Illinois Municipal Retirement Fund lifted its stake in shares of Sysco Corporation (NYSE:SYY - Free Report) by 2.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 184,455 shares of the company's stock after buying an additional 3,685 shares during the period. Illinois Municipal Retirement Fund's holdings in Sysco were worth $13,842,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. FourThought Financial Partners LLC purchased a new stake in Sysco during the 4th quarter valued at about $266,000. Los Angeles Capital Management LLC lifted its holdings in shares of Sysco by 5.0% during the fourth quarter. Los Angeles Capital Management LLC now owns 119,841 shares of the company's stock worth $9,163,000 after purchasing an additional 5,738 shares during the period. Checchi Capital Advisers LLC lifted its holdings in shares of Sysco by 4.1% during the fourth quarter. Checchi Capital Advisers LLC now owns 6,175 shares of the company's stock worth $472,000 after purchasing an additional 242 shares during the period. Whipplewood Advisors LLC purchased a new stake in Sysco in the fourth quarter valued at approximately $205,000. Finally, Mn Services Vermogensbeheer B.V. increased its holdings in Sysco by 1.7% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 196,600 shares of the company's stock worth $15,032,000 after buying an additional 3,200 shares during the period. 83.41% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages have commented on SYY. Wall Street Zen cut shares of Sysco from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. raised their target price on shares of Sysco from $82.00 to $85.00 and gave the stock an "overweight" rating in a report on Tuesday, May 20th. Sanford C. Bernstein set a $87.00 price target on shares of Sysco and gave the company an "overweight" rating in a report on Tuesday, April 22nd. Wells Fargo & Company cut their price target on Sysco from $87.00 to $80.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Finally, UBS Group decreased their price objective on Sysco from $86.00 to $83.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $83.00.
Get Our Latest Analysis on SYY
Insider Activity
In related news, Director Sheila Talton sold 356 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $70.84, for a total transaction of $25,219.04. Following the transaction, the director now directly owns 12,738 shares in the company, valued at approximately $902,359.92. The trade was a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.54% of the company's stock.
Sysco Price Performance
Shares of SYY stock traded up $0.79 during trading hours on Monday, hitting $75.80. 2,975,734 shares of the company's stock were exchanged, compared to its average volume of 3,396,298. The firm has a 50 day moving average of $72.80 and a two-hundred day moving average of $73.30. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $82.23. The firm has a market cap of $36.74 billion, a P/E ratio of 19.64, a P/E/G ratio of 2.43 and a beta of 0.81. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 6.37.
Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings data 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). 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 analyst estimates of $20.11 billion. During the same quarter in the prior year, the company posted $0.96 earnings per share. The business's revenue was up 1.1% on a year-over-year basis. Sell-side analysts forecast that Sysco Corporation will post 4.58 EPS for the current 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. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.85%. This is a boost from Sysco's previous quarterly dividend of $0.51. Sysco's dividend payout ratio is presently 52.85%.
About Sysco
(
Free Report)
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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