Cary Street Partners Financial LLC Invests $5.32 Million in Sysco Co. (NYSE:SYY)

Cary Street Partners Financial LLC bought a new stake in shares of Sysco Co. (NYSE:SYY - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 69,552 shares of the company's stock, valued at approximately $5,318,000.

Other hedge funds have also recently bought and sold shares of the company. Parvin Asset Management LLC bought a new stake in shares of Sysco in the fourth quarter valued at about $29,000. Stonebridge Financial Group LLC acquired a new position in Sysco in the 4th quarter valued at approximately $31,000. Sherman Asset Management Inc. bought a new stake in shares of Sysco in the 4th quarter worth approximately $31,000. Flagship Wealth Advisors LLC bought a new stake in shares of Sysco during the fourth quarter valued at approximately $31,000. Finally, SRS Capital Advisors Inc. boosted its stake in Sysco by 53.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock worth $33,000 after buying an additional 149 shares in the last quarter. 83.41% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Sheila Talton sold 356 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $70.84, for a total value of $25,219.04. Following the transaction, the director now directly owns 12,738 shares in the company, valued at $902,359.92. This trade represents a 2.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.54% of the company's stock.

Sysco Trading Down 0.1 %

SYY stock opened at $70.66 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. Sysco Co. has a twelve month low of $67.12 and a twelve month high of $82.23. The company has a market cap of $34.25 billion, a P/E ratio of 18.17, a PEG ratio of 1.88 and a beta of 0.80. The business has a fifty day moving average of $72.52 and a 200-day moving average of $74.24.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.06). The firm had revenue of $19.60 billion for the quarter, compared to the consensus estimate of $20.11 billion. Sysco had a return on equity of 106.30% and a net margin of 2.40%. The business's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.96 earnings per share. As a group, equities research analysts expect that Sysco Co. will post 4.58 EPS for the current year.

Sysco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be paid a $0.54 dividend. The ex-dividend date is Thursday, July 3rd. This is a boost from Sysco's previous quarterly dividend of $0.51. This represents a $2.16 dividend on an annualized basis and a yield of 3.06%. Sysco's dividend payout ratio (DPR) is presently 55.96%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SYY. UBS Group lowered their price objective on Sysco from $86.00 to $83.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Guggenheim reiterated a "buy" rating and issued a $85.00 price target on shares of Sysco in a research report on Wednesday, January 29th. Wells Fargo & Company cut their price objective on Sysco from $87.00 to $80.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. BMO Capital Markets lowered their target price on shares of Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Finally, Morgan Stanley reduced their price target on shares of Sysco from $79.00 to $77.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat.com, Sysco has an average rating of "Moderate Buy" and an average target price of $83.38.

About Sysco

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.

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