Sysco Corporation (NYSE:SYY) Shares Sold by Larson Financial Group LLC

Larson Financial Group LLC lessened its position in Sysco Corporation (NYSE:SYY - Free Report) by 69.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,584 shares of the company's stock after selling 3,643 shares during the quarter. Larson Financial Group LLC's holdings in Sysco were worth $119,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SYY. Rialto Wealth Management LLC boosted its holdings in shares of Sysco by 188.7% in the 1st quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock valued at $25,000 after acquiring an additional 217 shares during the last quarter. Parvin Asset Management LLC acquired a new position in shares of Sysco in the 4th quarter valued at $29,000. Golden State Wealth Management LLC increased its stake in Sysco by 48.4% in the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock valued at $32,000 after buying an additional 140 shares during the period. Capital A Wealth Management LLC purchased a new stake in shares of Sysco in the 4th quarter worth about $34,000. Finally, Ameriflex Group Inc. acquired a new position in shares of Sysco during the 4th quarter valued at about $35,000. Institutional investors own 83.41% of the company's stock.

Insider Transactions at Sysco

In other news, Director Sheila Talton sold 356 shares of the business's 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 sale, the director owned 12,738 shares of the company's stock, valued at $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 is available at this link. 0.54% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SYY shares. Guggenheim reissued a "buy" rating and set a $82.00 price target on shares of Sysco in a report on Tuesday, July 8th. Morgan Stanley raised their price objective on Sysco from $72.00 to $77.00 and gave the stock an "equal weight" rating in a research report on Monday, July 14th. BMO Capital Markets decreased their price objective on Sysco from $82.00 to $77.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. UBS Group reduced their price target on Sysco from $86.00 to $83.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Finally, Bank of America lifted their price target on Sysco from $81.00 to $93.00 and gave the company a "buy" rating in a report on Friday. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Sysco has an average rating of "Moderate Buy" and an average target price of $83.23.

Sysco Price Performance

Shares of SYY traded up $0.31 during midday trading on Monday, hitting $78.72. 2,305,868 shares of the company traded hands, compared to its average volume of 3,247,449. The firm has a 50 day moving average of $74.58 and a 200-day moving average of $73.28. 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 has a market cap of $38.16 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 2.36 and a beta of 0.81. Sysco Corporation has a 52 week low of $67.12 and a 52 week high of $82.23.

Sysco (NYSE:SYY - Get Free Report) last issued 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 company had revenue of $19.60 billion for the quarter, compared to analysts' expectations of $20.11 billion. Sysco had a return on equity of 107.96% and a net margin of 2.36%. The business's revenue was up 1.1% compared to the same quarter last year. During the same period last year, the business posted $0.96 earnings per share. On average, analysts forecast that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This is an increase from Sysco's previous quarterly dividend of $0.51. This represents a $2.16 dividend on an annualized basis and a yield of 2.74%. Sysco's payout ratio is currently 55.96%.

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.