Moloney Securities Asset Management LLC Has $537,000 Stock Position in Sysco Corporation (NYSE:SYY)

Moloney Securities Asset Management LLC lessened its position in shares of Sysco Corporation (NYSE:SYY - Free Report) by 43.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 7,157 shares of the company's stock after selling 5,551 shares during the quarter. Moloney Securities Asset Management LLC's holdings in Sysco were worth $537,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Buckley Wealth Management LLC raised its stake in Sysco by 0.8% during the fourth quarter. Buckley Wealth Management LLC now owns 18,188 shares of the company's stock worth $1,391,000 after buying an additional 150 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Sysco by 2.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 223,510 shares of the company's stock valued at $16,772,000 after purchasing an additional 4,932 shares during the period. Fiduciary Trust Co lifted its stake in shares of Sysco by 0.3% in the 4th quarter. Fiduciary Trust Co now owns 66,495 shares of the company's stock valued at $5,084,000 after purchasing an additional 196 shares during the period. UniSuper Management Pty Ltd grew its stake in Sysco by 23.2% during the fourth quarter. UniSuper Management Pty Ltd now owns 42,904 shares of the company's stock worth $3,280,000 after purchasing an additional 8,076 shares during the period. Finally, Fox Run Management L.L.C. bought a new stake in Sysco in the fourth quarter worth approximately $576,000. Institutional investors own 83.41% of the company's stock.

Analysts Set New Price Targets

SYY has been the topic of a number of research analyst reports. Barclays cut their price target on Sysco from $87.00 to $77.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. BMO Capital Markets reduced their price target on shares of 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 objective on shares of Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a report on Tuesday, May 20th. UBS Group cut their price objective on shares of Sysco from $86.00 to $83.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $82.00 target price on shares of Sysco in a research report on Tuesday. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $82.77.

Insider Activity

In related 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 transaction of $25,219.04. Following the sale, the director directly owned 12,738 shares in the company, valued at approximately $902,359.92. This trade represents a 2.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.54% of the stock is currently owned by corporate insiders.

Sysco Trading Up 1.5%

Shares of Sysco stock opened at $77.47 on Friday. The company has a market capitalization of $37.55 billion, a P/E ratio of 20.07, a price-to-earnings-growth ratio of 2.30 and a beta of 0.81. The stock has a fifty day simple moving average of $73.77 and a 200 day simple moving average of $73.30. Sysco Corporation has a 12-month low of $67.12 and a 12-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.

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). Sysco had a return on equity of 107.96% and a net margin of 2.36%. The firm 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 company earned $0.96 EPS. The business's revenue was up 1.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Increases Dividend

The firm also recently announced 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. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend is Thursday, July 3rd. This is an increase from Sysco's previous quarterly dividend of $0.51. Sysco's payout ratio is presently 55.96%.

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.

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