IFM Investors Pty Ltd Buys 10,234 Shares of Sysco Corporation (NYSE:SYY)

IFM Investors Pty Ltd lifted its position in Sysco Corporation (NYSE:SYY - Free Report) by 11.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 98,361 shares of the company's stock after buying an additional 10,234 shares during the quarter. IFM Investors Pty Ltd's holdings in Sysco were worth $7,678,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. NorthCrest Asset Manangement LLC lifted its stake in shares of Sysco by 4.9% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 2,956 shares of the company's stock worth $226,000 after acquiring an additional 139 shares during the period. Golden State Wealth Management LLC lifted its stake in shares of Sysco by 48.4% in 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. MV Capital Management Inc. lifted its stake in shares of Sysco by 0.4% in the fourth quarter. MV Capital Management Inc. now owns 34,330 shares of the company's stock worth $2,625,000 after acquiring an additional 144 shares during the period. Morton Community Bank lifted its stake in shares of Sysco by 0.4% in the fourth quarter. Morton Community Bank now owns 40,585 shares of the company's stock worth $3,103,000 after acquiring an additional 145 shares during the period. Finally, Nemes Rush Group LLC increased its holdings in Sysco by 5.9% in the fourth quarter. Nemes Rush Group LLC now owns 2,631 shares of the company's stock worth $201,000 after purchasing an additional 147 shares in the last quarter. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Sysco Price Performance

SYY traded down $0.18 during trading on Tuesday, reaching $76.53. 680,006 shares of the company were exchanged, compared to its average volume of 3,365,800. The company's 50-day moving average is $73.40 and its two-hundred day moving average is $73.25. The company has a market cap of $37.10 billion, a price-to-earnings ratio of 19.83, a P/E/G ratio of 2.33 and a beta of 0.81. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 6.37. Sysco Corporation has a 12-month low of $67.12 and a 12-month 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 the consensus estimate 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 net margin of 2.36% and a return on equity of 107.96%. Sysco's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.96 earnings per share. Research analysts forecast that Sysco Corporation 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 positive change from Sysco's previous quarterly dividend of $0.51. This represents a $2.16 annualized dividend and a dividend yield of 2.82%. Sysco's dividend payout ratio is 55.96%.

Insider Activity at Sysco

In other news, Director Sheila Talton sold 356 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $70.84, for a total transaction of $25,219.04. Following the transaction, the director directly owned 12,738 shares in the company, valued at approximately $902,359.92. This represents a 2.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.54% of the company's stock.

Wall Street Analyst Weigh In

SYY has been the subject of a number of research analyst reports. Barclays lowered their target price on Sysco from $87.00 to $77.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. JPMorgan Chase & Co. boosted their price objective on Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a report on Tuesday, May 20th. Sanford C. Bernstein set a $87.00 price objective on Sysco and gave the company an "overweight" rating in a report on Tuesday, April 22nd. Wall Street Zen raised Sysco from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Citigroup assumed coverage on Sysco in a research note on Thursday, May 22nd. They issued a "neutral" rating and a $78.00 price objective for the company. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Sysco presently has a consensus rating of "Moderate Buy" and a consensus target price of $82.77.

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.