Stockman Wealth Management Inc. Has $8.34 Million Holdings in Sysco Co. (NYSE:SYY)

Stockman Wealth Management Inc. increased its position in shares of Sysco Co. (NYSE:SYY - Free Report) by 10.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,186 shares of the company's stock after acquiring an additional 10,534 shares during the period. Stockman Wealth Management Inc.'s holdings in Sysco were worth $8,343,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the company. Sagespring Wealth Partners LLC lifted its holdings in Sysco by 4.0% in the 1st quarter. Sagespring Wealth Partners LLC now owns 5,352 shares of the company's stock worth $402,000 after purchasing an additional 204 shares during the last quarter. Western Pacific Wealth Management LP grew its holdings in shares of Sysco by 234.9% during the 1st quarter. Western Pacific Wealth Management LP now owns 5,810 shares of the company's stock worth $436,000 after purchasing an additional 4,075 shares in the last quarter. M.E. Allison & CO. Inc. increased its holdings in Sysco by 26.6% in the 1st quarter. M.E. Allison & CO. Inc. now owns 8,385 shares of the company's stock valued at $629,000 after buying an additional 1,761 shares during the period. Mission Wealth Management LP increased its stake in Sysco by 41.6% in the first quarter. Mission Wealth Management LP now owns 11,650 shares of the company's stock valued at $874,000 after acquiring an additional 3,424 shares during the period. Finally, Columbus Macro LLC grew its stake in shares of Sysco by 2.1% in the 1st quarter. Columbus Macro LLC now owns 96,110 shares of the company's stock valued at $7,212,000 after purchasing an additional 1,939 shares during the period. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company dropped their target price on shares of Sysco from $87.00 to $80.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Barclays lowered their price objective on Sysco from $87.00 to $77.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. JPMorgan Chase & Co. upped their target price on shares of Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a research report on Tuesday, May 20th. Sanford C. Bernstein set a $87.00 price target on Sysco and gave the company an "overweight" rating in a research note on Tuesday, April 22nd. Finally, BMO Capital Markets dropped their target price on shares of Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $83.00.

Insider Activity

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

Sysco Stock Up 0.7%

SYY traded up $0.48 during trading hours on Monday, hitting $74.77. 2,924,057 shares of the company's stock were exchanged, compared to its average volume of 3,332,892. The stock has a market cap of $36.25 billion, a price-to-earnings ratio of 19.22, a PEG 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. The stock's 50-day moving average is $71.98 and its two-hundred day moving average is $73.64. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66.

Sysco (NYSE:SYY - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.06). The company had revenue of $19.60 billion for the quarter, compared to analyst estimates of $20.11 billion. Sysco had a return on equity of 106.30% and a net margin of 2.40%. The firm's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period last year, the firm earned $0.96 EPS. Sell-side analysts predict that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be issued a dividend of $0.54 per share. This is an increase from Sysco's previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.16 annualized dividend and a dividend yield of 2.89%. Sysco's payout ratio is presently 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.