Sysco Co. (NYSE:SYY) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its position in Sysco Co. (NYSE:SYY - Free Report) by 34.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 218,578 shares of the company's stock after buying an additional 56,419 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Sysco were worth $16,712,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in Sysco by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 61,519,424 shares of the company's stock worth $4,703,775,000 after acquiring an additional 429,711 shares during the period. Invesco Ltd. increased its holdings in Sysco by 5.3% in the 4th quarter. Invesco Ltd. now owns 16,907,541 shares of the company's stock valued at $1,292,751,000 after purchasing an additional 851,441 shares during the last quarter. Boston Partners raised its position in 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 purchasing an additional 7,184,754 shares during the period. Geode Capital Management LLC lifted its stake in Sysco by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 11,868,965 shares of the company's stock worth $905,120,000 after purchasing an additional 233,885 shares in the last quarter. Finally, Capital Research Global Investors boosted its position 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 during the period. Institutional investors and hedge funds own 83.41% of the company's stock.

Sysco Stock Performance

NYSE:SYY traded down $0.21 during trading hours on Wednesday, reaching $73.42. 786,799 shares of the company's stock were exchanged, compared to its average volume of 3,321,823. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. The firm has a market capitalization of $35.59 billion, a price-to-earnings ratio of 18.87, a P/E/G ratio of 1.88 and a beta of 0.80. Sysco Co. has a 1-year low of $67.12 and a 1-year high of $82.23. The company has a 50-day moving average of $71.73 and a 200 day moving average of $73.72.

Sysco (NYSE:SYY - Get Free Report) last released 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 return on equity of 106.30% and a net margin of 2.40%. The company had revenue of $19.60 billion for the quarter, compared to analysts' expectations of $20.11 billion. During the same period in the prior year, the business earned $0.96 EPS. The business's quarterly revenue was up 1.1% compared to the same quarter last year. Research analysts anticipate that Sysco Co. will post 4.58 EPS for the current year.

Sysco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.54 per share. This is a positive change from Sysco's previous quarterly dividend of $0.51. This represents a $2.16 annualized dividend and a yield of 2.94%. The ex-dividend date is Thursday, July 3rd. Sysco's dividend payout ratio is presently 55.96%.

Analysts Set New Price Targets

SYY has been the subject of a number of research reports. BMO Capital Markets dropped their price objective on shares of Sysco from $82.00 to $77.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Citigroup began coverage on Sysco in a report on Thursday, May 22nd. They issued a "neutral" rating and a $78.00 target price for the company. Sanford C. Bernstein set a $87.00 price target on Sysco and gave the stock an "overweight" rating in a report on Tuesday, April 22nd. Wall Street Zen downgraded Sysco from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 20th. Finally, Barclays lowered their price objective on Sysco from $87.00 to $77.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Four 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.com, Sysco currently has an average rating of "Moderate Buy" and an average target price of $83.00.

Insider Buying and Selling at Sysco

In related news, Director Sheila Talton sold 356 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $70.84, for a total value of $25,219.04. Following the sale, the director now directly owns 12,738 shares of the company's stock, valued at approximately $902,359.92. This represents a 2.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

Sysco 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.