10,282 Shares in Sysco Corporation (NYSE:SYY) Purchased by Retirement Planning Co of New England Inc.

Retirement Planning Co of New England Inc. bought a new position in Sysco Corporation (NYSE:SYY - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 10,282 shares of the company's stock, valued at approximately $772,000.

Several other hedge funds and other institutional investors have also modified their holdings of SYY. Rialto Wealth Management LLC raised its holdings 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 acquiring an additional 217 shares in the last quarter. Parvin Asset Management LLC purchased a new stake in shares of Sysco during the fourth quarter worth $29,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Sysco during the fourth quarter worth $31,000. Golden State Wealth Management LLC raised its holdings in shares of Sysco by 48.4% during the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock worth $32,000 after acquiring an additional 140 shares in the last quarter. Finally, Capital A Wealth Management LLC purchased a new stake in shares of Sysco during the fourth quarter worth $34,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 transaction of $25,219.04. Following the sale, the director directly owned 12,738 shares of the company's stock, valued at $902,359.92. This trade represents a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.54% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SYY has been the subject of several recent research reports. BMO Capital Markets cut their price objective on Sysco from $82.00 to $77.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Morgan Stanley raised their target price on Sysco from $72.00 to $77.00 and gave the company an "equal weight" rating in a report on Monday. Barclays cut their target price on Sysco from $87.00 to $77.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Sanford C. Bernstein set a $87.00 target price on Sysco and gave the company an "overweight" rating in a report on Tuesday, April 22nd. Finally, Citigroup began coverage on Sysco in a report on Thursday, May 22nd. They set a "neutral" rating and a $78.00 target price on the stock. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $83.23.

Sysco Stock Performance

Shares of NYSE:SYY traded up $0.47 during midday trading on Friday, hitting $78.38. The company's stock had a trading volume of 2,333,164 shares, compared to its average volume of 3,241,469. The stock has a market capitalization of $37.99 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 2.33 and a beta of 0.81. The stock's 50 day simple moving average is $74.42 and its 200 day simple moving average is $73.31. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $82.23. The company has a debt-to-equity ratio of 6.37, a quick ratio of 0.76 and a current ratio of 1.26.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.06). The business had revenue of $19.60 billion during the quarter, compared to analyst estimates of $20.11 billion. Sysco had a net margin of 2.36% and a return on equity of 107.96%. The company's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.96 earnings per share. As a group, research analysts anticipate that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Increases Dividend

The firm 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 is an increase from Sysco's previous quarterly dividend of $0.51. This represents a $2.16 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Thursday, July 3rd. Sysco's dividend payout ratio (DPR) is currently 55.96%.

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.