NewSquare Capital LLC raised its stake in Sysco Corp. (NYSE:SYY) by 14.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,686 shares of the company’s stock after buying an additional 2,926 shares during the period. NewSquare Capital LLC’s holdings in Sysco Corp. were worth $1,151,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Trian Fund Management L.P. increased its position in Sysco Corp. by 1.4% in the first quarter. Trian Fund Management L.P. now owns 43,271,951 shares of the company’s stock valued at $2,022,098,000 after buying an additional 586,344 shares during the last quarter. State Street Corp increased its position in Sysco Corp. by 1.3% in the first quarter. State Street Corp now owns 28,069,492 shares of the company’s stock valued at $1,311,676,000 after buying an additional 350,534 shares during the last quarter. Geode Capital Management LLC increased its position in Sysco Corp. by 4.2% in the first quarter. Geode Capital Management LLC now owns 4,460,283 shares of the company’s stock valued at $208,020,000 after buying an additional 181,435 shares during the last quarter. Acadian Asset Management LLC increased its position in Sysco Corp. by 0.8% in the second quarter. Acadian Asset Management LLC now owns 2,205,904 shares of the company’s stock valued at $111,925,000 after buying an additional 18,096 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in Sysco Corp. by 31.1% in the first quarter. UBS Asset Management Americas Inc. now owns 2,177,500 shares of the company’s stock valued at $101,756,000 after buying an additional 516,711 shares during the last quarter. Institutional investors and hedge funds own 76.65% of the company’s stock.

Shares of Sysco Corp. (NYSE:SYY) traded up 0.66% during trading on Thursday, hitting $50.02. 3,195,599 shares of the company’s stock were exchanged. Sysco Corp. has a 12-month low of $38.34 and a 12-month high of $53.97. The company has a 50-day moving average of $51.51 and a 200-day moving average of $49.40. The company has a market cap of $27.77 billion, a P/E ratio of 30.50 and a beta of 0.56.

Sysco Corp. (NYSE:SYY) last released its quarterly earnings data on Monday, August 15th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.61 by $0.03. The business had revenue of $13.65 billion for the quarter, compared to the consensus estimate of $13.68 billion. Sysco Corp. had a net margin of 1.89% and a return on equity of 28.67%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.52 EPS. On average, equities analysts expect that Sysco Corp. will post $2.31 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 7th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 2.48%. The ex-dividend date of this dividend is Wednesday, October 5th. Sysco Corp.’s dividend payout ratio (DPR) is presently 75.15%.

Several analysts have recently commented on SYY shares. Argus raised their price objective on shares of Sysco Corp. from $56.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, August 19th. Bank of America Corp. set a $54.00 price objective on shares of Sysco Corp. and gave the company a “hold” rating in a research report on Saturday, September 17th. Deutsche Bank AG started coverage on shares of Sysco Corp. in a research report on Monday, July 18th. They set a “hold” rating and a $52.00 price objective on the stock. Vetr upgraded shares of Sysco Corp. from a “sell” rating to a “hold” rating and set a $50.25 price objective on the stock in a research report on Monday, September 12th. Finally, BMO Capital Markets restated a “hold” rating and set a $52.00 price objective on shares of Sysco Corp. in a research report on Thursday, June 16th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. Sysco Corp. has an average rating of “Hold” and an average target price of $49.45.

In related news, CEO William J. Delaney III sold 20,114 shares of the stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $49.51, for a total transaction of $995,844.14. Following the sale, the chief executive officer now directly owns 422,507 shares of the company’s stock, valued at $20,918,321.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Joel T. Grade sold 16,368 shares of the stock in a transaction on Wednesday, July 13th. The stock was sold at an average price of $52.01, for a total transaction of $851,299.68. Following the sale, the chief financial officer now directly owns 60,031 shares in the company, valued at $3,122,212.31. The disclosure for this sale can be found here. Corporate insiders own 7.77% of the company’s stock.

Sysco Corp. Company Profile

Sysco Corporation (Sysco) along with its subsidiaries and divisions, is a North American distributor of food and related products primarily to the foodservice or food-away-from-home industry. The Company provides products and related services to approximately 425,000 customers, including restaurants, healthcare and educational facilities, lodging establishments and other foodservice customers.

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