Sysco Corporation (NYSE:SYY) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. cut its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 5.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 71,691 shares of the company's stock after selling 4,322 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Sysco were worth $5,380,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. NorthCrest Asset Manangement LLC increased its holdings in Sysco by 4.9% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 2,956 shares of the company's stock valued at $226,000 after buying an additional 139 shares in the last quarter. MV Capital Management Inc. boosted its stake in shares of Sysco by 0.4% during the 4th quarter. MV Capital Management Inc. now owns 34,330 shares of the company's stock worth $2,625,000 after acquiring an additional 144 shares in the last quarter. Morton Community Bank grew its position in shares of Sysco by 0.4% during the 4th quarter. Morton Community Bank now owns 40,585 shares of the company's stock valued at $3,103,000 after acquiring an additional 145 shares during the period. Nemes Rush Group LLC increased its stake in shares of Sysco by 5.9% in the 4th quarter. Nemes Rush Group LLC now owns 2,631 shares of the company's stock valued at $201,000 after purchasing an additional 147 shares in the last quarter. Finally, SRS Capital Advisors Inc. increased its stake in shares of Sysco by 53.0% in the 4th 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. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Sysco Price Performance

Shares of NYSE:SYY traded up $0.74 during midday trading on Friday, hitting $74.71. The company's stock had a trading volume of 4,897,713 shares, compared to its average volume of 3,295,380. Sysco Corporation has a 12-month low of $67.12 and a 12-month high of $82.23. The company has a market cap of $36.21 billion, a P/E ratio of 19.35, a price-to-earnings-growth ratio of 2.42 and a beta of 0.81. 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 business's 50 day simple moving average is $72.41 and its 200 day simple moving average is $73.54.

Sysco (NYSE:SYY - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.06). The company 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 company's revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.96 earnings per share. On average, analysts forecast that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be paid a $0.54 dividend. The ex-dividend date is Thursday, July 3rd. This is an increase from Sysco's previous quarterly dividend of $0.51. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.89%. Sysco's dividend payout ratio (DPR) is 52.85%.

Wall Street Analyst Weigh In

SYY has been the topic of a number of recent analyst reports. UBS Group lowered their price target on Sysco from $86.00 to $83.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. 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. Barclays dropped their price target on shares of Sysco from $87.00 to $77.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. BMO Capital Markets reduced their price objective on shares of Sysco from $82.00 to $77.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Finally, Wall Street Zen downgraded shares of Sysco from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 20th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $83.00.

Insider Buying and Selling

In other Sysco news, Director Sheila Talton sold 356 shares of Sysco stock in a transaction on 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 now owns 12,738 shares in the company, valued at $902,359.92. The trade was a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.54% of the stock is owned by company insiders.

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.