First Midwest Bank Trust Division lowered its position in shares of Sysco Corporation (NYSE:SYY) by 14.0% during the second quarter, Holdings Channel reports. The institutional investor owned 60,386 shares of the company’s stock after selling 9,847 shares during the period. First Midwest Bank Trust Division’s holdings in Sysco Corporation were worth $3,040,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. North Star Investment Management Corp. raised its stake in Sysco Corporation by 81.2% in the first quarter. North Star Investment Management Corp. now owns 1,944 shares of the company’s stock worth $101,000 after buying an additional 871 shares in the last quarter. TrimTabs Asset Management LLC raised its stake in Sysco Corporation by 88.7% in the first quarter. TrimTabs Asset Management LLC now owns 2,162 shares of the company’s stock worth $112,000 after buying an additional 1,016 shares in the last quarter. Howe & Rusling Inc. raised its stake in Sysco Corporation by 81.1% in the first quarter. Howe & Rusling Inc. now owns 2,595 shares of the company’s stock worth $135,000 after buying an additional 1,162 shares in the last quarter. Kistler Tiffany Companies LLC raised 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 worth $151,000 after buying an additional 13 shares in the last quarter. Finally, Blue Chip Partners Inc. raised its stake in Sysco Corporation by 0.6% in the first quarter. Blue Chip Partners Inc. now owns 2,949 shares of the company’s stock worth $153,000 after buying an additional 19 shares in the last quarter. Institutional investors own 78.38% of the company’s stock.

Shares of Sysco Corporation (NYSE:SYY) traded up 1.40% on Friday, reaching $51.58. 3,803,719 shares of the company’s stock traded hands. Sysco Corporation has a 12-month low of $47.15 and a 12-month high of $57.07. The stock has a 50-day moving average of $50.93 and a 200 day moving average of $52.61. The firm has a market cap of $27.61 billion, a P/E ratio of 27.19 and a beta of 0.52.

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

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SYY has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Sysco Corporation from a “hold” rating to a “buy” rating and set a $62.00 price target for the company in a report on Tuesday, May 9th. Loop Capital initiated coverage on shares of Sysco Corporation in a report on Monday, May 15th. They set a “buy” rating and a $61.00 price target for the company. BMO Capital Markets reiterated a “buy” rating and set a $60.00 price target on shares of Sysco Corporation in a report on Tuesday, June 27th. Bank of America Corporation reiterated a “buy” rating and set a $61.00 price target on shares of Sysco Corporation in a report on Monday, June 26th. Finally, Wells Fargo & Company reiterated a “buy” rating on shares of Sysco Corporation in a report on Friday, June 23rd. Nine research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $56.02.

In other news, CEO William J. Delaney III sold 30,000 shares of the business’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $54.22, for a total transaction of $1,626,600.00. Following the completion of the sale, the chief executive officer now directly owns 406,725 shares of the company’s stock, valued at $22,052,629.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Wayne Shurts sold 15,600 shares of the business’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $55.32, for a total transaction of $862,992.00. Following the sale, the insider now directly owns 58,776 shares of the company’s stock, valued at $3,251,488.32. The disclosure for this sale can be found here. Insiders have sold 152,400 shares of company stock valued at $8,121,300 over the last three months. 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.

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

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