Miracle Mile Advisors LLC Sells 6,008 Shares of Sysco Co. (NYSE:SYY)

Miracle Mile Advisors LLC decreased its position in Sysco Co. (NYSE:SYY - Free Report) by 7.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 74,293 shares of the company's stock after selling 6,008 shares during the quarter. Miracle Mile Advisors LLC's holdings in Sysco were worth $5,575,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. NorthCrest Asset Manangement LLC raised its holdings in Sysco by 4.9% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 2,956 shares of the company's stock worth $226,000 after purchasing an additional 139 shares in the last quarter. MV Capital Management Inc. increased its holdings in shares of Sysco by 0.4% during the fourth quarter. MV Capital Management Inc. now owns 34,330 shares of the company's stock valued at $2,625,000 after acquiring an additional 144 shares in the last quarter. Morton Community Bank increased its holdings in shares of Sysco by 0.4% during the fourth quarter. Morton Community Bank now owns 40,585 shares of the company's stock valued at $3,103,000 after acquiring an additional 145 shares in the last quarter. Nemes Rush Group LLC increased its holdings in shares of Sysco by 5.9% during the fourth quarter. Nemes Rush Group LLC now owns 2,631 shares of the company's stock valued at $201,000 after acquiring an additional 147 shares in the last quarter. Finally, SRS Capital Advisors Inc. increased its holdings in shares of Sysco by 53.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock valued at $33,000 after acquiring an additional 149 shares in the last quarter. Institutional investors own 83.41% of the company's stock.

Analyst Ratings Changes

SYY has been the subject of several analyst reports. Sanford C. Bernstein set a $87.00 price target on Sysco and gave the company an "overweight" rating in a report on Tuesday, April 22nd. Wells Fargo & Company reduced their price target on Sysco from $87.00 to $80.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. 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. Wall Street Zen downgraded Sysco from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 20th. Finally, UBS Group reduced their price target 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 company. According to MarketBeat.com, Sysco has a consensus rating of "Moderate Buy" and a consensus target price of $83.00.

Insider Buying and Selling

In other news, Director Sheila Talton sold 356 shares of Sysco stock in a transaction dated Thursday, May 1st. The stock was 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 of the company's stock, valued at $902,359.92. The trade was a 2.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.54% of the stock is currently owned by insiders.

Sysco Trading Up 1.1%

Sysco stock opened at $74.56 on Monday. Sysco Co. has a 52-week low of $67.12 and a 52-week high of $82.23. The company has a market cap of $36.15 billion, a P/E ratio of 19.17, a P/E/G ratio of 1.88 and a beta of 0.81. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The business has a 50-day simple moving average of $71.67 and a two-hundred day simple moving average of $73.70.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.02 by ($0.06). The business had revenue of $19.60 billion during the quarter, compared to analysts' expectations of $20.11 billion. Sysco had a return on equity of 106.30% and a net margin of 2.40%. The business's quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.96 EPS. Analysts predict that Sysco Co. will post 4.58 EPS for the current year.

Sysco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be issued a $0.54 dividend. This is an increase from Sysco's previous quarterly dividend of $0.51. 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 2.90%. Sysco's dividend payout ratio (DPR) is presently 55.96%.

Sysco 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.

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