Boston Trust Walden Corp Acquires 122,250 Shares of Sysco Corporation (NYSE:SYY)

Boston Trust Walden Corp increased its holdings in shares of Sysco Corporation (NYSE:SYY - Free Report) by 15.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 926,595 shares of the company's stock after purchasing an additional 122,250 shares during the quarter. Boston Trust Walden Corp owned 0.19% of Sysco worth $69,532,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. NorthCrest Asset Manangement LLC lifted its holdings in shares of Sysco by 4.9% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 2,956 shares of the company's stock valued at $226,000 after purchasing an additional 139 shares in the last quarter. MV Capital Management Inc. lifted its holdings in shares of Sysco by 0.4% during the fourth quarter. MV Capital Management Inc. now owns 34,330 shares of the company's stock valued at $2,625,000 after purchasing an additional 144 shares in the last quarter. Morton Community Bank lifted its holdings in shares of Sysco by 0.4% during the fourth quarter. Morton Community Bank now owns 40,585 shares of the company's stock valued at $3,103,000 after purchasing an additional 145 shares in the last quarter. Nemes Rush Group LLC lifted its holdings in shares of Sysco by 5.9% during the fourth quarter. Nemes Rush Group LLC now owns 2,631 shares of the company's stock valued at $201,000 after purchasing an additional 147 shares in the last quarter. Finally, SRS Capital Advisors Inc. lifted its holdings in shares of Sysco by 53.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock valued at $33,000 after purchasing an additional 149 shares in the last quarter. 83.41% of the stock is owned by institutional investors.

Sysco Stock Performance

Shares of SYY opened at $73.97 on Thursday. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 6.37. The business has a 50-day simple moving average of $72.23 and a two-hundred day simple moving average of $73.64. The stock has a market cap of $35.86 billion, a price-to-earnings ratio of 19.16, a PEG ratio of 2.40 and a beta of 0.81. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $82.23.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.96 EPS for the quarter, missing analysts' consensus estimates of $1.02 by ($0.06). The company had revenue of $19.60 billion during the quarter, compared to analysts' expectations of $20.11 billion. Sysco had a return on equity of 107.96% and a net margin of 2.36%. The business's quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.96 EPS. On average, analysts expect that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be given a dividend of $0.54 per share. The ex-dividend date is Thursday, July 3rd. This represents a $2.16 annualized dividend and a dividend yield of 2.92%. This is a boost from Sysco's previous quarterly dividend of $0.51. Sysco's dividend payout ratio (DPR) is currently 52.85%.

Insider Buying and Selling

In related news, Director Sheila Talton sold 356 shares of the 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 completion of the sale, the director now owns 12,738 shares in the company, valued at approximately $902,359.92. This trade represents a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.54% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SYY. UBS Group reduced their price objective on Sysco from $86.00 to $83.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Wall Street Zen cut Sysco from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. BMO Capital Markets reduced their price objective on Sysco from $82.00 to $77.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. JPMorgan Chase & Co. upped their price objective on Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a research report on Tuesday, May 20th. Finally, Wells Fargo & Company reduced their price objective on Sysco from $87.00 to $80.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Sysco has a consensus rating of "Moderate Buy" and a consensus price target of $83.00.

Sysco Profile

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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