Simplicity Wealth LLC Buys 5,412 Shares of Sysco Co. (NYSE:SYY)

Simplicity Wealth LLC grew its holdings in shares of Sysco Co. (NYSE:SYY - Free Report) by 50.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,207 shares of the company's stock after buying an additional 5,412 shares during the period. Simplicity Wealth LLC's holdings in Sysco were worth $1,216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in SYY. Vanguard Group Inc. boosted its holdings in shares of Sysco by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 61,519,424 shares of the company's stock valued at $4,703,775,000 after buying an additional 429,711 shares in the last quarter. Invesco Ltd. grew its position in Sysco by 5.3% in the 4th quarter. Invesco Ltd. now owns 16,907,541 shares of the company's stock valued at $1,292,751,000 after buying an additional 851,441 shares during the last quarter. Boston Partners lifted its stake 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 acquiring an additional 7,184,754 shares during the period. Geode Capital Management LLC increased its stake in shares of Sysco by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 11,868,965 shares of the company's stock worth $905,120,000 after acquiring an additional 233,885 shares during the period. Finally, Capital Research Global Investors lifted its position in Sysco by 27.3% in the fourth quarter. Capital Research Global Investors now owns 8,991,476 shares of the company's stock valued at $687,488,000 after purchasing an additional 1,928,002 shares during the period. Hedge funds and other institutional investors own 83.41% of the company's stock.

Wall Street Analyst Weigh In

SYY has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Sysco from $82.00 to $85.00 and gave the stock an "overweight" rating in a report on Tuesday, May 20th. Citigroup initiated coverage on Sysco in a report on Thursday, May 22nd. They issued a "neutral" rating and a $78.00 price target on the stock. Barclays decreased their target price on Sysco from $87.00 to $77.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. 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. Finally, BMO Capital Markets lowered their price objective on shares of Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Sysco presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.00.

Insider Activity at Sysco

In other news, Director Sheila Talton sold 356 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was 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 $902,359.92. The trade was a 2.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.54% of the stock is owned by corporate insiders.

Sysco Stock Up 0.6%

NYSE SYY traded up $0.42 on Thursday, reaching $75.16. The company had a trading volume of 909,340 shares, compared to its average volume of 3,321,987. 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 company's fifty day moving average is $71.73 and its 200-day moving average is $73.71. The firm has a market capitalization of $36.43 billion, a price-to-earnings ratio of 19.32, a price-to-earnings-growth ratio of 1.88 and a beta of 0.81. Sysco Co. has a 1-year low of $67.12 and a 1-year high of $82.23.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly 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). Sysco had a return on equity of 106.30% and a net margin of 2.40%. The business had revenue of $19.60 billion for the quarter, compared to the consensus estimate of $20.11 billion. During the same period in the prior year, the business posted $0.96 earnings per share. Sysco's revenue was up 1.1% compared to the same quarter last year. On average, research analysts forecast that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Increases Dividend

The company also recently disclosed 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 of this dividend is Thursday, July 3rd. This is a boost from Sysco's previous quarterly dividend of $0.51. This represents a $2.16 annualized dividend and a dividend yield of 2.87%. Sysco's dividend payout ratio is 55.96%.

Sysco 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.