Sysco Corporation (SYY) Shares Bought by Marshall Wace North America L.P.

Marshall Wace North America L.P. grew its stake in Sysco Corporation (NYSE:SYY) by 14.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 109,121 shares of the company’s stock after purchasing an additional 13,703 shares during the quarter. Marshall Wace North America L.P.’s holdings in Sysco Corporation were worth $5,457,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Kistler Tiffany Companies LLC grew its position in shares of Sysco Corporation by 0.4% in the second quarter. Kistler Tiffany Companies LLC now owns 2,915 shares of the company’s stock valued at $147,000 after purchasing an additional 12 shares during the period. Buckingham Asset Management LLC grew its position in shares of Sysco Corporation by 0.3% in the first quarter. Buckingham Asset Management LLC now owns 5,904 shares of the company’s stock valued at $307,000 after purchasing an additional 16 shares during the period. Schnieders Capital Management LLC grew its position in shares of Sysco Corporation by 0.4% in the second quarter. Schnieders Capital Management LLC now owns 4,070 shares of the company’s stock valued at $205,000 after purchasing an additional 18 shares during the period. Blue Chip Partners Inc. grew its position in shares of Sysco Corporation by 0.6% in the first quarter. Blue Chip Partners Inc. now owns 2,949 shares of the company’s stock valued at $153,000 after purchasing an additional 19 shares during the period. Finally, Sequoia Financial Advisors LLC grew its position in shares of Sysco Corporation by 1.2% in the first quarter. Sequoia Financial Advisors LLC now owns 4,198 shares of the company’s stock valued at $218,000 after purchasing an additional 50 shares during the period. Institutional investors and hedge funds own 79.97% of the company’s stock.

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Several analysts have recently issued reports on SYY shares. Zacks Investment Research lowered shares of Sysco Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Royal Bank Of Canada set a $50.00 target price on shares of Sysco Corporation and gave the company a “hold” rating in a research report on Friday, August 11th. Bank of America Corporation reiterated a “buy” rating and issued a $61.00 target price on shares of Sysco Corporation in a research report on Monday, June 26th. Wells Fargo & Company reiterated a “buy” rating on shares of Sysco Corporation in a research report on Monday, August 14th. Finally, J P Morgan Chase & Co reiterated an “overweight” rating and issued a $57.00 target price on shares of Sysco Corporation in a research report on Friday, June 23rd. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Sysco Corporation has a consensus rating of “Hold” and an average target price of $56.17.

In other news, CEO William J. Delaney III sold 30,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 406,725 shares in the company, valued at approximately $20,303,712. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Wayne Shurts sold 7,800 shares of the stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $50.82, for a total transaction of $396,396.00. Following the transaction, the executive vice president now owns 58,776 shares in the company, valued at $2,986,996.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 106,800 shares of company stock worth $5,436,180. Insiders own 8.81% of the company’s stock.

Sysco Corporation (NYSE SYY) opened at 52.85 on Wednesday. Sysco Corporation has a 52 week low of $47.15 and a 52 week high of $57.07. The firm’s 50-day moving average is $52.09 and its 200-day moving average is $52.54. The stock has a market capitalization of $28.01 billion, a P/E ratio of 25.41 and a beta of 0.52.

Sysco Corporation (NYSE:SYY) last released its quarterly earnings results on Monday, August 14th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.01. Sysco Corporation had a net margin of 2.06% and a return on equity of 53.25%. The company had revenue of $14.40 billion for the quarter, compared to analysts’ expectations of $14.35 billion. During the same period last year, the company earned $0.64 EPS. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, equities research analysts predict 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. Stockholders of record on Friday, October 6th will be issued a dividend of $0.33 per share. The ex-dividend date is Thursday, October 5th. This represents a $1.32 annualized dividend and a dividend yield of 2.50%. Sysco Corporation’s payout ratio is currently 63.16%.

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.

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

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