KDI Capital Partners LLC Purchases Shares of 27,700 Sysco Corporation (NYSE:SYY)

KDI Capital Partners LLC acquired a new stake in Sysco Corporation (NYSE:SYY) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 27,700 shares of the company’s stock, valued at approximately $1,394,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. North Star Investment Management Corp. raised its holdings in Sysco Corporation by 81.2% in the 1st quarter. North Star Investment Management Corp. now owns 1,944 shares of the company’s stock valued at $101,000 after acquiring an additional 871 shares in the last quarter. TrimTabs Asset Management LLC raised its holdings in shares of Sysco Corporation by 88.7% during the 1st 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. Arcadia Investment Management Corp MI raised its holdings in shares of Sysco Corporation by 10.7% during the 2nd quarter. Arcadia Investment Management Corp MI now owns 2,336 shares of the company’s stock worth $118,000 after buying an additional 225 shares in the last quarter. Kistler Tiffany Companies LLC raised its holdings in shares of Sysco Corporation by 0.4% during the 1st 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 holdings in shares of Sysco Corporation by 0.6% during the 1st 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. 79.91% of the stock is owned by hedge funds and other institutional investors.

Shares of Sysco Corporation (NYSE:SYY) opened at 53.93 on Tuesday. The company has a market cap of $28.47 billion, a price-to-earnings ratio of 25.93 and a beta of 0.52. The company’s 50 day moving average price is $52.27 and its 200 day moving average price is $52.56. Sysco Corporation has a 12 month low of $47.15 and a 12 month high of $57.07.

Sysco Corporation (NYSE:SYY) last posted its quarterly earnings results on Monday, August 14th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.01. Sysco Corporation had a net margin of 2.06% and a return on equity of 53.25%. The business had revenue of $14.40 billion during the quarter, compared to analysts’ expectations of $14.35 billion. During the same quarter last year, the company posted $0.64 earnings per share. The business’s quarterly revenue was up 5.5% on a year-over-year basis. On average, equities analysts expect that Sysco Corporation will post $2.76 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 6th will be issued a dividend of $0.33 per share. The ex-dividend date is Thursday, October 5th. This represents a $1.32 annualized dividend and a dividend yield of 2.45%. Sysco Corporation’s dividend payout ratio (DPR) is presently 63.16%.

SYY has been the subject of a number of research analyst reports. Jefferies Group LLC reissued a “hold” rating and set a $51.00 price target on shares of Sysco Corporation in a report on Friday, August 4th. J P Morgan Chase & Co reissued an “overweight” rating and set a $57.00 price target on shares of Sysco Corporation in a report on Friday, June 23rd. BMO Capital Markets restated a “buy” rating and set a $60.00 price objective on shares of Sysco Corporation in a research report on Tuesday, June 27th. Royal Bank Of Canada set a $50.00 price objective on Sysco Corporation and gave the stock a “hold” rating in a research report on Friday, August 11th. Finally, Pivotal Research set a $53.00 price objective on Sysco Corporation and gave the stock a “hold” rating in a research report on Sunday, August 13th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $56.17.

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In other Sysco Corporation news, Director Trian Fund Management, L.P. sold 372,314 shares of Sysco Corporation stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $53.09, for a total value of $19,766,150.26. Following the completion of the transaction, the director now owns 5,529 shares of the company’s stock, valued at $293,534.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William J. Delaney III sold 30,000 shares of Sysco Corporation stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $49.92, for a total transaction of $1,497,600.00. Following the completion of the transaction, the chief executive officer now directly owns 406,725 shares of the company’s stock, valued at approximately $20,303,712. The disclosure for this sale can be found here. In the last three months, insiders have sold 524,714 shares of company stock valued at $27,628,142. 8.81% of the stock is currently owned by corporate insiders.

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.

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

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