Isthmus Partners LLC Buys 3,429 Shares of Sysco Corporation (NYSE:SYY)

Isthmus Partners LLC boosted its position in Sysco Corporation (NYSE:SYY - Free Report) by 2.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 159,761 shares of the company's stock after purchasing an additional 3,429 shares during the period. Sysco comprises approximately 1.5% of Isthmus Partners LLC's portfolio, making the stock its 28th biggest holding. Isthmus Partners LLC's holdings in Sysco were worth $11,988,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Rialto Wealth Management LLC lifted its stake in Sysco by 188.7% in the first quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock valued at $25,000 after purchasing an additional 217 shares during the last quarter. Parvin Asset Management LLC purchased a new stake in shares of Sysco during the fourth quarter worth $29,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Sysco during the fourth quarter worth $31,000. Golden State Wealth Management LLC lifted its position in shares of Sysco by 48.4% during 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 in the last quarter. Finally, Capital A Wealth Management LLC purchased a new stake in shares of Sysco during the fourth quarter worth $34,000. Hedge funds and other institutional investors own 83.41% of the company's stock.

Insider Buying and Selling

In other news, Director Sheila Talton sold 356 shares of the firm's 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Wall Street Zen downgraded Sysco from a "buy" rating to a "hold" rating in a research report on Sunday. Citigroup assumed coverage on Sysco in a research report on Thursday, May 22nd. They set a "neutral" rating and a $78.00 target price on the stock. Guggenheim restated a "buy" rating and set a $82.00 target price on shares of Sysco in a research report on Tuesday, July 8th. BMO Capital Markets dropped their target price on Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company dropped their target price on Sysco from $87.00 to $80.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Sysco has a consensus rating of "Moderate Buy" and a consensus target price of $82.77.

Sysco Price Performance

SYY traded down $0.66 during trading on Friday, reaching $76.80. The stock had a trading volume of 3,049,106 shares, compared to its average volume of 3,242,861. The stock has a market cap of $37.23 billion, a PE ratio of 19.90, a PEG ratio of 2.32 and a beta of 0.81. The company has a debt-to-equity ratio of 6.37, a quick ratio of 0.76 and a current ratio of 1.26. Sysco Corporation has a one year low of $67.12 and a one year high of $82.23. The business has a 50-day moving average of $73.90 and a 200-day moving average of $73.27.

Sysco (NYSE:SYY - Get Free Report) last released its earnings results 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 2.36% and a return on equity of 107.96%. The firm's revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.96 EPS. As a group, equities research analysts anticipate 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. Investors of record on Thursday, July 3rd will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Thursday, July 3rd. This is a boost from Sysco's previous quarterly dividend of $0.51. Sysco's dividend payout ratio is currently 55.96%.

About Sysco

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.