Envestnet Asset Management Inc. Has $104.97 Million Holdings in Sysco Corporation (NYSE:SYY)

Envestnet Asset Management Inc. lowered its stake in Sysco Corporation (NYSE:SYY - Free Report) by 5.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,398,865 shares of the company's stock after selling 87,925 shares during the period. Envestnet Asset Management Inc. owned approximately 0.29% of Sysco worth $104,971,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rialto Wealth Management LLC lifted its position in shares of Sysco by 188.7% in the first quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock worth $25,000 after buying an additional 217 shares during the last quarter. Parvin Asset Management LLC bought a new position in shares of Sysco in the fourth quarter worth about $29,000. Flagship Wealth Advisors LLC bought a new position in shares of Sysco in the fourth quarter worth about $31,000. Golden State Wealth Management LLC increased 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 purchasing an additional 140 shares during the period. Finally, Capital A Wealth Management LLC bought a new position in shares of Sysco in the fourth quarter worth about $34,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on SYY shares. Citigroup started coverage on Sysco in a research note on Thursday, May 22nd. They issued a "neutral" rating and a $78.00 price objective on the stock. BMO Capital Markets dropped their price objective on Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Barclays dropped their price objective on Sysco from $87.00 to $77.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. JPMorgan Chase & Co. lifted their price objective on Sysco from $82.00 to $85.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 20th. Finally, Sanford C. Bernstein set a $87.00 price target on Sysco and gave the company an "overweight" rating in a research note on Tuesday, April 22nd. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $82.77.

Sysco Price Performance

NYSE SYY traded down $0.66 during trading on Friday, reaching $76.80. 3,049,106 shares of the company traded hands, compared to its average volume of 3,237,308. The company has a debt-to-equity ratio of 6.37, a quick ratio of 0.76 and a current ratio of 1.26. The stock's 50 day moving average price is $73.90 and its two-hundred day moving average price is $73.30. The company has a market cap of $37.23 billion, a price-to-earnings ratio of 19.90, a P/E/G ratio of 2.33 and a beta of 0.81. Sysco Corporation has a 1-year low of $67.12 and a 1-year high of $82.23.

Sysco (NYSE:SYY - Get Free Report) last released its quarterly earnings data 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 company had revenue of $19.60 billion for the quarter, compared to analyst estimates of $20.11 billion. Sysco had a net margin of 2.36% and a return on equity of 107.96%. The firm's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.96 earnings per share. As a group, analysts anticipate that Sysco Corporation 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. Shareholders 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 yield of 2.81%. This is an increase from Sysco's previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Thursday, July 3rd. Sysco's payout ratio is presently 55.96%.

Insiders Place Their Bets

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

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.