Factory Mutual Insurance Co. Takes Position in Sysco Co. (NYSE:SYY)

Factory Mutual Insurance Co. acquired a new position in Sysco Co. (NYSE:SYY - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 79,500 shares of the company's stock, valued at approximately $5,966,000.

A number of other large investors also recently bought and sold shares of the business. Rialto Wealth Management LLC raised its position in shares of Sysco by 188.7% in the 1st quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock worth $25,000 after acquiring an additional 217 shares in the last quarter. Parvin Asset Management LLC purchased a new position in Sysco in the fourth quarter valued at about $29,000. Stonebridge Financial Group LLC purchased a new position in Sysco in the fourth quarter valued at about $31,000. Sherman Asset Management Inc. bought a new position in Sysco in the fourth quarter worth about $31,000. Finally, Flagship Wealth Advisors LLC purchased a new stake in shares of Sysco during the fourth quarter valued at about $31,000. Institutional investors own 83.41% of the company's stock.

Sysco Stock Performance

Sysco stock traded down $1.15 during trading hours on Friday, hitting $74.24. 2,255,195 shares of the stock traded hands, compared to its average volume of 3,334,535. The firm's 50 day moving average price is $71.98 and its 200-day moving average price is $73.67. The stock has a market capitalization of $35.99 billion, a price-to-earnings ratio of 19.09, a P/E/G ratio of 1.88 and a beta of 0.81. Sysco Co. 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 5.66, a current ratio of 1.20 and a quick ratio of 0.68.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 EPS for the quarter, missing the consensus estimate 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 net margin of 2.40% and a return on equity of 106.30%. The business's revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.96 earnings per share. As a group, equities analysts expect that Sysco Co. will post 4.58 EPS for the current fiscal 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 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 dividend yield of 2.91%. This is a positive change from Sysco's previous quarterly dividend of $0.51. Sysco's dividend payout ratio (DPR) is presently 55.96%.

Insider Activity

In related news, Director Sheila Talton sold 356 shares of the business'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 transaction, the director now directly owns 12,738 shares in the company, valued at $902,359.92. The trade was a 2.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.54% of the company's stock.

Wall Street Analyst Weigh In

SYY has been the topic of a number of analyst reports. UBS Group cut 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. Wells Fargo & Company lowered their target price on shares of Sysco from $87.00 to $80.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Citigroup assumed coverage on Sysco in a research report on Thursday, May 22nd. They set a "neutral" rating and a $78.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a report on Tuesday, May 20th. Finally, Barclays dropped their target price on Sysco from $87.00 to $77.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $83.00.

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.