Achmea Investment Management B.V. Purchases 28,506 Shares of Sysco Corporation (NYSE:SYY)

Achmea Investment Management B.V. raised its holdings in shares of Sysco Corporation (NYSE:SYY - Free Report) by 33.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 113,304 shares of the company's stock after purchasing an additional 28,506 shares during the period. Achmea Investment Management B.V.'s holdings in Sysco were worth $8,502,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Rialto Wealth Management LLC boosted its position in Sysco by 188.7% during the 1st quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock valued at $25,000 after purchasing an additional 217 shares during the period. Parvin Asset Management LLC acquired a new position in Sysco during the 4th quarter valued at approximately $29,000. Flagship Wealth Advisors LLC acquired a new position in Sysco during the 4th quarter valued at approximately $31,000. Sherman Asset Management Inc. acquired a new position in Sysco during the 4th quarter valued at approximately $31,000. Finally, Golden State Wealth Management LLC boosted its position in Sysco by 48.4% during the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock valued at $32,000 after purchasing an additional 140 shares during the period. 83.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SYY has been the subject of a number of analyst reports. Wall Street Zen lowered Sysco from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. 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 research note on Wednesday, April 30th. Barclays reduced their price target on shares of Sysco from $87.00 to $77.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Wells Fargo & Company dropped their target price on Sysco from $87.00 to $80.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. increased their price target on Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a research note on Tuesday, May 20th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $83.00.

Insiders Place Their Bets

In other Sysco news, Director Sheila Talton sold 356 shares of Sysco stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $70.84, for a total transaction of $25,219.04. Following the transaction, the director now owns 12,738 shares of the company's stock, valued at $902,359.92. The trade was a 2.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.54% of the company's stock.

Sysco Trading Up 0.8%

Shares of Sysco stock traded up $0.63 on Friday, reaching $75.16. 3,546,099 shares of the company were exchanged, compared to its average volume of 3,227,018. The stock has a fifty day moving average price of $72.80 and a 200-day moving average price of $73.34. The firm has a market capitalization of $36.43 billion, a price-to-earnings ratio of 19.47, a price-to-earnings-growth ratio of 2.43 and a beta of 0.81. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 6.37. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $82.23.

Sysco (NYSE:SYY - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.02 by ($0.06). The company had revenue of $19.60 billion for the quarter, compared to analyst estimates of $20.11 billion. Sysco had a return on equity of 107.96% and a net margin of 2.36%. The firm's revenue for the quarter was up 1.1% on a year-over-year basis. During the same period last year, the firm earned $0.96 earnings per share. On average, analysts expect that Sysco Corporation 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. Investors of record on Thursday, July 3rd will be paid a $0.54 dividend. This is an increase from Sysco's previous quarterly dividend of $0.51. This represents a $2.16 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend is Thursday, July 3rd. Sysco's dividend payout ratio is currently 52.85%.

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.