PNC Financial Services Group Inc. grew its position in Sysco Corporation (NYSE:SYY) by 122.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,632,095 shares of the company’s stock after acquiring an additional 898,008 shares during the quarter. PNC Financial Services Group Inc. owned about 0.30% of Sysco Corporation worth $82,144,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Kistler Tiffany Companies LLC lifted its holdings 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 purchasing an additional 12 shares during the period. Buckingham Asset Management LLC lifted its holdings 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 purchasing an additional 16 shares during the period. Schnieders Capital Management LLC lifted its holdings 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 purchasing an additional 18 shares during the period. Blue Chip Partners Inc. lifted its holdings 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 purchasing an additional 18 shares during the period. Finally, Northwest Quadrant Wealth Management LLC lifted its holdings 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 purchasing an additional 29 shares during the period. 79.91% of the stock is owned by institutional investors and hedge funds.

In other Sysco Corporation news, insider Paul T. Moskowitz sold 16,667 shares of the business’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $54.12, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William J. Delaney III sold 30,000 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $20,303,712. The disclosure for this sale can be found here. Insiders have sold a total of 2,141,381 shares of company stock valued at $114,829,988 in the last quarter. 8.81% of the stock is currently owned by insiders.

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Shares of Sysco Corporation (NYSE:SYY) opened at 54.24 on Thursday. The firm has a 50-day moving average price of $52.97 and a 200-day moving average price of $52.70. The firm has a market cap of $28.63 billion, a P/E ratio of 26.08 and a beta of 0.52. Sysco Corporation has a 12-month low of $47.15 and a 12-month high of $57.07.

Sysco Corporation (NYSE:SYY) last announced its quarterly earnings results on Monday, August 14th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.01. Sysco Corporation had a return on equity of 53.25% and a net margin of 2.06%. The company had revenue of $14.40 billion during the quarter, compared to analyst estimates of $14.35 billion. During the same quarter in the previous year, the firm posted $0.64 EPS. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. On average, equities research analysts expect that Sysco Corporation will post $2.76 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 6th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.32 dividend on an annualized basis and a yield of 2.43%. Sysco Corporation’s dividend payout ratio (DPR) is presently 63.16%.

Several brokerages recently weighed in on SYY. Wells Fargo & Company reaffirmed a “buy” rating on shares of Sysco Corporation in a report on Friday, June 23rd. BidaskClub downgraded Sysco Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Jefferies Group LLC reaffirmed a “hold” rating and set a $51.00 price target on shares of Sysco Corporation in a report on Friday, August 4th. BMO Capital Markets set a $60.00 price target on Sysco Corporation and gave the stock a “buy” rating in a report on Thursday, August 3rd. Finally, Pivotal Research set a $53.00 price target on Sysco Corporation and gave the stock a “hold” rating in a report on Sunday, August 13th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Sysco Corporation presently has an average rating of “Hold” and a consensus target price of $56.17.

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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