South Dakota Investment Council Makes New $1.32 Million Investment in Sysco Corporation (NYSE:SYY)

South Dakota Investment Council purchased a new stake in Sysco Corporation (NYSE:SYY - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm purchased 17,640 shares of the company's stock, valued at approximately $1,324,000.

A number of other hedge funds also recently bought and sold shares of SYY. Rialto Wealth Management LLC lifted its position in shares of Sysco by 188.7% during 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 during the last quarter. Parvin Asset Management LLC purchased a new position in shares of Sysco during the fourth quarter worth about $29,000. Golden State Wealth Management LLC increased its stake 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 during the period. Capital A Wealth Management LLC acquired a new position in shares of Sysco during the fourth quarter worth about $34,000. Finally, Ameriflex Group Inc. purchased a new position in Sysco in the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Insider Activity

In other news, Director Sheila Talton sold 356 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $70.84, for a total transaction of $25,219.04. Following the completion of the transaction, the director owned 12,738 shares in the company, valued at approximately $902,359.92. This represents a 2.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

Sysco Trading Up 0.4%

Shares of Sysco stock traded up $0.31 during midday trading on Monday, reaching $78.72. The company had a trading volume of 2,305,868 shares, compared to its average volume of 3,247,449. The stock has a fifty day moving average price of $74.58 and a 200 day moving average price of $73.28. The company has a debt-to-equity ratio of 6.37, a current ratio of 1.26 and a quick ratio of 0.76. The firm has a market cap of $38.16 billion, a PE ratio of 17.94, a P/E/G ratio of 2.36 and a beta of 0.81. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $82.23.

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). Sysco had a net margin of 2.36% and a return on equity of 107.96%. The business had revenue of $19.60 billion during the quarter, compared to analyst estimates of $20.11 billion. During the same period last year, the firm posted $0.96 earnings per share. Sysco's quarterly revenue was up 1.1% compared to the same quarter last year. On average, equities analysts anticipate that Sysco Corporation will post 4.58 earnings per share 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 given a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This is a positive change from Sysco's previous quarterly dividend of $0.51. This represents a $2.16 annualized dividend and a dividend yield of 2.74%. Sysco's dividend payout ratio (DPR) is currently 55.96%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Sanford C. Bernstein set a $87.00 target price on shares of Sysco and gave the company an "overweight" rating in a research note on Tuesday, April 22nd. Bank of America raised their price target on shares of Sysco from $81.00 to $93.00 and gave the company a "buy" rating in a report on Friday. Guggenheim reaffirmed a "buy" rating and set a $82.00 price target on shares of Sysco in a report on Tuesday, July 8th. BMO Capital Markets lowered their price target on shares of Sysco from $82.00 to $77.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Finally, Wells Fargo & Company lowered their price target on shares of Sysco from $87.00 to $80.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $83.23.

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.