Skandinaviska Enskilda Banken AB publ decreased its stake in Sysco Corporation (NYSE:SYY) by 7.9% during the first quarter, Holdings Channel reports. The firm owned 90,938 shares of the company’s stock after selling 7,830 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Sysco Corporation were worth $4,722,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kistler Tiffany Companies LLC increased its stake in Sysco Corporation by 0.4% in the first quarter. Kistler Tiffany Companies LLC now owns 2,903 shares of the company’s stock worth $151,000 after buying an additional 13 shares during the last quarter. Buckingham Asset Management LLC increased its stake 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. Blue Chip Partners Inc. increased its stake in Sysco Corporation by 0.6% in the first quarter. Blue Chip Partners Inc. now owns 2,949 shares of the company’s stock worth $153,000 after buying an additional 19 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in Sysco Corporation by 1.2% in the first quarter. Sequoia Financial Advisors LLC now owns 4,198 shares of the company’s stock worth $218,000 after buying an additional 50 shares during the last quarter. Finally, Folger Nolan Fleming Douglas Capital Management Inc. increased its stake in Sysco Corporation by 0.3% in the first quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 22,445 shares of the company’s stock worth $1,165,000 after buying an additional 68 shares during the last quarter. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Sysco Corporation (NYSE:SYY) traded up 1.40% during mid-day trading on Friday, hitting $51.58. 3,803,719 shares of the stock traded hands. The firm’s 50-day moving average is $50.93 and its 200-day moving average is $52.61. The company has a market cap of $27.61 billion, a price-to-earnings ratio of 27.19 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 6th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date is Thursday, October 5th. Sysco Corporation’s dividend payout ratio is presently 69.47%.

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A number of analysts have commented on the stock. Royal Bank Of Canada set a $50.00 price objective on shares of Sysco Corporation and gave the company a “hold” rating in a report on Friday. Jefferies Group LLC reiterated a “hold” rating and issued a $51.00 price objective on shares of Sysco Corporation in a report on Friday, August 4th. BMO Capital Markets set a $60.00 price objective on shares of Sysco Corporation and gave the company a “buy” rating in a report on Thursday, August 3rd. Zacks Investment Research upgraded shares of Sysco Corporation from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Friday, July 21st. Finally, Wells Fargo & Company reiterated a “buy” rating on shares of Sysco Corporation in a report on Monday, July 17th. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $56.02.

In other news, insider Wayne Shurts sold 15,600 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $54.25, for a total value of $846,300.00. Following the completion of the transaction, the insider now owns 58,776 shares of the company’s stock, valued at $3,188,598. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO William J. Delaney III sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $55.55, for a total transaction of $1,666,500.00. Following the completion of the transaction, the chief executive officer now directly owns 406,725 shares of the company’s stock, valued at approximately $22,593,573.75. The disclosure for this sale can be found here. In the last three months, insiders sold 152,400 shares of company stock valued at $8,121,300. Company insiders own 8.81% of the company’s stock.

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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