Rowland & Co. Investment Counsel ADV Sells 3,733 Shares of Sysco Corporation (SYY)

Rowland & Co. Investment Counsel ADV decreased its holdings in shares of Sysco Corporation (NYSE:SYY) by 3.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 114,739 shares of the company’s stock after selling 3,733 shares during the period. Sysco Corporation makes up approximately 2.5% of Rowland & Co. Investment Counsel ADV’s investment portfolio, making the stock its 10th largest holding. Rowland & Co. Investment Counsel ADV’s holdings in Sysco Corporation were worth $5,789,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. TrimTabs Asset Management LLC grew its stake in shares of Sysco Corporation by 88.7% during the first quarter. TrimTabs Asset Management LLC now owns 2,162 shares of the company’s stock worth $112,000 after acquiring an additional 1,016 shares during the last quarter. Arcadia Investment Management Corp MI grew its stake in shares of Sysco Corporation by 10.7% during the second quarter. Arcadia Investment Management Corp MI now owns 2,336 shares of the company’s stock worth $118,000 after acquiring an additional 225 shares during the last quarter. Acrospire Investment Management LLC grew its stake in shares of Sysco Corporation by 84.6% during the second quarter. Acrospire Investment Management LLC now owns 2,400 shares of the company’s stock worth $121,000 after acquiring an additional 1,100 shares during the last quarter. Manchester Capital Management LLC grew its stake in shares of Sysco Corporation by 13.4% during the second quarter. Manchester Capital Management LLC now owns 2,538 shares of the company’s stock worth $128,000 after acquiring an additional 300 shares during the last quarter. Finally, Kistler Tiffany Companies LLC grew its stake in shares of Sysco Corporation by 0.4% during the second quarter. Kistler Tiffany Companies LLC now owns 2,915 shares of the company’s stock worth $147,000 after acquiring an additional 12 shares during the last quarter. Institutional investors and hedge funds own 80.65% of the company’s stock.

A number of equities research analysts have recently weighed in on SYY shares. Wells Fargo & Company restated a “buy” rating on shares of Sysco Corporation in a research note on Friday, June 23rd. BMO Capital Markets restated a “buy” rating and set a $60.00 price target on shares of Sysco Corporation in a research note on Tuesday, June 27th. Bank of America Corporation restated a “buy” rating and set a $61.00 price target on shares of Sysco Corporation in a research note on Monday, June 26th. Zacks Investment Research upgraded Sysco Corporation from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Friday, July 21st. Finally, J P Morgan Chase & Co restated an “overweight” rating and set a $57.00 price target on shares of Sysco Corporation in a research note on Friday, June 23rd. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $56.42.

Sysco Corporation (NYSE:SYY) last released its quarterly earnings results on Monday, August 14th. The company reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.01. The firm had revenue of $14.40 billion for the quarter, compared to the consensus estimate of $14.35 billion. Sysco Corporation had a return on equity of 53.25% and a net margin of 2.06%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 EPS.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 6th will be paid a dividend of $0.33 per share. The ex-dividend date is Thursday, October 5th. This represents a $1.32 dividend on an annualized basis and a yield of 2.41%. Sysco Corporation’s dividend payout ratio is presently 63.16%.

In other Sysco Corporation news, CEO William J. Delaney III sold 118,200 shares of the stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $54.06, for a total transaction of $6,389,892.00. Following the completion of the sale, the chief executive officer now directly owns 494,925 shares of the company’s stock, valued at approximately $26,755,645.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Paul T. Moskowitz sold 16,667 shares of the stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $54.12, for a total value of $902,018.04. Following the sale, the insider now directly owns 61,936 shares of the company’s stock, valued at $3,351,976.32. The disclosure for this sale can be found here. Insiders have sold a total of 2,103,581 shares of company stock worth $112,935,992 in the last 90 days. 9.60% of the stock is currently owned by company insiders.

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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.

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

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