Markel Group Inc. Buys New Position in Sysco Corporation (NYSE:SYY)

Markel Group Inc. purchased a new stake in shares of Sysco Corporation (NYSE:SYY - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 9,000 shares of the company's stock, valued at approximately $675,000.

A number of other hedge funds also recently made changes to their positions in SYY. Rialto Wealth Management LLC lifted its holdings in 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 purchasing an additional 217 shares during the period. Parvin Asset Management LLC acquired a new stake in Sysco in the fourth quarter worth about $29,000. Golden State Wealth Management LLC lifted its holdings in Sysco by 48.4% in the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock worth $32,000 after purchasing an additional 140 shares during the period. Capital A Wealth Management LLC acquired a new stake in Sysco in the fourth quarter worth about $34,000. Finally, Ameriflex Group Inc. acquired a new stake in Sysco in the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 83.41% of the company's stock.

Sysco Price Performance

Shares of NYSE:SYY traded up $0.78 during midday trading on Monday, reaching $79.19. The company's stock had a trading volume of 133,168 shares, compared to its average volume of 3,239,908. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $82.23. The company has a market capitalization of $38.39 billion, a P/E ratio of 20.46, a P/E/G ratio of 2.36 and a beta of 0.81. The company has a debt-to-equity ratio of 6.37, a current ratio of 1.26 and a quick ratio of 0.76. The business's fifty day simple moving average is $74.58 and its 200-day simple moving average is $73.28.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings data 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). Sysco had a net margin of 2.36% and a return on equity of 107.96%. The business had revenue of $19.60 billion during the quarter, compared to analyst estimates of $20.11 billion. During the same quarter in the prior year, the firm posted $0.96 earnings per share. Sysco's revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, equities research analysts expect that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date 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%.

Analysts Set New Price Targets

A number of brokerages have weighed in on SYY. Morgan Stanley upped their price target on shares of Sysco from $72.00 to $77.00 and gave the company an "equal weight" rating in a report on Monday, July 14th. UBS Group reduced their price objective on shares of Sysco from $86.00 to $83.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Bank of America upped their price objective on shares of Sysco from $81.00 to $93.00 and gave the company a "buy" rating in a research note on Friday. JPMorgan Chase & Co. upped their target price on Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a report on Tuesday, May 20th. Finally, Citigroup assumed coverage on Sysco in a report on Thursday, May 22nd. They issued a "neutral" rating and a $78.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $83.23.

Insider Buying and Selling

In other news, Director Sheila Talton sold 356 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $70.84, for a total transaction of $25,219.04. Following the sale, the director directly owned 12,738 shares of the company's stock, valued at approximately $902,359.92. This represents a 2.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

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.