Sysco Corporation (NYSE:SYY) Stake Boosted by New England Research & Management Inc.

New England Research & Management Inc. raised its stake in shares of Sysco Corporation (NYSE:SYY - Free Report) by 24.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 41,493 shares of the company's stock after purchasing an additional 8,159 shares during the period. Sysco accounts for 1.6% of New England Research & Management Inc.'s portfolio, making the stock its 17th largest position. New England Research & Management Inc.'s holdings in Sysco were worth $3,114,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. NorthCrest Asset Manangement LLC grew its stake in shares of Sysco by 4.9% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 2,956 shares of the company's stock valued at $226,000 after buying an additional 139 shares during the period. MV Capital Management Inc. boosted its holdings in Sysco by 0.4% in the fourth quarter. MV Capital Management Inc. now owns 34,330 shares of the company's stock valued at $2,625,000 after acquiring an additional 144 shares during the last quarter. Morton Community Bank boosted its holdings in Sysco by 0.4% in the fourth quarter. Morton Community Bank now owns 40,585 shares of the company's stock valued at $3,103,000 after acquiring an additional 145 shares during the last quarter. Nemes Rush Group LLC grew its position in Sysco by 5.9% during the fourth quarter. Nemes Rush Group LLC now owns 2,631 shares of the company's stock valued at $201,000 after acquiring an additional 147 shares during the period. Finally, SRS Capital Advisors Inc. increased its stake in Sysco by 53.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock worth $33,000 after acquiring an additional 149 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company's stock.

Sysco Stock Down 0.7%

Shares of Sysco stock traded down $0.50 during trading hours on Tuesday, hitting $74.25. 2,351,000 shares of the company's stock traded hands, compared to its average volume of 3,327,189. Sysco Corporation has a twelve month low of $67.12 and a twelve month high of $82.23. The company has a market cap of $35.99 billion, a PE ratio of 19.24, a PEG ratio of 2.42 and a beta of 0.81. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 6.37. The stock has a 50 day simple moving average of $72.18 and a 200-day simple moving average of $73.63.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 earnings per share for the quarter, missing analysts' consensus estimates of $1.02 by ($0.06). Sysco had a net margin of 2.36% and a return on equity of 107.96%. The business had revenue of $19.60 billion for the quarter, compared to analyst estimates of $20.11 billion. During the same quarter last year, the business earned $0.96 EPS. Sysco's revenue for the quarter was up 1.1% compared to the same quarter last year. Equities research analysts anticipate that Sysco Corporation will post 4.58 earnings per share for the current fiscal 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 dividend of $0.54 per share. The ex-dividend date is Thursday, July 3rd. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.91%. This is an increase from Sysco's previous quarterly dividend of $0.51. Sysco's dividend payout ratio (DPR) is presently 52.85%.

Insider Buying and Selling

In related 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 in the company, valued at approximately $902,359.92. This trade 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 is accessible through this link. Insiders own 0.54% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SYY. Wells Fargo & Company reduced their price objective on Sysco from $87.00 to $80.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Citigroup initiated coverage on shares of Sysco in a research report on Thursday, May 22nd. They set a "neutral" rating and a $78.00 price target on the stock. UBS Group decreased their price objective 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 on the stock in a research note on Wednesday, April 30th. Finally, Wall Street Zen cut shares of Sysco from a "strong-buy" rating to a "buy" rating in a research 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. Based on data from MarketBeat, Sysco presently has a consensus rating of "Moderate Buy" and an average price target of $83.00.

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.