Sysco Co. (NYSE:SYY) Shares Bought by MV Capital Management Inc.

MV Capital Management Inc. increased its holdings in shares of Sysco Co. (NYSE:SYY - Free Report) by 10.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,786 shares of the company's stock after buying an additional 3,456 shares during the period. MV Capital Management Inc.'s holdings in Sysco were worth $2,835,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC increased its stake in shares of Sysco by 188.7% during 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 in the last quarter. Parvin Asset Management LLC acquired a new stake in Sysco in the 4th quarter worth about $29,000. Stonebridge Financial Group LLC purchased a new stake in Sysco during the 4th quarter worth approximately $31,000. Sherman Asset Management Inc. acquired a new position in shares of Sysco during the fourth quarter valued at approximately $31,000. Finally, Flagship Wealth Advisors LLC purchased a new position in shares of Sysco in the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. UBS Group dropped their price target on Sysco from $86.00 to $83.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Citigroup started coverage on shares of Sysco in a report on Thursday, May 22nd. They set a "neutral" rating and a $78.00 target price for the company. Wells Fargo & Company decreased their price target on shares of Sysco from $87.00 to $80.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Barclays dropped their price objective on shares of Sysco from $87.00 to $77.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. raised their target price on shares of Sysco from $82.00 to $85.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 20th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, Sysco presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.00.

Insider Activity at Sysco

In other Sysco 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 value of $25,219.04. Following the completion of 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 legal filing with the SEC, which is available through this link. Company insiders own 0.54% of the company's stock.

Sysco Trading Down 1.5%

Shares of NYSE SYY traded down $1.15 during mid-day trading on Friday, reaching $74.24. 2,255,195 shares of the company's stock were exchanged, compared to its average volume of 3,334,535. The firm has a market capitalization of $35.99 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 1.88 and a beta of 0.81. Sysco Co. has a 52-week low of $67.12 and a 52-week high of $82.23. The company's 50-day moving average is $71.98 and its 200-day moving average is $73.69. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20.

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

Sysco Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Thursday, July 3rd. This is a boost from Sysco's previous quarterly dividend of $0.51. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.91%. Sysco's payout ratio is presently 55.96%.

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.