Northern Trust Corp trimmed its holdings in shares of SYSCO Co. (NYSE:SYY) by 0.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,134,087 shares of the company’s stock after selling 10,790 shares during the quarter. Northern Trust Corp’s holdings in SYSCO were worth $418,896,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of SYY. Blue Chip Partners Inc. acquired a new position in SYSCO during the second quarter worth $104,000. Quad Cities Investment Group LLC acquired a new position in SYSCO during the second quarter worth $111,000. Flagship Harbor Advisors LLC acquired a new position in SYSCO during the second quarter worth $121,000. Private Capital Group LLC increased its position in SYSCO by 970.2% during the first quarter. Private Capital Group LLC now owns 2,044 shares of the company’s stock worth $123,000 after buying an additional 1,853 shares during the last quarter. Finally, Fort L.P. acquired a new position in SYSCO during the second quarter worth $123,000. 80.14% of the stock is currently owned by hedge funds and other institutional investors.

In related news, SVP Brian R. Todd sold 9,147 shares of SYSCO stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $73.82, for a total transaction of $675,231.54. Following the sale, the senior vice president now directly owns 11,747 shares of the company’s stock, valued at $867,163.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Joel T. Grade sold 17,438 shares of SYSCO stock in a transaction dated Friday, June 29th. The stock was sold at an average price of $68.36, for a total value of $1,192,061.68. Following the sale, the chief financial officer now directly owns 56,867 shares in the company, valued at $3,887,428.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,987,249 shares of company stock worth $298,572,105. 9.60% of the stock is currently owned by company insiders.

Several research firms have commented on SYY. BMO Capital Markets increased their target price on shares of SYSCO from $74.00 to $81.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 14th. Loop Capital increased their target price on shares of SYSCO to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, August 14th. Wells Fargo & Co increased their target price on shares of SYSCO from $71.00 to $80.00 and gave the stock a “$70.32” rating in a research report on Wednesday, July 18th. They noted that the move was a valuation call. ValuEngine raised shares of SYSCO from a “hold” rating to a “buy” rating in a research report on Tuesday, June 26th. Finally, Morgan Stanley increased their target price on shares of SYSCO from $67.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. SYSCO currently has an average rating of “Hold” and an average target price of $72.42.

Shares of NYSE:SYY opened at $72.97 on Friday. The stock has a market capitalization of $38.09 billion, a PE ratio of 24.35, a price-to-earnings-growth ratio of 1.98 and a beta of 0.54. SYSCO Co. has a 52-week low of $52.30 and a 52-week high of $75.98. The company has a debt-to-equity ratio of 3.01, a quick ratio of 0.74 and a current ratio of 1.21.

SYSCO (NYSE:SYY) last issued its quarterly earnings results on Monday, August 13th. The company reported $0.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.01. The company had revenue of $15.32 billion for the quarter, compared to the consensus estimate of $15.30 billion. SYSCO had a return on equity of 68.15% and a net margin of 2.44%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same period last year, the business posted $0.72 earnings per share. sell-side analysts predict that SYSCO Co. will post 3.49 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 26th. Stockholders of record on Friday, October 5th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.97%. The ex-dividend date is Thursday, October 4th. SYSCO’s dividend payout ratio is currently 45.86%.

SYSCO Company Profile

Sysco Corporation, through its subsidiaries, markets and distributes a range of food and related products primarily to the foodservice or food-away-from-home industry. It operates through three segments: U.S. Foodservice Operations, International Foodservice Operations, and SYGMA. The company distributes a line of frozen foods, such as meats, seafood, fully prepared entrees, fruits, vegetables, and desserts; a line of canned and dry foods; fresh meats and seafood; dairy products; beverage products; imported specialties; and fresh produce.

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Institutional Ownership by Quarter for SYSCO (NYSE:SYY)

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