Sysco Corporation (NYSE:SYY) Shares Sold by Paradiem LLC

Paradiem LLC decreased its stake in Sysco Corporation (NYSE:SYY - Free Report) by 4.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 156,345 shares of the company's stock after selling 7,633 shares during the period. Sysco accounts for 3.2% of Paradiem LLC's portfolio, making the stock its 10th largest position. Paradiem LLC's holdings in Sysco were worth $11,732,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Rialto Wealth Management LLC lifted its position in 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 purchasing an additional 217 shares during the period. Parvin Asset Management LLC bought a new stake in Sysco in the fourth quarter worth about $29,000. Flagship Wealth Advisors LLC bought a new stake in Sysco in the fourth quarter worth about $31,000. Sherman Asset Management Inc. bought a new position in shares of Sysco during the 4th quarter valued at about $31,000. Finally, SRS Capital Advisors Inc. grew its stake in shares of Sysco by 53.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock worth $33,000 after purchasing an additional 149 shares during the last quarter. 83.41% of the stock is currently owned by institutional investors.

Sysco Stock Performance

Shares of NYSE:SYY traded up $0.66 during midday trading on Monday, hitting $75.34. The company's stock had a trading volume of 913,408 shares, compared to its average volume of 3,286,039. 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 simple moving average is $72.41 and its 200 day simple moving average is $73.48. The stock has a market capitalization of $36.52 billion, a price-to-earnings ratio of 19.52, a PEG ratio of 2.42 and a beta of 0.81. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $82.23.

Sysco (NYSE:SYY - Get Free Report) last issued its quarterly 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). Sysco had a return on equity of 107.96% and a net margin of 2.36%. The business had revenue of $19.60 billion for the quarter, compared to analyst estimates of $20.11 billion. During the same quarter last year, the firm earned $0.96 earnings per share. The firm's quarterly revenue was up 1.1% compared to the same quarter last year. As a group, research analysts anticipate that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be given a $0.54 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.87%. This is an increase from Sysco's previous quarterly dividend of $0.51. Sysco's dividend payout ratio (DPR) is currently 52.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SYY shares. Sanford C. Bernstein set a $87.00 price objective on Sysco and gave the company an "overweight" rating in a research report on Tuesday, April 22nd. Wells Fargo & Company decreased their target price on shares of Sysco from $87.00 to $80.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Barclays cut their price target on shares of Sysco from $87.00 to $77.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Wall Street Zen lowered Sysco from a "strong-buy" rating to a "buy" rating in a report on Thursday, March 20th. Finally, JPMorgan Chase & Co. lifted their target price on Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a research note on Tuesday, May 20th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, Sysco presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.00.

Insider Transactions at Sysco

In other news, Director Sheila Talton sold 356 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the director now owns 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.54% of the stock is owned by insiders.

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.