Sysco Corporation (NYSE:SYY) Shares Purchased by MFA Wealth Advisors LLC

MFA Wealth Advisors LLC increased its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 75.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,292 shares of the company's stock after acquiring an additional 3,565 shares during the quarter. MFA Wealth Advisors LLC's holdings in Sysco were worth $622,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Rialto Wealth Management LLC lifted its position in Sysco by 188.7% during the 1st quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock worth $25,000 after acquiring an additional 217 shares during the period. Parvin Asset Management LLC acquired a new stake in shares of Sysco during the fourth quarter worth $29,000. Sherman Asset Management Inc. acquired a new stake in shares of Sysco during the fourth quarter worth $31,000. Flagship Wealth Advisors LLC purchased a new position in Sysco in the 4th quarter valued at $31,000. Finally, SRS Capital Advisors Inc. increased its stake in Sysco by 53.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock valued at $33,000 after buying an additional 149 shares during the period. 83.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Sheila Talton sold 356 shares of the business's stock in a transaction that occurred 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 now owns 12,738 shares of the company's stock, valued at $902,359.92. The trade was a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on SYY shares. Sanford C. Bernstein set a $87.00 target price on shares of Sysco and gave the company an "overweight" rating in a report on Tuesday, April 22nd. Wells Fargo & Company reduced their price objective on shares of Sysco from $87.00 to $80.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. BMO Capital Markets dropped their target price on Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Barclays cut their target price on Sysco from $87.00 to $77.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Finally, Citigroup began coverage on Sysco in a research note on Thursday, May 22nd. They issued a "neutral" rating and a $78.00 price target on the stock. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Sysco currently has an average rating of "Moderate Buy" and a consensus target price of $83.00.

Sysco Price Performance

Shares of NYSE:SYY traded up $0.74 during midday trading on Friday, hitting $74.71. 4,897,713 shares of the stock were exchanged, compared to its average volume of 3,316,820. Sysco Corporation has a twelve month low of $67.12 and a twelve month high of $82.23. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 6.37. The company has a 50 day moving average price of $72.41 and a 200-day moving average price of $73.59. The stock has a market cap of $36.21 billion, a P/E ratio of 19.35, a PEG ratio of 2.39 and a beta of 0.81.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.96 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 company earned $0.96 earnings per share. The firm's revenue for the quarter was up 1.1% compared to the same quarter last year. On average, research analysts forecast that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Increases Dividend

The business 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 represents a $2.16 dividend on an annualized basis and a dividend yield of 2.89%. This is a boost from Sysco's previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Thursday, July 3rd. Sysco's payout ratio is 52.85%.

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.