IFP Advisors Inc Buys 6,468 Shares of Sysco Corporation (NYSE:SYY)

IFP Advisors Inc grew its stake in Sysco Corporation (NYSE:SYY - Free Report) by 23.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,711 shares of the company's stock after purchasing an additional 6,468 shares during the quarter. IFP Advisors Inc's holdings in Sysco were worth $2,531,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. increased its position in Sysco by 10.5% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 3,981 shares of the company's stock worth $304,000 after acquiring an additional 379 shares during the period. TD Private Client Wealth LLC increased its holdings in Sysco by 94.2% in the 4th quarter. TD Private Client Wealth LLC now owns 15,462 shares of the company's stock valued at $1,182,000 after buying an additional 7,502 shares during the period. Mizuho Securities USA LLC increased its holdings in Sysco by 46.0% in the 4th quarter. Mizuho Securities USA LLC now owns 46,557 shares of the company's stock valued at $3,560,000 after buying an additional 14,669 shares during the period. Fox Run Management L.L.C. bought a new position in Sysco in the 4th quarter valued at about $576,000. Finally, Blueprint Investment Partners LLC bought a new position in Sysco in the 4th quarter valued at about $246,000. 83.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SYY shares. UBS Group decreased their target price on shares of Sysco from $86.00 to $83.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Sanford C. Bernstein set a $87.00 price target on shares of Sysco and gave the company an "overweight" rating in a report on Tuesday, April 22nd. Bank of America upped their price objective on shares of Sysco from $81.00 to $93.00 and gave the company a "buy" rating in a research note on Friday. Wells Fargo & Company reduced their price objective on shares of Sysco from $87.00 to $80.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Finally, JPMorgan Chase & Co. boosted 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. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Sysco has a consensus rating of "Moderate Buy" and an average price target of $83.23.

Sysco Stock Up 1.9%

Shares of NYSE SYY traded up $1.49 during trading on Tuesday, hitting $80.21. The stock had a trading volume of 2,428,011 shares, compared to its average volume of 3,247,958. Sysco Corporation 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 6.37, a current ratio of 1.26 and a quick ratio of 0.76. The company has a market capitalization of $38.88 billion, a PE ratio of 18.01, a PEG ratio of 2.35 and a beta of 0.81. The firm has a fifty day moving average of $74.58 and a two-hundred day moving average of $73.28.

Sysco (NYSE:SYY - Get Free Report) last posted its 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 return on equity of 107.96% and a net margin of 2.36%. The firm had revenue of $19.60 billion during the quarter, compared to the consensus estimate of $20.11 billion. During the same quarter in the previous year, the company earned $0.96 EPS. The business's revenue was up 1.1% compared to the same quarter last year. As a group, equities research analysts forecast that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be paid a $0.54 dividend. This is a positive change from Sysco's previous quarterly dividend of $0.51. The ex-dividend date is Thursday, July 3rd. This represents a $2.16 annualized dividend and a dividend yield of 2.69%. Sysco's dividend payout ratio is presently 55.96%.

Insider Activity

In related news, Director Sheila Talton sold 356 shares of the 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.54% of the stock is currently owned by insiders.

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.