Western Pacific Wealth Management LP Buys 4,075 Shares of Sysco Co. (NYSE:SYY)

Western Pacific Wealth Management LP increased its stake in Sysco Co. (NYSE:SYY - Free Report) by 234.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,810 shares of the company's stock after buying an additional 4,075 shares during the period. Western Pacific Wealth Management LP's holdings in Sysco were worth $436,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rialto Wealth Management LLC increased its stake in shares of Sysco by 188.7% during the first quarter. Rialto Wealth Management LLC now owns 332 shares of the company's stock valued at $25,000 after purchasing an additional 217 shares in the last quarter. Parvin Asset Management LLC bought a new position in shares of Sysco during the fourth quarter valued at approximately $29,000. Flagship Wealth Advisors LLC bought a new position in shares of Sysco during the fourth quarter valued at approximately $31,000. Sherman Asset Management Inc. bought a new position in shares of Sysco during the fourth quarter valued at approximately $31,000. Finally, SRS Capital Advisors Inc. increased its stake in shares of Sysco by 53.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company's stock valued at $33,000 after purchasing an additional 149 shares in the last quarter. Institutional investors own 83.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wall Street Zen downgraded shares of Sysco from a "strong-buy" rating to a "buy" rating in a research note on Thursday, March 20th. Citigroup began coverage on shares of Sysco in a research report on Thursday, May 22nd. They set a "neutral" rating and a $78.00 price target for the company. Wells Fargo & Company reduced their price target on shares of Sysco from $87.00 to $80.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. UBS Group reduced their price target on shares of Sysco from $86.00 to $83.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. raised their price target on shares of Sysco from $82.00 to $85.00 and gave the company an "overweight" rating in a research report on Tuesday, May 20th. Four equities research 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, the stock has an average rating of "Moderate Buy" and a consensus price target of $83.00.

Insider Transactions at Sysco

In other news, Director Sheila Talton sold 356 shares of Sysco stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $70.84, for a total transaction of $25,219.04. Following the transaction, the director now owns 12,738 shares in the company, valued at $902,359.92. This trade represents a 2.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.54% of the company's stock.

Sysco Trading Down 1.5%

Shares of SYY stock opened at $74.24 on Monday. Sysco Co. has a 12-month low of $67.12 and a 12-month high of $82.23. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The firm's 50 day moving average is $71.98 and its 200 day moving average is $73.64. The stock has a market capitalization of $35.99 billion, a P/E ratio of 19.09, a P/E/G ratio of 1.88 and a beta of 0.81.

Sysco (NYSE:SYY - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.02 by ($0.06). The company had revenue of $19.60 billion during the quarter, compared to analysts' expectations of $20.11 billion. Sysco had a return on equity of 106.30% and a net margin of 2.40%. The company's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.96 EPS. Research analysts expect that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend is Thursday, July 3rd. This is a boost from Sysco's previous quarterly dividend of $0.51. Sysco's dividend payout ratio (DPR) 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.

Want to see what other hedge funds are holding SYY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sysco Co. (NYSE:SYY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.