MV Capital Management Inc. Acquires 3,456 Shares of Sysco Co. (NYSE:SYY)

MV Capital Management Inc. increased its position in Sysco Co. (NYSE:SYY - Free Report) by 10.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,786 shares of the company's stock after purchasing an additional 3,456 shares during the quarter. 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.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Rialto Wealth Management LLC raised its holdings in Sysco by 188.7% in the first quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock valued at $25,000 after acquiring an additional 217 shares in the last quarter. Parvin Asset Management LLC acquired a new stake in Sysco in the fourth quarter valued at $29,000. Stonebridge Financial Group LLC acquired a new stake in Sysco in the fourth quarter valued at $31,000. Flagship Wealth Advisors LLC acquired a new stake in Sysco in the fourth quarter valued at $31,000. Finally, Sherman Asset Management Inc. acquired a new stake in Sysco in the fourth quarter valued at $31,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SYY. Barclays cut their price target on shares of Sysco from $87.00 to $77.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Citigroup initiated coverage on shares of Sysco in a report on Thursday, May 22nd. They set a "neutral" rating and a $78.00 target price on the stock. BMO Capital Markets dropped their target price on shares of Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. UBS Group dropped their target price on shares of Sysco from $86.00 to $83.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Finally, Wall Street Zen cut shares of Sysco from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 20th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Sysco currently has a consensus rating of "Moderate Buy" and an average target price of $83.00.

Sysco Trading Up 0.9%

SYY stock traded up $0.67 during mid-day trading on Thursday, reaching $75.41. 2,420,435 shares of the stock traded hands, compared to its average volume of 3,330,780. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. 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 $36.56 billion, a P/E ratio of 19.39, a P/E/G ratio of 1.88 and a beta of 0.81. The stock's fifty day moving average is $71.85 and its 200-day moving average is $73.70.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 EPS for the quarter, missing analysts' consensus estimates of $1.02 by ($0.06). Sysco had a net margin of 2.40% and a return on equity of 106.30%. The firm had revenue of $19.60 billion for the quarter, compared to analysts' expectations of $20.11 billion. During the same period in the prior year, the company posted $0.96 earnings per share. Sysco's quarterly revenue was up 1.1% compared to the same quarter last year. As a group, sell-side analysts expect that Sysco Co. 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 given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.86%. This is a positive change from Sysco's previous quarterly dividend of $0.51. The ex-dividend date is Thursday, July 3rd. Sysco's dividend payout ratio is 55.96%.

Insider Transactions at Sysco

In other news, Director Sheila Talton sold 356 shares of the 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 sale, the director now directly owns 12,738 shares of the company's stock, valued at $902,359.92. This represents a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.54% of the stock is owned by insiders.

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.