Moran Wealth Management LLC Has $9.50 Million Stock Holdings in Sysco Corporation (NYSE:SYY)

Moran Wealth Management LLC increased its holdings in shares of Sysco Corporation (NYSE:SYY - Free Report) by 57.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 126,554 shares of the company's stock after buying an additional 46,264 shares during the quarter. Moran Wealth Management LLC's holdings in Sysco were worth $9,497,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Buckley Wealth Management LLC grew its stake in Sysco by 0.8% during the 4th quarter. Buckley Wealth Management LLC now owns 18,188 shares of the company's stock valued at $1,391,000 after acquiring an additional 150 shares in the last quarter. WR Wealth Planners LLC grew its position in Sysco by 9.9% during the fourth quarter. WR Wealth Planners LLC now owns 4,270 shares of the company's stock valued at $326,000 after purchasing an additional 386 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in Sysco during the fourth quarter valued at approximately $54,000. Fiduciary Trust Co lifted its position in Sysco by 0.3% in the 4th quarter. Fiduciary Trust Co now owns 66,495 shares of the company's stock worth $5,084,000 after buying an additional 196 shares in the last quarter. Finally, UniSuper Management Pty Ltd boosted its stake in shares of Sysco by 23.2% during the 4th quarter. UniSuper Management Pty Ltd now owns 42,904 shares of the company's stock valued at $3,280,000 after buying an additional 8,076 shares during the period. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Trading Down 0.0%

Sysco stock opened at $75.90 on Wednesday. Sysco Corporation has a 52 week low of $67.12 and a 52 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. The firm has a market capitalization of $36.79 billion, a PE ratio of 19.66, a PEG ratio of 2.46 and a beta of 0.81. The business's 50-day simple moving average is $72.58 and its 200-day simple moving average is $73.47.

Sysco (NYSE:SYY - Get Free Report) last issued 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 return on equity of 107.96% and a net margin of 2.36%. The business had revenue of $19.60 billion during the quarter, compared to the consensus estimate of $20.11 billion. During the same period in the prior year, the firm earned $0.96 earnings per share. The business's quarterly revenue was up 1.1% on a year-over-year basis. Equities 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. Shareholders of record on Thursday, July 3rd will be issued a $0.54 dividend. The ex-dividend date is Thursday, July 3rd. This is an increase from Sysco's previous quarterly dividend of $0.51. This represents a $2.16 dividend on an annualized basis and a yield of 2.85%. Sysco's dividend payout ratio is 52.85%.

Analysts Set New Price Targets

Several analysts recently issued reports on SYY shares. UBS Group cut their price objective on Sysco from $86.00 to $83.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Wells Fargo & Company cut their price target on Sysco from $87.00 to $80.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Wall Street Zen lowered Sysco from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 20th. BMO Capital Markets dropped their price objective on Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Finally, Sanford C. Bernstein set a $87.00 price objective on shares of Sysco and gave the company an "overweight" rating in a research report on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Sysco presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.00.

Insiders Place Their Bets

In other Sysco news, Director Sheila Talton sold 356 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was 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. This represents a 2.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.54% of the company's stock.

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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