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

Concurrent Investment Advisors LLC increased its holdings in shares of Sysco Corporation (NYSE:SYY - Free Report) by 17.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Sysco by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 61,519,424 shares of the company's stock worth $4,703,775,000 after buying an additional 429,711 shares during the period. Invesco Ltd. increased its stake in Sysco by 5.3% during the 4th quarter. Invesco Ltd. now owns 16,907,541 shares of the company's stock worth $1,292,751,000 after buying an additional 851,441 shares during the period. Boston Partners increased its position in shares of Sysco by 143.7% in the 4th 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 position in shares of Sysco by 2.0% in the 4th 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 position in shares of 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 purchasing an additional 1,928,002 shares during the last quarter. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Stock Up 1.5%

Shares of NYSE SYY traded up $1.14 during mid-day trading on Thursday, reaching $77.47. The company had a trading volume of 2,435,148 shares, compared to its average volume of 3,234,184. The stock has a market cap of $37.55 billion, a P/E ratio of 20.07, a PEG ratio of 2.31 and a beta of 0.81. The firm has a 50 day simple moving average of $73.63 and a two-hundred day simple moving average of $73.30. 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 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 earnings per share for the quarter, missing analysts' consensus estimates of $1.02 by ($0.06). The business had revenue of $19.60 billion for the quarter, compared to analyst estimates of $20.11 billion. Sysco had a return on equity of 107.96% and a net margin of 2.36%. The firm's revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.96 EPS. Sell-side analysts predict that Sysco Corporation will post 4.58 earnings per share for the current 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 paid a dividend of $0.54 per share. The ex-dividend date is Thursday, July 3rd. This represents a $2.16 dividend on an annualized basis and a yield of 2.79%. This is a boost from Sysco's previous quarterly dividend of $0.51. Sysco's dividend payout ratio is currently 55.96%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SYY shares. Guggenheim reissued a "buy" rating and issued a $82.00 price objective on shares of Sysco in a research report on Tuesday. JPMorgan Chase & Co. increased their price objective on shares of Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a research report on Tuesday, May 20th. Sanford C. Bernstein set a $87.00 price objective on shares of Sysco and gave the company an "overweight" rating in a research report on Tuesday, April 22nd. BMO Capital Markets dropped their price objective on shares of Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Finally, UBS Group dropped their price objective on shares of Sysco from $86.00 to $83.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $82.77.

Insiders Place Their Bets

In other news, Director Sheila Talton sold 356 shares of the firm's stock in a transaction 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 sale, the director owned 12,738 shares in the company, valued at approximately $902,359.92. This trade represents a 2.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.54% of the stock is currently owned by corporate 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.