Professional Advisory Services Inc. Has $21.48 Million Stock Position in Sysco Co. (NYSE:SYY)

Professional Advisory Services Inc. grew its position in Sysco Co. (NYSE:SYY - Free Report) by 2.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 286,274 shares of the company's stock after buying an additional 7,389 shares during the period. Sysco makes up 3.0% of Professional Advisory Services Inc.'s portfolio, making the stock its 15th largest position. Professional Advisory Services Inc. owned approximately 0.06% of Sysco worth $21,482,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Rialto Wealth Management LLC lifted its position in Sysco by 188.7% in the 1st 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 bought a new stake in Sysco in the 4th quarter valued at $29,000. Stonebridge Financial Group LLC bought a new stake in Sysco in the 4th quarter valued at $31,000. Sherman Asset Management Inc. bought a new stake in Sysco in the 4th quarter valued at $31,000. Finally, Flagship Wealth Advisors LLC bought a new stake in Sysco in the 4th quarter valued at $31,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Insider Activity at Sysco

In related news, Director Sheila Talton sold 356 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $70.84, for a total value of $25,219.04. Following the transaction, the director now owns 12,738 shares in the company, valued at approximately $902,359.92. This represents a 2.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.54% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SYY shares. Barclays cut their price objective on shares of Sysco from $87.00 to $77.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. JPMorgan Chase & Co. boosted their price target on shares of Sysco from $82.00 to $85.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 20th. Sanford C. Bernstein set a $87.00 price target on shares of Sysco and gave the stock an "overweight" rating in a research report on Tuesday, April 22nd. Wells Fargo & Company cut their price target 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. 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 analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $83.00.

Sysco Stock Up 1.1%

Shares of SYY stock opened at $74.56 on Friday. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. The firm's 50-day moving average is $71.67 and its 200-day moving average is $73.71. The stock has a market cap of $36.15 billion, a price-to-earnings ratio of 19.17, 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.

Sysco (NYSE:SYY - Get Free Report) last issued 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 firm had revenue of $19.60 billion during the quarter, compared to the consensus estimate of $20.11 billion. Sysco had a net margin of 2.40% and a return on equity of 106.30%. The firm's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.96 earnings per share. Sell-side analysts predict that Sysco Co. will post 4.58 EPS for the current year.

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be paid a $0.54 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.16 dividend on an annualized basis and a yield of 2.90%. This is a positive change from Sysco's previous quarterly dividend of $0.51. Sysco's dividend payout ratio is 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.

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