Raymond James Financial Services Advisors Inc. Buys 8,737 Shares of Sysco Corporation (NYSE:SYY)

Raymond James Financial Services Advisors Inc. lifted its position in shares of Sysco Corporation (NYSE:SYY) by 4.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 228,093 shares of the company’s stock after acquiring an additional 8,737 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Sysco Corporation were worth $11,480,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in SYY. TrimTabs Asset Management LLC raised its position 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 purchasing an additional 1,016 shares during the last quarter. Arcadia Investment Management Corp MI raised its position 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 purchasing an additional 225 shares during the last quarter. Acrospire Investment Management LLC raised its position in shares of Sysco Corporation by 84.6% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,400 shares of the company’s stock worth $121,000 after purchasing an additional 1,100 shares during the last quarter. Manchester Capital Management LLC raised its position in shares of Sysco Corporation by 13.4% during the 2nd quarter. Manchester Capital Management LLC now owns 2,538 shares of the company’s stock worth $128,000 after purchasing an additional 300 shares during the last quarter. Finally, Kistler Tiffany Companies LLC raised its position in shares of Sysco Corporation by 0.4% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 2,915 shares of the company’s stock worth $147,000 after purchasing an additional 12 shares during the last quarter. 80.14% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages recently issued reports on SYY. Zacks Investment Research upgraded Sysco Corporation from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research report on Tuesday, October 10th. BMO Capital Markets reiterated an “outperform” rating on shares of Sysco Corporation in a report on Tuesday, September 12th. Jefferies Group LLC reiterated a “hold” rating and issued a $51.00 price target on shares of Sysco Corporation in a report on Friday, August 4th. Pivotal Research set a $53.00 price target on Sysco Corporation and gave the company a “hold” rating in a report on Sunday, August 13th. Finally, Royal Bank Of Canada set a $50.00 price target on Sysco Corporation and gave the company a “hold” rating in a report on Friday, August 11th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $56.42.

In other news, CEO William J. Delaney III sold 400,000 shares of the company’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $53.91, for a total value of $21,564,000.00. Following the sale, the chief executive officer now owns 576,725 shares in the company, valued at $31,091,244.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William J. Delaney III sold 30,000 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $51.31, for a total value of $1,539,300.00. Following the completion of the sale, the chief executive officer now owns 406,725 shares in the company, valued at approximately $20,869,059.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,125,781 shares of company stock worth $114,211,628. Company insiders own 9.60% of the company’s stock.

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Sysco Corporation (SYY) opened at 54.86 on Friday. Sysco Corporation has a 52-week low of $47.15 and a 52-week high of $57.07. The firm has a 50-day moving average of $54.00 and a 200-day moving average of $52.97. The stock has a market capitalization of $28.96 billion, a PE ratio of 26.38 and a beta of 0.52.

Sysco Corporation (NYSE:SYY) last posted its quarterly earnings results on Monday, August 14th. The company reported $0.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.01. The business 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 company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.64 EPS. On average, equities analysts expect that Sysco Corporation will post $2.76 EPS for the current year.

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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