Cambridge Investment Research Advisors Inc. Purchases 6,417 Shares of Sysco Corporation (NYSE:SYY)

Cambridge Investment Research Advisors Inc. raised its holdings in shares of Sysco Corporation (NYSE:SYY - Free Report) by 9.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,327 shares of the company's stock after purchasing an additional 6,417 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Sysco were worth $5,653,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of SYY. Rialto Wealth Management LLC grew its holdings in Sysco by 188.7% during the first quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock worth $25,000 after buying an additional 217 shares in the last quarter. Parvin Asset Management LLC purchased a new position in Sysco during the 4th quarter worth $29,000. Flagship Wealth Advisors LLC bought a new stake in shares of Sysco in the 4th quarter worth $31,000. Sherman Asset Management Inc. purchased a new stake in shares of Sysco in the fourth quarter valued at about $31,000. Finally, SRS Capital Advisors Inc. lifted its position 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. Institutional investors and hedge funds own 83.41% of the company's stock.

Insider Buying and Selling at Sysco

In other Sysco news, Director Sheila Talton sold 356 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $70.84, for a total value of $25,219.04. Following the completion of the transaction, the director now owns 12,738 shares in the company, 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 Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.54% of the company's stock.

Analyst Upgrades and Downgrades

SYY has been the subject of a number of recent analyst reports. 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 objective for the company. Barclays reduced their target price on Sysco from $87.00 to $77.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. JPMorgan Chase & Co. lifted their price target on Sysco from $82.00 to $85.00 and gave the stock an "overweight" rating in a report on Tuesday, May 20th. 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 note on Wednesday, April 30th. Finally, Sanford C. Bernstein set a $87.00 target price on Sysco and gave the company an "overweight" rating in a research report on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $83.00.

Sysco Stock Performance

Shares of SYY stock traded up $0.63 on Friday, hitting $75.16. 3,546,099 shares of the stock were exchanged, compared to its average volume of 3,227,018. The firm's 50 day moving average is $72.80 and its two-hundred day moving average is $73.34. Sysco Corporation has a one year low of $67.12 and a one year high of $82.23. The firm has a market capitalization of $36.43 billion, a PE ratio of 19.47, a P/E/G 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 (NYSE:SYY - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.06). The business had revenue of $19.60 billion for the quarter, compared to analysts' expectations of $20.11 billion. Sysco had a net margin of 2.36% and a return on equity of 107.96%. Sysco's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period last year, the company earned $0.96 earnings per share. Sell-side analysts expect that Sysco Corporation will post 4.58 earnings per share for the current fiscal 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 represents a $2.16 dividend on an annualized basis and a yield of 2.87%. This is a positive change from Sysco's previous quarterly dividend of $0.51. The ex-dividend date is Thursday, July 3rd. Sysco's payout ratio is currently 52.85%.

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.