Sysco Corporation (NYSE:SYY) Stake Raised by Wealthfront Advisers LLC

Wealthfront Advisers LLC raised its holdings in Sysco Corporation (NYSE:SYY - Free Report) by 6.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 66,913 shares of the company's stock after purchasing an additional 3,780 shares during the period. Wealthfront Advisers LLC's holdings in Sysco were worth $5,021,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Rialto Wealth Management LLC raised its position in shares of Sysco by 188.7% during 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 in the last quarter. Parvin Asset Management LLC acquired a new stake in shares of Sysco during the 4th quarter valued at approximately $29,000. Golden State Wealth Management LLC raised its position in shares of Sysco by 48.4% during the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company's stock valued at $32,000 after acquiring an additional 140 shares in the last quarter. Capital A Wealth Management LLC acquired a new stake in shares of Sysco during the 4th quarter valued at approximately $34,000. Finally, Ameriflex Group Inc. acquired a new stake in shares of Sysco during the 4th quarter valued at approximately $35,000. 83.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SYY has been the topic of several research reports. Wall Street Zen lowered Sysco from a "buy" rating to a "hold" rating in a research report on Sunday, July 13th. Guggenheim reissued a "buy" rating and set a $82.00 price target on shares of Sysco in a research report on Tuesday, July 8th. Wells Fargo & Company lowered their price objective on Sysco from $87.00 to $80.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Bank of America upped their price objective on Sysco from $81.00 to $93.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Morgan Stanley upped their price objective on Sysco from $72.00 to $77.00 and gave the stock an "equal weight" rating in a research note on Monday. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Sysco has an average rating of "Moderate Buy" and an average price target of $83.23.

Sysco Price Performance

Shares of Sysco stock traded up $0.47 during trading on Friday, hitting $78.38. The stock had a trading volume of 2,333,164 shares, compared to its average volume of 3,246,459. The company has a debt-to-equity ratio of 6.37, a current ratio of 1.26 and a quick ratio of 0.76. The firm has a market cap of $37.99 billion, a P/E ratio of 20.31, a PEG ratio of 2.35 and a beta of 0.81. The business has a fifty day moving average of $74.42 and a two-hundred day moving average of $73.31. 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 announced its earnings results 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 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 company earned $0.96 earnings per share. The company's revenue for the quarter was up 1.1% on a year-over-year basis. On average, sell-side analysts expect that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 2.76%. This is an increase from Sysco's previous quarterly dividend of $0.51. The ex-dividend date is Thursday, July 3rd. Sysco's dividend payout ratio is currently 55.96%.

Insider Activity at Sysco

In other news, Director Sheila Talton sold 356 shares of the company's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $70.84, for a total transaction of $25,219.04. Following the completion of the sale, the director directly owned 12,738 shares of the company's stock, valued at $902,359.92. This represents a 2.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.54% of the stock is currently owned by corporate insiders.

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.