Sysco Corporation (NYSE:SYY) Shares Sold by Brown Advisory Inc.

Brown Advisory Inc. lowered its position in shares of Sysco Corporation (NYSE:SYY - Free Report) by 4.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 99,043 shares of the company's stock after selling 4,607 shares during the period. Brown Advisory Inc.'s holdings in Sysco were worth $7,432,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Rialto Wealth Management LLC raised its holdings in Sysco by 188.7% in the 1st quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock worth $25,000 after purchasing an additional 217 shares in the last quarter. Parvin Asset Management LLC purchased a new stake in shares of Sysco during the 4th quarter valued at about $29,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Sysco during the 4th quarter valued at about $31,000. Golden State Wealth Management LLC boosted its holdings in shares of 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 acquiring an additional 140 shares during the last quarter. Finally, Capital A Wealth Management LLC purchased a new position in shares of Sysco in the fourth quarter worth approximately $34,000. Hedge funds and other institutional investors own 83.41% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on SYY shares. Wall Street Zen raised shares of Sysco from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. JPMorgan Chase & Co. boosted their price target on shares of Sysco from $82.00 to $85.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 20th. Citigroup began coverage on shares of Sysco in a research report on Thursday, May 22nd. They issued a "neutral" rating and a $78.00 price target on the stock. UBS Group dropped their price objective on shares of Sysco from $86.00 to $83.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Finally, BMO Capital Markets dropped their price objective on shares of Sysco from $82.00 to $77.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Sysco currently has a consensus rating of "Moderate Buy" and an average price target of $82.77.

Sysco Stock Down 0.9%

Shares of SYY stock traded down $0.66 on Friday, hitting $76.80. The stock had a trading volume of 3,049,106 shares, compared to its average volume of 3,237,308. 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 moving average price of $73.90 and a 200 day moving average price of $73.30. The company has a market cap of $37.23 billion, a PE ratio of 19.90, a P/E/G ratio of 2.33 and a beta of 0.81. Sysco Corporation has a one year low of $67.12 and a one year high of $82.23.

Sysco (NYSE:SYY - Get Free Report) last announced its 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 firm had revenue of $19.60 billion during the quarter, compared to the consensus estimate of $20.11 billion. Sysco had a return on equity of 107.96% and a net margin of 2.36%. The business's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.96 earnings per share. Research analysts anticipate that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be issued a $0.54 dividend. The ex-dividend date is Thursday, July 3rd. This is an increase from Sysco's previous quarterly dividend of $0.51. This represents a $2.16 dividend on an annualized basis and a yield of 2.81%. Sysco's payout ratio is currently 55.96%.

Insider Activity at Sysco

In related news, Director Sheila Talton sold 356 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $70.84, for a total value of $25,219.04. Following the completion of the transaction, the director directly owned 12,738 shares of the company's stock, valued at $902,359.92. This trade represents a 2.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.54% of the stock is owned by insiders.

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.