Diversified Investment Strategies LLC Sells 950 Shares of Sysco Corporation (NYSE:SYY)

Diversified Investment Strategies LLC lowered its position in Sysco Corporation (NYSE:SYY) by 1.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 48,150 shares of the company’s stock after selling 950 shares during the period. Sysco Corporation accounts for about 2.5% of Diversified Investment Strategies LLC’s holdings, making the stock its 14th largest position. Diversified Investment Strategies LLC’s holdings in Sysco Corporation were worth $2,500,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SYY. North Star Investment Management Corp. boosted its position in shares of 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 during the last quarter. TrimTabs Asset Management LLC boosted its position in shares of 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 during the last quarter. Howe & Rusling Inc. boosted its position in shares of 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 during the last quarter. Kistler Tiffany Companies LLC boosted its position in shares of 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 during the last quarter. Finally, Blue Chip Partners Inc. boosted its position in shares of 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 during the last quarter. 78.38% of the stock is currently owned by institutional investors.

Sysco Corporation (SYY) opened at 52.33 on Monday. The company has a 50-day moving average of $51.49 and a 200 day moving average of $52.71. Sysco Corporation has a 52 week low of $47.15 and a 52 week high of $57.07. The firm has a market cap of $28.01 billion, a P/E ratio of 27.59 and a beta of 0.52.

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

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 issued a $0.33 dividend. The ex-dividend date is Thursday, October 5th. This represents a $1.32 dividend on an annualized basis and a yield of 2.52%. Sysco Corporation’s dividend payout ratio is presently 69.47%.

Several equities analysts have issued reports on the stock. Zacks Investment Research cut shares of Sysco Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. BMO Capital Markets raised shares of Sysco Corporation from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $56.00 to $60.00 in a research note on Thursday, May 4th. Wells Fargo & Company reissued a “buy” rating on shares of Sysco Corporation in a research note on Monday, July 17th. Jefferies Group LLC restated a “hold” rating and set a $51.00 target price (up from $50.00) on shares of Sysco Corporation in a research report on Monday, May 8th. Finally, BidaskClub lowered shares of Sysco Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $56.02.

In other Sysco Corporation news, CEO William J. Delaney III sold 30,000 shares of the business’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 completion of the transaction, the chief executive officer now directly owns 406,725 shares of the company’s stock, valued at $22,052,629.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Wayne Shurts sold 15,600 shares of the business’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $55.32, for a total value of $862,992.00. Following the completion of the transaction, 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 sold 152,400 shares of company stock valued at $8,121,300 in the last quarter. 8.81% of the stock is currently owned by corporate 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.