Sendero Wealth Management LLC grew its holdings in shares of Sysco Co. (NYSE:SYY - Free Report) by 150.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,761 shares of the company's stock after buying an additional 5,261 shares during the period. Sendero Wealth Management LLC's holdings in Sysco were worth $657,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently modified their holdings of SYY. Rialto Wealth Management LLC lifted its holdings in shares of Sysco by 188.7% in the 1st quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock worth $25,000 after purchasing an additional 217 shares in the last quarter. Parvin Asset Management LLC bought a new position in shares of Sysco in the 4th quarter worth $29,000. Stonebridge Financial Group LLC bought a new position in shares of Sysco in the 4th quarter worth $31,000. Sherman Asset Management Inc. bought a new position in shares of Sysco in the 4th quarter worth $31,000. Finally, Flagship Wealth Advisors LLC bought a new position in shares of Sysco in the 4th quarter worth $31,000. 83.41% of the stock is currently owned by institutional investors.
Insider Transactions at Sysco
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 sale, the director now owns 12,738 shares of the company's stock, valued at approximately $902,359.92. This trade represents a 2.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.54% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Sysco from $82.00 to $85.00 and gave the stock an "overweight" rating in a report on Tuesday, May 20th. BMO Capital Markets cut their target price on Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. UBS Group cut their target price on Sysco from $86.00 to $83.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Citigroup began coverage on Sysco in a report on Thursday, May 22nd. They issued a "neutral" rating and a $78.00 target price on the stock. Finally, Wells Fargo & Company dropped 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. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $83.00.
View Our Latest Stock Analysis on SYY
Sysco Stock Performance
Shares of NYSE SYY traded up $0.79 during mid-day trading on Friday, reaching $74.56. 2,722,564 shares of the company's stock were exchanged, compared to its average volume of 3,332,417. The firm has a market capitalization of $36.15 billion, a price-to-earnings ratio of 19.17, a price-to-earnings-growth 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. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The firm has a 50-day moving average price of $71.67 and a two-hundred day moving average price of $73.70.
Sysco (NYSE:SYY - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.96 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 the consensus estimate of $20.11 billion. Sysco had a return on equity of 106.30% and a net margin of 2.40%. The company's revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.96 earnings per share. Analysts predict that Sysco Co. will post 4.58 EPS for the current year.
Sysco Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.90%. This is a boost from Sysco's previous quarterly dividend of $0.51. The ex-dividend date is Thursday, July 3rd. Sysco's payout ratio is presently 55.96%.
About Sysco
(
Free Report)
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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