Wealth Enhancement Advisory Services LLC Has $16.77 Million Stake in Sysco Corporation (NYSE:SYY)

Wealth Enhancement Advisory Services LLC boosted its position in shares of Sysco Corporation (NYSE:SYY - Free Report) by 2.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 223,510 shares of the company's stock after purchasing an additional 4,932 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Sysco were worth $16,772,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SYY. Boston Partners boosted its holdings in shares of Sysco by 143.7% in the fourth quarter. Boston Partners now owns 12,184,114 shares of the company's stock valued at $930,296,000 after buying an additional 7,184,754 shares during the period. Norges Bank bought a new position in shares of Sysco in the fourth quarter valued at about $450,441,000. Capital Research Global Investors lifted its holdings in shares of Sysco by 27.3% during the fourth quarter. Capital Research Global Investors now owns 8,991,476 shares of the company's stock worth $687,488,000 after buying an additional 1,928,002 shares in the last quarter. Mondrian Investment Partners LTD bought a new position in Sysco during the fourth quarter worth about $123,928,000. Finally, Raymond James Financial Inc. bought a new position in Sysco during the fourth quarter worth about $97,078,000. Institutional investors and hedge funds own 83.41% of the company's stock.

Insider Buying and Selling

In related news, Director Sheila Talton sold 356 shares of the company'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 value of $25,219.04. Following the transaction, the director now directly owns 12,738 shares in the company, valued at approximately $902,359.92. This represents 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 accessible through the SEC website. 0.54% of the stock is owned by company insiders.

Sysco Price Performance

Shares of NYSE:SYY opened at $74.71 on Monday. The company's 50-day moving average is $72.41 and its 200 day moving average is $73.48. 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 company has a market capitalization of $36.21 billion, a P/E ratio of 19.35, a price-to-earnings-growth 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 released its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.06). Sysco had a net margin of 2.36% and a return on equity of 107.96%. The business had revenue of $19.60 billion for the quarter, compared to analysts' expectations of $20.11 billion. During the same period last year, the company earned $0.96 earnings per share. Sysco's revenue for the quarter was up 1.1% compared to the same quarter last year. On average, equities research analysts forecast that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.54 per share. The ex-dividend date is Thursday, July 3rd. This is a boost from Sysco's previous quarterly dividend of $0.51. This represents a $2.16 annualized dividend and a dividend yield of 2.89%. Sysco's dividend payout ratio is currently 52.85%.

Analysts Set New Price Targets

Several research firms have commented on SYY. Sanford C. Bernstein set a $87.00 target price on shares of Sysco and gave the company an "overweight" rating in a report on Tuesday, April 22nd. Wells Fargo & Company dropped their price target on shares of Sysco from $87.00 to $80.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. BMO Capital Markets dropped their price target on shares of Sysco from $82.00 to $77.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. JPMorgan Chase & Co. lifted their price objective on shares of Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a research note on Tuesday, May 20th. Finally, Barclays decreased their price target on shares of Sysco from $87.00 to $77.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $83.00.

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.

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