Fifth Third Wealth Advisors LLC Has $395,000 Stake in Sysco Co. (NYSE:SYY)

Fifth Third Wealth Advisors LLC decreased its position in shares of Sysco Co. (NYSE:SYY - Free Report) by 60.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,267 shares of the company's stock after selling 7,993 shares during the period. Fifth Third Wealth Advisors LLC's holdings in Sysco were worth $395,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in shares of Sysco by 6,605.6% during the first quarter. GAMMA Investing LLC now owns 468,925 shares of the company's stock worth $35,188,000 after buying an additional 461,932 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Sysco by 41.5% in the first quarter. Versant Capital Management Inc now owns 1,764 shares of the company's stock valued at $132,000 after purchasing an additional 517 shares in the last quarter. Insight Wealth Strategies LLC increased its holdings in shares of Sysco by 1.1% in the first quarter. Insight Wealth Strategies LLC now owns 60,740 shares of the company's stock valued at $4,558,000 after purchasing an additional 637 shares in the last quarter. Fairtree Asset Management Pty Ltd acquired a new stake in shares of Sysco in the fourth quarter valued at approximately $648,000. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Sysco by 34.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 218,578 shares of the company's stock valued at $16,712,000 after purchasing an additional 56,419 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company's stock.

Insider Buying and Selling

In related news, Director Sheila Talton sold 356 shares of the firm's stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $70.84, for a total transaction of $25,219.04. Following the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.54% of the stock is currently owned by company insiders.

Sysco Trading Up 1.1%

Shares of NYSE SYY traded up $0.83 during midday trading on Thursday, reaching $73.73. 3,008,866 shares of the stock were exchanged, compared to its average volume of 3,327,672. The business has a 50-day simple moving average of $71.71 and a two-hundred day simple moving average of $73.72. The company has a market capitalization of $35.74 billion, a price-to-earnings ratio of 18.95, a P/E/G ratio of 1.88 and a beta of 0.80. Sysco Co. has a 12 month low of $67.12 and a 12 month 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.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share for the quarter, missing analysts' consensus estimates of $1.02 by ($0.06). The firm 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% compared to the same quarter last year. During the same period in the prior year, the business earned $0.96 earnings per share. As a group, equities research analysts expect that Sysco Co. will post 4.58 EPS for the current year.

Sysco Increases Dividend

The business also recently disclosed 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 represents a $2.16 dividend on an annualized basis and a dividend yield of 2.93%. This is a positive change from Sysco's previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Thursday, July 3rd. Sysco's dividend payout ratio (DPR) is presently 55.96%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. 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. Sanford C. Bernstein set a $87.00 price objective on shares of Sysco and gave the company an "overweight" rating in a research note on Tuesday, April 22nd. Wall Street Zen cut shares of Sysco from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. Citigroup started coverage on shares of Sysco in a research note on Thursday, May 22nd. They issued a "neutral" rating and a $78.00 price objective on the stock. Finally, Barclays reduced their price objective on shares of Sysco from $87.00 to $77.00 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 assigned a buy rating to the stock. According to MarketBeat.com, Sysco has a consensus rating of "Moderate Buy" and a consensus price target of $83.00.

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.