Concurrent Investment Advisors LLC Purchases 4,811 Shares of Sysco Corporation (NYSE:SYY)

Concurrent Investment Advisors LLC increased its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 17.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 32,630 shares of the company's stock after buying an additional 4,811 shares during the period. Concurrent Investment Advisors LLC's holdings in Sysco were worth $2,449,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the business. Boston Partners boosted its holdings in shares of Sysco by 143.7% during the fourth quarter. Boston Partners now owns 12,184,114 shares of the company's stock worth $930,296,000 after purchasing an additional 7,184,754 shares during the period. Norges Bank acquired a new stake in shares of Sysco in the 4th quarter valued at $450,441,000. Capital Research Global Investors increased its position in Sysco by 27.3% in the 4th quarter. Capital Research Global Investors now owns 8,991,476 shares of the company's stock valued at $687,488,000 after acquiring an additional 1,928,002 shares in the last quarter. Mondrian Investment Partners LTD bought a new stake in Sysco during the 4th quarter worth about $123,928,000. Finally, Canoe Financial LP boosted its holdings in Sysco by 29,610.4% during the first quarter. Canoe Financial LP now owns 1,431,149 shares of the company's stock worth $107,393,000 after buying an additional 1,426,332 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Stock Performance

Shares of NYSE SYY traded down $0.18 during mid-day trading on Tuesday, hitting $76.53. The company had a trading volume of 2,118,699 shares, compared to its average volume of 3,238,891. The stock's 50-day moving average price is $73.40 and its 200-day moving average price is $73.25. The company has a market capitalization of $37.10 billion, a price-to-earnings ratio of 19.83, a P/E/G ratio of 2.33 and a beta of 0.81. Sysco Corporation has a 1 year low of $67.12 and a 1 year high of $82.23. 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 results on Tuesday, April 29th. The company reported $0.96 earnings per share for the quarter, missing analysts' consensus estimates of $1.02 by ($0.06). Sysco had a net margin of 2.36% and a return on equity of 107.96%. The firm had revenue of $19.60 billion for the quarter, compared to analysts' expectations of $20.11 billion. During the same quarter in the previous year, the business earned $0.96 EPS. The company's revenue for the quarter was up 1.1% on a year-over-year basis. On average, sell-side analysts forecast that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Increases Dividend

The business also recently disclosed 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 a positive change from Sysco's previous quarterly dividend of $0.51. This represents a $2.16 annualized dividend and a yield of 2.82%. Sysco's dividend payout ratio is 55.96%.

Insider Buying and Selling

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 transaction of $25,219.04. Following the completion of the transaction, the director directly owned 12,738 shares in the company, valued at $902,359.92. This trade represents a 2.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SYY. UBS Group reduced their target price 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. Wall Street Zen upgraded Sysco from a "hold" rating to a "buy" rating in a research report on Saturday. Sanford C. Bernstein set a $87.00 target price on shares of Sysco and gave the stock an "overweight" rating in a report on Tuesday, April 22nd. BMO Capital Markets decreased their target price on Sysco from $82.00 to $77.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. raised their price objective on Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a research note on Tuesday, May 20th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $82.77.

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.