Sysco Corporation (SYY) Stake Cut by Eagle Asset Management Inc.

Eagle Asset Management Inc. decreased its stake in Sysco Corporation (NYSE:SYY) by 12.9% during the first quarter, Holdings Channel reports. The fund owned 400,391 shares of the company’s stock after selling 59,478 shares during the period. Eagle Asset Management Inc. owned approximately 0.07% of Sysco Corporation worth $20,788,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of SYY. 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 valued at $151,000 after buying an additional 13 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 valued at $218,000 after buying an additional 50 shares during the last quarter. Curbstone Financial Management Corp increased its stake in Sysco Corporation by 0.6% in the first quarter. Curbstone Financial Management Corp now owns 17,230 shares of the company’s stock valued at $895,000 after buying an additional 100 shares during the last quarter. Parsons Capital Management Inc. RI increased its stake in Sysco Corporation by 0.3% in the first quarter. Parsons Capital Management Inc. RI now owns 31,451 shares of the company’s stock valued at $1,633,000 after buying an additional 100 shares during the last quarter. Finally, Usca Ria LLC increased its stake in Sysco Corporation by 0.8% in the first quarter. Usca Ria LLC now owns 12,500 shares of the company’s stock valued at $649,000 after buying an additional 101 shares during the last quarter. Hedge funds and other institutional investors own 78.91% of the company’s stock.

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

Shares of Sysco Corporation (NYSE:SYY) opened at 54.38 on Friday. The company has a 50 day moving average price of $54.57 and a 200 day moving average price of $53.66. The company has a market cap of $29.10 billion, a PE ratio of 28.67 and a beta of 0.53. Sysco Corporation has a 52 week low of $47.15 and a 52 week high of $57.07.

Sysco Corporation (NYSE:SYY) last posted its quarterly earnings data on Monday, May 8th. The company reported $0.51 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.51. The business had revenue of $13.52 billion during the quarter, compared to the consensus estimate of $13.14 billion. Sysco Corporation had a return on equity of 47.28% and a net margin of 1.93%. Sysco Corporation’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period last year, the company earned $0.46 earnings per share. On average, equities analysts expect that Sysco Corporation will post $2.47 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 28th. Investors of record on Friday, July 7th will be issued a dividend of $0.33 per share. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.43%. Sysco Corporation’s payout ratio is presently 69.47%.

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Several analysts have issued reports on the company. BidaskClub downgraded Sysco Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 9th. Guggenheim restated a “neutral” rating on shares of Sysco Corporation in a report on Tuesday, April 11th. Loop Capital assumed coverage on Sysco Corporation in a report on Monday, May 15th. They set a “buy” rating and a $61.00 price objective on the stock. Royal Bank Of Canada boosted their price objective on Sysco Corporation from $48.00 to $50.00 and gave the stock a “sector perform” rating in a report on Tuesday, May 9th. Finally, Barclays PLC restated an “equal weight” rating and set a $57.00 price objective (up previously from $53.00) on shares of Sysco Corporation in a report on Tuesday, May 9th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $56.30.

In related news, CEO William J. Delaney III sold 30,000 shares of the stock in a transaction dated Wednesday, April 12th. The stock was sold at an average price of $51.96, for a total transaction of $1,558,800.00. Following the completion of the transaction, the chief executive officer now directly owns 406,725 shares in the company, valued at $21,133,431. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Wayne Shurts sold 15,600 shares of the stock in a transaction dated Wednesday, April 5th. The stock was sold at an average price of $51.66, for a total value of $805,896.00. Following the transaction, the insider now owns 43,176 shares of the company’s stock, valued at $2,230,472.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 144,600 shares of company stock valued at $7,798,428. 8.81% of the stock is owned by corporate insiders.

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.

Want to see what other hedge funds are holding SYY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sysco Corporation (NYSE:SYY).

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