Kayne Anderson Rudnick Investment Management LLC continued to hold its stake in shares of Sysco Corporation (NYSE:SYY) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,200 shares of the company’s stock at the close of the second quarter. Kayne Anderson Rudnick Investment Management LLC’s holdings in Sysco Corporation were worth $463,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Kistler Tiffany Companies LLC raised its holdings in Sysco Corporation by 0.4% in the second quarter. Kistler Tiffany Companies LLC now owns 2,915 shares of the company’s stock worth $147,000 after buying an additional 12 shares during the last quarter. Buckingham Asset Management LLC raised its holdings 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. Schnieders Capital Management LLC raised its holdings in Sysco Corporation by 0.4% in the second quarter. Schnieders Capital Management LLC now owns 4,070 shares of the company’s stock worth $205,000 after buying an additional 18 shares during the last quarter. Blue Chip Partners Inc. raised its holdings in Sysco Corporation by 0.6% in the second quarter. Blue Chip Partners Inc. now owns 2,967 shares of the company’s stock worth $149,000 after buying an additional 18 shares during the last quarter. Finally, First Interstate Bank raised its holdings in Sysco Corporation by 1.4% in the second quarter. First Interstate Bank now owns 4,975 shares of the company’s stock worth $250,000 after buying an additional 67 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

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In related news, insider Wayne Shurts sold 15,600 shares of the stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $50.87, for a total value of $793,572.00. Following the completion of the transaction, the insider now directly owns 58,776 shares of the company’s stock, valued at approximately $2,989,935.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William J. Delaney III sold 30,000 shares of the stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $49.92, for a total transaction of $1,497,600.00. Following the completion of the transaction, the chief executive officer now directly owns 406,725 shares of the company’s stock, valued at $20,303,712. The disclosure for this sale can be found here. Insiders sold a total of 1,724,714 shares of company stock valued at $92,456,142 over the last ninety days. 8.81% of the stock is currently owned by insiders.

Sysco Corporation (NYSE:SYY) opened at 53.37 on Friday. Sysco Corporation has a 12-month low of $47.15 and a 12-month high of $57.07. The stock has a market capitalization of $28.17 billion, a PE ratio of 25.66 and a beta of 0.52. The stock’s 50 day moving average is $52.31 and its 200 day moving average is $52.57.

Sysco Corporation (NYSE:SYY) last announced its quarterly earnings data on Monday, August 14th. The company reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.01. The firm had revenue of $14.40 billion during the quarter, compared to analyst estimates of $14.35 billion. Sysco Corporation had a net margin of 2.06% and a return on equity of 53.25%. Sysco Corporation’s revenue was up 5.5% on a year-over-year basis. During the same period last year, the firm posted $0.64 EPS. Equities analysts anticipate that Sysco Corporation will post $2.76 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 6th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend is Thursday, October 5th. Sysco Corporation’s payout ratio is currently 63.16%.

Several research analysts have issued reports on SYY shares. BidaskClub cut shares of Sysco Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 9th. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $57.00 target price on shares of Sysco Corporation in a report on Friday, June 23rd. Wells Fargo & Company reaffirmed a “buy” rating on shares of Sysco Corporation in a report on Friday, June 23rd. Bank of America Corporation reaffirmed a “buy” rating and issued a $61.00 target price on shares of Sysco Corporation in a report on Monday, June 26th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $60.00 target price on shares of Sysco Corporation in a report on Tuesday, June 27th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $56.17.

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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