Los Angeles Capital Management LLC Buys 145,352 Shares of Sysco Corporation (NYSE:SYY)

Los Angeles Capital Management LLC grew its holdings in shares of Sysco Corporation (NYSE:SYY - Free Report) by 121.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 265,193 shares of the company's stock after buying an additional 145,352 shares during the period. Los Angeles Capital Management LLC owned 0.05% of Sysco worth $19,900,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of SYY. Rialto Wealth Management LLC increased its holdings in 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 buying an additional 217 shares in the last quarter. Parvin Asset Management LLC acquired a new stake in Sysco during the fourth quarter worth approximately $29,000. Golden State Wealth Management LLC raised its holdings in Sysco by 48.4% in the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock valued at $32,000 after acquiring an additional 140 shares during the last quarter. Capital A Wealth Management LLC acquired a new position in Sysco in the 4th quarter valued at $34,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of Sysco during the 4th quarter valued at $35,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SYY has been the topic of a number of recent analyst reports. 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 report on Tuesday, May 20th. Wall Street Zen lowered shares of Sysco from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. Sanford C. Bernstein set a $87.00 target price on shares of Sysco and gave the company an "overweight" rating in a research note on Tuesday, April 22nd. Barclays cut their target price 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. Finally, BMO Capital Markets cut their target price on shares of Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $83.23.

Sysco Stock Performance

Shares of NYSE:SYY traded up $0.31 during midday trading on Monday, hitting $78.72. The company's stock had a trading volume of 2,305,868 shares, compared to its average volume of 3,247,449. The stock has a market capitalization of $38.16 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 2.36 and a beta of 0.81. The stock's 50 day simple moving average is $74.58 and its 200 day simple moving average is $73.28. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $82.23. The company has a debt-to-equity ratio of 6.37, a quick ratio of 0.76 and a current ratio of 1.26.

Sysco (NYSE:SYY - Get Free Report) last released 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). Sysco had a net margin of 2.36% and a return on equity of 107.96%. The company had revenue of $19.60 billion during the quarter, compared to the consensus estimate of $20.11 billion. During the same quarter in the previous year, the business posted $0.96 EPS. The firm's quarterly revenue was up 1.1% on a year-over-year basis. As a group, research analysts anticipate that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be issued a $0.54 dividend. This is a positive change from Sysco's previous quarterly dividend of $0.51. The ex-dividend date is Thursday, July 3rd. This represents a $2.16 annualized dividend and a dividend yield of 2.74%. Sysco's payout ratio is 55.96%.

Insider Activity

In other 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 owned 12,738 shares of the company's stock, valued at $902,359.92. The trade was a 2.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.54% of the stock is owned by company insiders.

Sysco Company 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.