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Sysco Corporation by 18.3% in the first quarter. Bank of America Corp DE now owns 4,745,874 shares of the company’s stock valued at $246,405,000 after buying an additional 733,433 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Sysco Corporation by 21.1% in the first quarter. American Century Companies Inc. now owns 3,424,940 shares of the company’s stock valued at $177,823,000 after buying an additional 596,224 shares during the last quarter. Institutional investors own 78.84% of the company’s stock.

Shares of Sysco Corporation (NYSE SYY) opened at 52.67 on Friday. The company has a market cap of $27.92 billion, a PE ratio of 25.32 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 firm’s 50-day moving average price is $51.67 and its 200-day moving average price is $52.53.

Sysco Corporation (NYSE:SYY) last posted its quarterly earnings data on Monday, August 14th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.01. The company had revenue of $14.40 billion during the quarter, compared to analyst estimates of $14.35 billion. Sysco Corporation had a return on equity of 53.25% and a net margin of 2.06%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the company earned $0.64 earnings per share. Equities analysts predict that Sysco Corporation will post $2.76 EPS 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 paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.51%. The ex-dividend date is Thursday, October 5th. Sysco Corporation’s dividend payout ratio is 63.16%.

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Several brokerages recently commented on SYY. BidaskClub cut Sysco Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. Zacks Investment Research cut Sysco Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, May 10th. Barclays PLC reissued an “equal weight” rating and issued a $57.00 price target (up previously from $53.00) on shares of Sysco Corporation in a research note on Tuesday, May 9th. Royal Bank Of Canada boosted their price target on Sysco Corporation from $48.00 to $50.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 9th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $51.00 price target (up previously from $50.00) on shares of Sysco Corporation in a research note on Monday, May 8th. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $55.71.

In related news, CEO William J. Delaney III sold 30,000 shares of Sysco Corporation stock in a transaction on Wednesday, June 14th. The stock was 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 of the company’s stock, valued at $22,593,573.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Wayne Shurts sold 7,800 shares of Sysco Corporation stock in a transaction 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 sale, the executive vice president now directly owns 58,776 shares of the company’s stock, valued at approximately $3,250,312.80. The disclosure for this sale can be found here. Insiders have sold 160,200 shares of company stock valued at $8,397,012 in the last three months. 8.81% of the stock is owned by corporate insiders.

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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