Sysco Corporation (NYSE:SYY) Shares Purchased by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC boosted its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 17.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,630 shares of the company's stock after purchasing an additional 4,811 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Sysco were worth $2,449,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Sysco by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 61,519,424 shares of the company's stock valued at $4,703,775,000 after purchasing an additional 429,711 shares during the last quarter. Invesco Ltd. increased its stake in Sysco by 5.3% in the fourth quarter. Invesco Ltd. now owns 16,907,541 shares of the company's stock valued at $1,292,751,000 after purchasing an additional 851,441 shares during the last quarter. Boston Partners increased its stake in Sysco by 143.7% in the fourth quarter. Boston Partners now owns 12,184,114 shares of the company's stock valued at $930,296,000 after purchasing an additional 7,184,754 shares during the last quarter. Geode Capital Management LLC increased its stake in Sysco by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 11,868,965 shares of the company's stock valued at $905,120,000 after purchasing an additional 233,885 shares during the last quarter. Finally, Capital Research Global Investors increased its stake in Sysco by 27.3% in the fourth quarter. Capital Research Global Investors now owns 8,991,476 shares of the company's stock valued at $687,488,000 after purchasing an additional 1,928,002 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

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 value of $25,219.04. Following the completion of the transaction, the director owned 12,738 shares of the company's stock, valued at approximately $902,359.92. This represents a 2.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.54% of the company's stock.

Analyst Ratings Changes

SYY has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price target on Sysco from $82.00 to $85.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 20th. Citigroup initiated coverage on Sysco in a research note on Thursday, May 22nd. They set a "neutral" rating and a $78.00 price target for the company. Sanford C. Bernstein set a $87.00 price target on Sysco and gave the stock an "overweight" rating in a research note on Tuesday, April 22nd. Wall Street Zen upgraded Sysco from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Barclays dropped their price target on Sysco from $87.00 to $77.00 and set an "overweight" 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 stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $82.77.

Sysco Stock Down 0.2%

SYY traded down $0.14 on Wednesday, reaching $76.39. The company's stock had a trading volume of 1,671,680 shares, compared to its average volume of 3,237,379. The stock has a market cap of $37.03 billion, a price-to-earnings ratio of 19.79, a price-to-earnings-growth ratio of 2.31 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 debt-to-equity ratio of 6.37, a current ratio of 1.26 and a quick ratio of 0.76. The business's 50 day moving average is $73.63 and its 200 day moving average is $73.30.

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 business had revenue of $19.60 billion during 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%. The company's revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.96 EPS. As a group, research analysts forecast that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be issued a $0.54 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $2.16 dividend on an annualized basis and a yield of 2.83%. This is an increase from Sysco's previous quarterly dividend of $0.51. Sysco's dividend payout ratio is currently 55.96%.

Sysco Company 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.