CX Institutional Acquires 12,217 Shares of Sysco Co. (NYSE:SYY)

CX Institutional raised its position in Sysco Co. (NYSE:SYY - Free Report) by 82.1% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,101 shares of the company's stock after acquiring an additional 12,217 shares during the period. CX Institutional's holdings in Sysco were worth $2,034,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC raised its holdings in Sysco by 188.7% in the 1st quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock valued at $25,000 after acquiring an additional 217 shares in the last quarter. Parvin Asset Management LLC acquired a new position in Sysco in the 4th quarter valued at approximately $29,000. Stonebridge Financial Group LLC acquired a new position in Sysco in the 4th quarter valued at approximately $31,000. Sherman Asset Management Inc. acquired a new position in Sysco in the 4th quarter valued at approximately $31,000. Finally, Flagship Wealth Advisors LLC acquired a new position in Sysco in the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Insider Transactions at Sysco

In other news, Director Sheila Talton sold 356 shares of the firm's stock in a transaction 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 directly owns 12,738 shares in the company, valued at $902,359.92. This trade represents a 2.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.54% of the stock is owned by corporate insiders.

Sysco Trading Up 0.9%

SYY traded up $0.67 during mid-day trading on Thursday, reaching $75.41. The stock had a trading volume of 2,420,435 shares, compared to its average volume of 3,330,780. The stock has a market capitalization of $36.56 billion, a P/E ratio of 19.39, a P/E/G ratio of 1.88 and a beta of 0.81. 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 firm's fifty day simple moving average is $71.73 and its two-hundred day simple moving average is $73.71. Sysco Co. has a 52 week low of $67.12 and a 52 week high of $82.23.

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

Sysco Increases Dividend

The business 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 a positive change from Sysco's previous quarterly dividend of $0.51. This represents a $2.16 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend is Thursday, July 3rd. Sysco's dividend payout ratio (DPR) is currently 55.96%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Citigroup assumed coverage on Sysco in a report on Thursday, May 22nd. They issued a "neutral" rating and a $78.00 target price for the company. Sanford C. Bernstein set a $87.00 target price on Sysco and gave the stock an "overweight" rating in a report on Tuesday, April 22nd. Wells Fargo & Company dropped their target price on Sysco from $87.00 to $80.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. BMO Capital Markets dropped their target price on Sysco from $82.00 to $77.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Finally, UBS Group dropped their target price on Sysco from $86.00 to $83.00 and set a "buy" rating for the company in a report 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 company's stock. Based on data from MarketBeat, Sysco currently has a consensus rating of "Moderate Buy" and an average target price of $83.00.

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.