Chicago Partners Investment Group LLC Sells 4,500 Shares of Sysco Corporation (NYSE:SYY)

Chicago Partners Investment Group LLC reduced its stake in shares of Sysco Corporation (NYSE:SYY) by 43.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,900 shares of the company’s stock after selling 4,500 shares during the period. Chicago Partners Investment Group LLC’s holdings in Sysco Corporation were worth $306,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Quadrature Capital Ltd increased its position in shares of Sysco Corporation by 167.4% in the fourth quarter. Quadrature Capital Ltd now owns 316,373 shares of the company’s stock worth $17,521,000 after buying an additional 198,042 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Sysco Corporation by 27.8% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 36,866 shares of the company’s stock worth $1,914,000 after buying an additional 8,021 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its position in Sysco Corporation by 402.9% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 103,770 shares of the company’s stock worth $5,388,000 after buying an additional 83,136 shares during the period. Suntrust Banks Inc. boosted its position in Sysco Corporation by 2.6% in the first quarter. Suntrust Banks Inc. now owns 242,423 shares of the company’s stock worth $12,585,000 after buying an additional 6,218 shares during the period. Finally, Vident Investment Advisory LLC boosted its position in Sysco Corporation by 2.7% in the fourth quarter. Vident Investment Advisory LLC now owns 47,586 shares of the company’s stock worth $2,635,000 after buying an additional 1,239 shares during the period. Hedge funds and other institutional investors own 78.38% of the company’s stock.

Shares of Sysco Corporation (SYY) opened at 52.08 on Wednesday. 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 of $51.23 and a 200 day moving average of $52.70. The firm has a market cap of $27.87 billion, a P/E ratio of 27.45 and a beta of 0.52.

Sysco Corporation (NYSE:SYY) last released its quarterly earnings results on Monday, May 8th. The company reported $0.51 EPS for the quarter, meeting analysts’ consensus estimates of $0.51. Sysco Corporation had a return on equity of 47.28% and a net margin of 1.93%. The firm had revenue of $13.52 billion for the quarter, compared to analyst estimates of $13.14 billion. During the same quarter in the previous year, the company posted $0.46 EPS. The business’s revenue was up 12.7% on a year-over-year basis. On average, equities research analysts anticipate that Sysco Corporation will post $2.47 EPS for the current fiscal year.

The business 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 $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 2.53%. Sysco Corporation’s dividend payout ratio (DPR) is presently 69.47%.

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A number of equities analysts have recently weighed in on the stock. Jefferies Group LLC reaffirmed a “hold” rating and set a $51.00 price target on shares of Sysco Corporation in a research note 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 research note on Thursday, August 3rd. Zacks Investment Research raised shares of Sysco Corporation from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Friday, July 21st. Wells Fargo & Company reissued a “buy” rating on shares of Sysco Corporation in a research note on Monday, July 17th. Finally, Bank of America Corporation reissued a “buy” rating and issued a $61.00 price objective on shares of Sysco Corporation in a research note on Monday, June 26th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $56.02.

In other Sysco Corporation news, CEO William J. Delaney III sold 30,000 shares of the company’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $54.22, for a total value of $1,626,600.00. Following the sale, the chief executive officer now owns 406,725 shares in the company, valued at approximately $22,052,629.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Wayne Shurts sold 7,800 shares of the business’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $50.82, for a total value of $396,396.00. Following the completion of the transaction, the executive vice president now directly owns 58,776 shares in the company, valued at $2,986,996.32. The disclosure for this sale can be found here. Insiders sold a total of 152,400 shares of company stock worth $8,121,300 in the last quarter. Corporate 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.

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

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