Sandhill Capital Partners LLC Grows Position in Sysco Corporation (SYY)

Sandhill Capital Partners LLC lifted its position in shares of Sysco Corporation (NYSE:SYY) by 3.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,834 shares of the company’s stock after purchasing an additional 332 shares during the quarter. Sandhill Capital Partners LLC’s holdings in Sysco Corporation were worth $545,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYY. IMS Capital Management boosted its position in shares of Sysco Corporation by 56.3% during the first quarter. IMS Capital Management now owns 5,852 shares of the company’s stock valued at $304,000 after purchasing an additional 2,108 shares in the last quarter. Symphony Asset Management LLC boosted its position in shares of Sysco Corporation by 36.2% during the first quarter. Symphony Asset Management LLC now owns 59,227 shares of the company’s stock valued at $3,075,000 after purchasing an additional 15,753 shares in the last quarter. Commerce Bank boosted its position in shares of Sysco Corporation by 1.8% during the first quarter. Commerce Bank now owns 69,496 shares of the company’s stock valued at $3,608,000 after purchasing an additional 1,231 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Sysco Corporation by 27.8% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 36,866 shares of the company’s stock valued at $1,914,000 after purchasing an additional 8,021 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Sysco Corporation by 1.2% during the first quarter. Ameriprise Financial Inc. now owns 9,837,807 shares of the company’s stock valued at $510,776,000 after purchasing an additional 118,939 shares in the last quarter. Institutional investors own 79.92% of the company’s stock.

In other news, EVP Wayne Shurts sold 7,800 shares of the firm’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $50.82, for a total value of $396,396.00. Following the completion of the sale, the executive vice president now owns 58,776 shares of the company’s stock, valued at approximately $2,986,996.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William J. Delaney III sold 30,000 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $51.31, for a total value of $1,539,300.00. Following the completion of the sale, the chief executive officer now directly owns 406,725 shares of the company’s stock, valued at approximately $20,869,059.75. The disclosure for this sale can be found here. Insiders sold a total of 2,111,381 shares of company stock worth $113,332,388 over the last quarter. Company insiders own 8.81% of the company’s stock.

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Several equities research analysts recently weighed in on SYY shares. BidaskClub lowered Sysco Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. J P Morgan Chase & Co reissued 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 reissued a “buy” rating on shares of Sysco Corporation in a report on Friday, June 23rd. Bank of America Corporation reissued 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 reissued a “buy” rating and issued a $60.00 target price on shares of Sysco Corporation in a report on Tuesday, June 27th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Sysco Corporation has an average rating of “Hold” and a consensus target price of $56.42.

Shares of Sysco Corporation (NYSE:SYY) opened at 54.28 on Friday. Sysco Corporation has a 12-month low of $47.15 and a 12-month high of $57.07. The firm has a 50-day moving average price of $53.44 and a 200 day moving average price of $52.78. The company has a market capitalization of $28.65 billion, a P/E ratio of 26.10 and a beta of 0.52.

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, beating 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 business had revenue of $14.40 billion for the quarter, compared to the consensus estimate of $14.35 billion. During the same period last year, the business posted $0.64 EPS. The business’s revenue was up 5.5% compared to the same quarter last year. On average, equities research analysts predict that Sysco Corporation will post $2.76 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 6th will be issued a $0.33 dividend. The ex-dividend date is Thursday, October 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.43%. Sysco Corporation’s dividend payout ratio is presently 63.16%.

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.

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

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