Gilman Hill Asset Management LLC Buys 11,062 Shares of Sysco Co. (NYSE:SYY)

Gilman Hill Asset Management LLC grew its position in Sysco Co. (NYSE:SYY - Free Report) by 20.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 64,759 shares of the company's stock after purchasing an additional 11,062 shares during the period. Gilman Hill Asset Management LLC's holdings in Sysco were worth $4,860,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Rialto Wealth Management LLC raised its stake in shares of Sysco by 188.7% in the first quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock valued at $25,000 after acquiring an additional 217 shares during the last quarter. Parvin Asset Management LLC bought a new position in Sysco in the 4th quarter valued at $29,000. Stonebridge Financial Group LLC acquired a new position in Sysco in the fourth quarter worth $31,000. Flagship Wealth Advisors LLC bought a new stake in shares of Sysco during the fourth quarter worth $31,000. Finally, Sherman Asset Management Inc. acquired a new stake in shares of Sysco in the fourth quarter valued at $31,000. Institutional investors own 83.41% of the company's stock.

Sysco Trading Up 1.1%

Shares of NYSE:SYY traded up $0.79 during mid-day trading on Friday, reaching $74.56. The stock had a trading volume of 2,722,564 shares, compared to its average volume of 3,325,672. The firm has a 50 day simple moving average of $71.68 and a two-hundred day simple moving average of $73.70. Sysco Co. has a twelve month low of $67.12 and a twelve month high of $82.23. The firm has a market cap of $36.15 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 1.88 and a beta of 0.81. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.02 by ($0.06). Sysco had a net margin of 2.40% and a return on equity of 106.30%. The business had revenue of $19.60 billion during the quarter, compared to analyst estimates of $20.11 billion. The firm's revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.96 earnings per share. On average, research analysts predict that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Thursday, July 3rd. This is a boost from Sysco's previous quarterly dividend of $0.51. Sysco's dividend payout ratio is 55.96%.

Insider Buying and Selling at Sysco

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 transaction of $25,219.04. Following the completion of the transaction, the director now directly owns 12,738 shares in the company, valued at approximately $902,359.92. This trade represents a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. 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 lowered their price target on shares of Sysco from $82.00 to $77.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. JPMorgan Chase & Co. boosted their price objective on shares of Sysco from $82.00 to $85.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 20th. Citigroup began coverage on Sysco in a research report on Thursday, May 22nd. They issued a "neutral" rating and a $78.00 price objective on the stock. Finally, Wall Street Zen downgraded Sysco from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target 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.