NBC Securities Inc. Grows Holdings in Sysco Co. (NYSE:SYY)

NBC Securities Inc. grew its stake in shares of Sysco Co. (NYSE:SYY - Free Report) by 102,415.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 58,434 shares of the company's stock after purchasing an additional 58,377 shares during the period. NBC Securities Inc.'s holdings in Sysco were worth $4,384,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Sysco by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 61,519,424 shares of the company's stock worth $4,703,775,000 after purchasing an additional 429,711 shares in the last quarter. Invesco Ltd. boosted its position in shares of Sysco by 5.3% in the 4th quarter. Invesco Ltd. now owns 16,907,541 shares of the company's stock worth $1,292,751,000 after buying an additional 851,441 shares in the last quarter. Boston Partners boosted its position in shares of Sysco by 143.7% in the 4th quarter. Boston Partners now owns 12,184,114 shares of the company's stock worth $930,296,000 after buying an additional 7,184,754 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Sysco by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 11,868,965 shares of the company's stock worth $905,120,000 after buying an additional 233,885 shares in the last quarter. Finally, Capital Research Global Investors boosted its position in shares of Sysco by 27.3% in the 4th quarter. Capital Research Global Investors now owns 8,991,476 shares of the company's stock worth $687,488,000 after buying an additional 1,928,002 shares in the last quarter. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Wells Fargo & Company decreased their price objective on shares of Sysco from $87.00 to $80.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Sanford C. Bernstein set a $87.00 target price on shares of Sysco and gave the company an "overweight" rating in a research note on Tuesday, April 22nd. UBS Group cut their target price on shares of Sysco from $86.00 to $83.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Barclays cut their target price 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. boosted their target price on shares of Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a research note on Tuesday, May 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 MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $83.00.

Sysco Trading Up 0.2%

SYY traded up $0.13 on Thursday, reaching $73.03. 630,619 shares of the company's stock were exchanged, compared to its average volume of 3,318,407. The company's 50 day moving average is $71.71 and its 200-day moving average is $73.72. The company has a market cap of $35.40 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 1.88 and a beta of 0.80. Sysco Co. has a twelve month low of $67.12 and a twelve month high of $82.23. 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 posted its earnings results 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 for the quarter, compared to analyst estimates of $20.11 billion. Sysco had a return on equity of 106.30% and a net margin of 2.40%. The firm's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period last year, the company posted $0.96 EPS. Equities analysts predict 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. Shareholders of record on Thursday, July 3rd will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend is Thursday, July 3rd. This is a boost from Sysco's previous quarterly dividend of $0.51. Sysco's dividend payout ratio is currently 55.96%.

Insiders Place Their Bets

In other news, Director Sheila Talton sold 356 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 12,738 shares in the company, valued at approximately $902,359.92. This represents a 2.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.54% of the stock is owned by company insiders.

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.