Putnam FL Investment Management Co. acquired a new stake in shares of Sysco Corporation (NYSE:SYY) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,247 shares of the company’s stock, valued at approximately $229,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. boosted its stake in Sysco Corporation by 2.9% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 61,621 shares of the company’s stock valued at $3,324,000 after acquiring an additional 1,754 shares during the last quarter. Allen Investment Management LLC boosted its stake in Sysco Corporation by 73.5% during the 3rd quarter. Allen Investment Management LLC now owns 99,213 shares of the company’s stock valued at $5,353,000 after acquiring an additional 42,031 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Sysco Corporation by 5.3% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 124,394 shares of the company’s stock valued at $6,711,000 after acquiring an additional 6,240 shares during the last quarter. Signature Estate & Investment Advisors LLC boosted its stake in Sysco Corporation by 4.0% during the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 295,003 shares of the company’s stock valued at $15,915,000 after acquiring an additional 11,361 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Sysco Corporation by 0.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 5,707,166 shares of the company’s stock valued at $307,903,000 after acquiring an additional 51,159 shares during the last quarter. Hedge funds and other institutional investors own 80.30% of the company’s stock.

In related news, CEO William J. Delaney III sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $51.31, for a total transaction of $1,539,300.00. Following the completion of the sale, the chief executive officer now directly owns 406,725 shares in the company, valued at $20,869,059.75. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Wayne Shurts sold 15,600 shares of the firm’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $51.76, for a total transaction of $807,456.00. Following the sale, the insider now owns 58,776 shares of the company’s stock, valued at $3,042,245.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,275,781 shares of company stock valued at $122,319,128. 9.60% of the stock is currently owned by corporate insiders.

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Shares of Sysco Corporation (SYY) traded up $0.41 on Friday, hitting $54.89. 2,739,586 shares of the company’s stock traded hands, compared to its average volume of 2,917,277. Sysco Corporation has a one year low of $48.85 and a one year high of $57.23. The firm has a market capitalization of $28,530.00, a PE ratio of 21.54, a price-to-earnings-growth ratio of 2.46 and a beta of 0.53. The company has a debt-to-equity ratio of 3.77, a quick ratio of 0.88 and a current ratio of 1.40.

Sysco Corporation (NYSE:SYY) last announced its earnings results on Monday, November 6th. The company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.72 by $0.02. Sysco Corporation had a net margin of 2.12% and a return on equity of 58.47%. The company had revenue of $14.65 billion during the quarter, compared to analysts’ expectations of $14.43 billion. During the same period last year, the company posted $0.67 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. sell-side analysts forecast that Sysco Corporation will post 2.77 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 5th will be issued a dividend of $0.36 per share. This is a boost from Sysco Corporation’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a dividend yield of 2.62%. Sysco Corporation’s dividend payout ratio (DPR) is currently 60.27%.

A number of research analysts have recently issued reports on the stock. Pivotal Research restated a “hold” rating and issued a $53.00 price target on shares of Sysco Corporation in a research report on Sunday, November 5th. Zacks Investment Research downgraded shares of Sysco Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. BMO Capital Markets restated an “outperform” rating on shares of Sysco Corporation in a research report on Tuesday, September 12th. Jefferies Group LLC restated a “hold” rating and issued a $51.00 price target on shares of Sysco Corporation in a research report on Friday, August 4th. Finally, Royal Bank Of Canada set a $50.00 price objective on shares of Sysco Corporation and gave the stock a “hold” rating in a report on Friday, August 11th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Sysco Corporation has an average rating of “Hold” and an average price target of $56.42.

Sysco Corporation 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.

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

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