Rafferty Asset Management LLC bought a new stake in shares of Sysco Corporation (NYSE:SYY) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 71,477 shares of the company’s stock, valued at approximately $3,597,000.

Other hedge funds have also added to or reduced their stakes in the company. Kistler Tiffany Companies LLC grew its position in shares of Sysco Corporation by 0.4% during the second quarter. Kistler Tiffany Companies LLC now owns 2,915 shares of the company’s stock worth $147,000 after acquiring an additional 12 shares during the last quarter. Buckingham Asset Management LLC grew its position in shares of Sysco Corporation by 0.3% during the first quarter. Buckingham Asset Management LLC now owns 5,904 shares of the company’s stock worth $307,000 after acquiring an additional 16 shares during the last quarter. Schnieders Capital Management LLC grew its position in shares of Sysco Corporation by 0.4% during the second quarter. Schnieders Capital Management LLC now owns 4,070 shares of the company’s stock worth $205,000 after acquiring an additional 18 shares during the last quarter. Blue Chip Partners Inc. grew its position in shares of Sysco Corporation by 0.6% during the second quarter. Blue Chip Partners Inc. now owns 2,967 shares of the company’s stock worth $149,000 after acquiring an additional 18 shares during the last quarter. Finally, Northwest Quadrant Wealth Management LLC grew its position in shares of Sysco Corporation by 0.6% during the second quarter. Northwest Quadrant Wealth Management LLC now owns 5,169 shares of the company’s stock worth $269,000 after acquiring an additional 29 shares during the last quarter. Hedge funds and other institutional investors own 79.91% of the company’s stock.

Shares of Sysco Corporation (NYSE:SYY) opened at 54.29 on Friday. The firm has a 50-day moving average of $53.06 and a 200-day moving average of $52.72. The firm has a market capitalization of $28.66 billion, a P/E ratio of 26.10 and a beta of 0.52. Sysco Corporation has a one year low of $47.15 and a one year high of $57.07.

Sysco Corporation (NYSE:SYY) last posted its quarterly earnings results on Monday, August 14th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.01. The business had revenue of $14.40 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the business earned $0.64 earnings per share. On average, equities analysts predict that Sysco Corporation will post $2.76 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 6th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend is Thursday, October 5th. Sysco Corporation’s dividend payout ratio is 63.16%.

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Several research firms have recently commented on SYY. BMO Capital Markets restated an “outperform” rating on shares of Sysco Corporation in a research report on Tuesday, September 12th. Zacks Investment Research lowered shares of Sysco Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Wells Fargo & Company restated a “buy” rating on shares of Sysco Corporation in a research report on Monday, August 14th. Pivotal Research set a $53.00 price target on shares of Sysco Corporation and gave the stock a “hold” rating in a research report on Sunday, August 13th. Finally, Royal Bank Of Canada set a $50.00 price target on shares of Sysco Corporation and gave the stock a “hold” rating in a research report on Friday, August 11th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Sysco Corporation has a consensus rating of “Hold” and an average price target of $56.17.

In related news, CEO William J. Delaney III sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $49.92, for a total value of $1,497,600.00. Following the transaction, the chief executive officer now owns 406,725 shares in the company, valued at $20,303,712. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Paul T. Moskowitz sold 16,667 shares of the firm’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $54.12, for a total value of $902,018.04. Following the completion of the transaction, the insider now owns 61,936 shares in the company, valued at approximately $3,351,976.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,141,381 shares of company stock worth $114,829,988. 8.81% of the stock is owned by company insiders.

Sysco Corporation 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.

Institutional Ownership by Quarter for Sysco Corporation (NYSE:SYY)

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