Sysco Co. (NYSE:SYY) Shares Acquired by Lmcg Investments LLC

Lmcg Investments LLC lifted its stake in Sysco Co. (NYSE:SYY - Free Report) by 55.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 74,507 shares of the company's stock after buying an additional 26,531 shares during the quarter. Lmcg Investments LLC's holdings in Sysco were worth $5,591,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Rialto Wealth Management LLC boosted 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 worth $25,000 after buying an additional 217 shares during the last quarter. Parvin Asset Management LLC purchased a new stake in shares of Sysco in the fourth quarter worth about $29,000. Stonebridge Financial Group LLC purchased a new stake in shares of Sysco in the fourth quarter worth about $31,000. Sherman Asset Management Inc. acquired a new position in Sysco in the 4th quarter worth about $31,000. Finally, Flagship Wealth Advisors LLC acquired a new position in Sysco in the 4th quarter worth about $31,000. Hedge funds and other institutional investors own 83.41% of the company's stock.

Insider Activity

In other 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 completion of the sale, the director now directly owns 12,738 shares of the company's stock, valued at approximately $902,359.92. The trade was a 2.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.54% of the company's stock.

Sysco Trading Up 1.1%

SYY stock traded up $0.83 during midday trading on Thursday, hitting $73.73. 3,008,866 shares of the company's stock were exchanged, compared to its average volume of 3,328,087. The business has a 50-day simple moving average of $71.71 and a two-hundred day simple moving average of $73.72. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The stock has a market capitalization of $35.74 billion, a PE ratio of 18.95, a P/E/G ratio of 1.88 and a beta of 0.80. Sysco Co. has a 1-year low of $67.12 and a 1-year high of $82.23.

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 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 return on equity of 106.30% and a net margin of 2.40%. Sysco's revenue was up 1.1% compared to the same quarter last year. During the same period last year, the business earned $0.96 EPS. On average, sell-side analysts predict that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be paid a $0.54 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This is a boost from Sysco's previous quarterly dividend of $0.51. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.93%. Sysco's payout ratio is presently 55.96%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. BMO Capital Markets reduced their price target on 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. upped their price target on 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 target price on Sysco and gave the company an "overweight" rating in a report on Tuesday, April 22nd. UBS Group reduced their target price on Sysco from $86.00 to $83.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Finally, Barclays reduced their target price on Sysco from $87.00 to $77.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus 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.