Liberty One Investment Management LLC Boosts Stock Position in Sysco Corporation (NYSE:SYY)

Liberty One Investment Management LLC raised its stake in Sysco Corporation (NYSE:SYY - Free Report) by 3.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 337,297 shares of the company's stock after purchasing an additional 11,057 shares during the period. Sysco accounts for approximately 2.6% of Liberty One Investment Management LLC's investment portfolio, making the stock its 20th largest holding. Liberty One Investment Management LLC owned about 0.07% of Sysco worth $25,311,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SYY. SBI Securities Co. Ltd. acquired a new stake in Sysco in the fourth quarter worth about $54,000. Steward Partners Investment Advisory LLC boosted its holdings in Sysco by 6.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 20,411 shares of the company's stock worth $1,561,000 after acquiring an additional 1,208 shares in the last quarter. Assetmark Inc. boosted its holdings in Sysco by 38.7% in the fourth quarter. Assetmark Inc. now owns 1,706 shares of the company's stock worth $130,000 after acquiring an additional 476 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Sysco in the fourth quarter worth about $8,813,000. Finally, Larson Financial Group LLC boosted its holdings in Sysco by 134.0% in the fourth quarter. Larson Financial Group LLC now owns 5,227 shares of the company's stock worth $400,000 after acquiring an additional 2,993 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company's stock.

Wall Street Analyst Weigh In

SYY has been the subject of a number of research reports. Guggenheim reaffirmed a "buy" rating and set a $82.00 target price on shares of Sysco in a report on Tuesday. Citigroup initiated coverage on Sysco in a report on Thursday, May 22nd. They set a "neutral" rating and a $78.00 target price for the company. Barclays decreased 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. UBS Group decreased their target price on Sysco from $86.00 to $83.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Finally, Wells Fargo & Company decreased their target price on Sysco from $87.00 to $80.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, Sysco currently has an average rating of "Moderate Buy" and a consensus price target of $82.77.

Insider Activity at Sysco

In other news, Director Sheila Talton sold 356 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $70.84, for a total value of $25,219.04. Following the completion of the sale, the director directly owned 12,738 shares in the company, valued at $902,359.92. The trade was a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.54% of the stock is owned by company insiders.

Sysco Stock Performance

NYSE:SYY traded down $0.18 during trading hours on Tuesday, reaching $76.53. The company had a trading volume of 2,118,699 shares, compared to its average volume of 3,232,654. Sysco Corporation has a 1-year low of $67.12 and a 1-year high of $82.23. The firm has a market cap of $37.10 billion, a PE ratio of 19.83, a price-to-earnings-growth ratio of 2.33 and a beta of 0.81. The business's 50 day moving average price is $73.40 and its 200-day moving average price is $73.25. The company has a debt-to-equity ratio of 6.37, a current ratio of 1.26 and a quick ratio of 0.76.

Sysco (NYSE:SYY - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.02 by ($0.06). Sysco had a net margin of 2.36% and a return on equity of 107.96%. The company had revenue of $19.60 billion during the quarter, compared to analyst estimates of $20.11 billion. During the same period in the previous year, the firm posted $0.96 earnings per share. The company's revenue was up 1.1% compared to the same quarter last year. Research analysts forecast that Sysco Corporation will post 4.58 EPS for the current year.

Sysco Increases Dividend

The firm 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 $0.54 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This is a boost from Sysco's previous quarterly dividend of $0.51. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.82%. Sysco's payout ratio is 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.