D.A. Davidson & CO. Has $14.79 Million Stock Position in Sysco Corporation (NYSE:SYY)

D.A. Davidson & CO. raised its position in Sysco Corporation (NYSE:SYY - Free Report) by 14.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 197,053 shares of the company's stock after acquiring an additional 24,530 shares during the period. D.A. Davidson & CO.'s holdings in Sysco were worth $14,787,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Boston Partners grew its position in 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 period. Norges Bank bought a new position in shares of Sysco in the fourth quarter valued at $450,441,000. Capital Research Global Investors grew its holdings in shares of Sysco by 27.3% during the fourth quarter. Capital Research Global Investors now owns 8,991,476 shares of the company's stock valued at $687,488,000 after buying an additional 1,928,002 shares during the last quarter. Mondrian Investment Partners LTD bought a new stake in shares of Sysco during the fourth quarter worth about $123,928,000. Finally, Canoe Financial LP raised its holdings in shares of Sysco by 29,610.4% in the 1st quarter. Canoe Financial LP now owns 1,431,149 shares of the company's stock worth $107,393,000 after acquiring an additional 1,426,332 shares during the last quarter. Institutional investors own 83.41% of the company's stock.

Insiders Place Their Bets

In related news, Director Sheila Talton sold 356 shares of the business'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 sale, the director directly owned 12,738 shares in the company, valued at approximately $902,359.92. The trade was a 2.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.54% of the company's stock.

Sysco Stock Performance

Shares of SYY stock opened at $76.88 on Friday. The company has a debt-to-equity ratio of 6.37, a quick ratio of 0.76 and a current ratio of 1.26. The firm has a market cap of $37.27 billion, a price-to-earnings ratio of 19.92, a P/E/G ratio of 2.34 and a beta of 0.81. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $82.23. The firm's 50-day simple moving average is $73.15 and its two-hundred day simple moving average is $73.31.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.06). Sysco had a return on equity of 107.96% and a net margin of 2.36%. The company 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. As a group, equities analysts forecast that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.54 per share. This is an increase from Sysco's previous quarterly dividend of $0.51. The ex-dividend date is Thursday, July 3rd. This represents a $2.16 annualized dividend and a dividend yield of 2.81%. Sysco's dividend payout ratio is presently 52.85%.

Analyst Ratings Changes

A number of research firms have issued reports on SYY. Sanford C. Bernstein set a $87.00 price target on Sysco and gave the company an "overweight" rating in a research note on Tuesday, April 22nd. Wall Street Zen cut Sysco from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. Wells Fargo & Company lowered their price target on Sysco from $87.00 to $80.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. 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. Finally, Barclays reduced their target price on shares of Sysco from $87.00 to $77.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $83.00.

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.

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