Cambridge Advisors Inc. continued to hold its stake in shares of Sysco Corporation (NYSE:SYY) during the second quarter, according to its most recent filing with the SEC. The firm owned 4,235 shares of the company’s stock at the end of the second quarter. Cambridge Advisors Inc.’s holdings in Sysco Corporation were worth $213,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SYY. BlackRock Inc. increased its stake in shares of Sysco Corporation by 2,088.2% in the first quarter. BlackRock Inc. now owns 32,207,618 shares of the company’s stock valued at $1,672,219,000 after buying an additional 30,735,711 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Sysco Corporation by 86.7% in the first quarter. Victory Capital Management Inc. now owns 2,426,247 shares of the company’s stock valued at $125,971,000 after buying an additional 1,126,573 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Sysco Corporation by 2.9% in the first quarter. Vanguard Group Inc. now owns 37,910,943 shares of the company’s stock valued at $1,968,336,000 after buying an additional 1,064,162 shares in the last quarter. Hermes Investment Management Ltd. acquired a new stake in shares of Sysco Corporation during the first quarter valued at about $41,568,000. Finally, Bank of America Corp DE increased its stake in shares of Sysco Corporation by 18.3% in the first quarter. Bank of America Corp DE now owns 4,745,874 shares of the company’s stock valued at $246,405,000 after buying an additional 733,433 shares in the last quarter. 78.38% of the stock is currently owned by institutional investors.

Sysco Corporation (NYSE SYY) traded up 1.40% during midday trading on Friday, reaching $51.58. The company had a trading volume of 3,803,719 shares. The stock’s 50 day moving average price is $50.93 and its 200-day moving average price is $52.61. Sysco Corporation has a one year low of $47.15 and a one year high of $57.07. The firm has a market capitalization of $27.61 billion, a P/E ratio of 27.19 and a beta of 0.52.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 6th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.56%. The ex-dividend date is Thursday, October 5th. Sysco Corporation’s payout ratio is 69.47%.

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SYY has been the topic of several research analyst reports. Wells Fargo & Company reaffirmed a “buy” rating on shares of Sysco Corporation in a research report on Friday, June 23rd. BMO Capital Markets reaffirmed a “buy” rating and issued a $60.00 price target on shares of Sysco Corporation in a research report on Tuesday, June 27th. Bank of America Corporation reaffirmed a “buy” rating and issued a $61.00 price target on shares of Sysco Corporation in a research report on Monday, June 26th. Zacks Investment Research raised Sysco Corporation from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Friday, July 21st. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $57.00 price target on shares of Sysco Corporation in a research report on Friday, June 23rd. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $56.02.

In related news, CEO William J. Delaney III sold 30,000 shares of the stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $54.22, for a total value of $1,626,600.00. Following the completion of the transaction, the chief executive officer now owns 406,725 shares of the company’s stock, valued at approximately $22,052,629.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Wayne Shurts sold 7,800 shares of the stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $50.82, for a total transaction of $396,396.00. Following the completion of the transaction, the executive vice president now directly owns 58,776 shares of the company’s stock, valued at approximately $2,986,996.32. The disclosure for this sale can be found here. In the last three months, insiders sold 152,400 shares of company stock valued at $8,121,300. 8.81% of the stock is owned by insiders.

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.

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

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