Advisor Resource Council Takes Position in Sysco Corporation (NYSE:SYY)

Advisor Resource Council purchased a new stake in shares of Sysco Corporation (NYSE:SYY) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 3,312 shares of the company’s stock, valued at approximately $240,000.

A number of other hedge funds have also bought and sold shares of the business. Rialto Wealth Management LLC lifted 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 buying an additional 217 shares in the last quarter. Parvin Asset Management LLC purchased a new stake in Sysco during the fourth quarter worth $29,000. Flagship Wealth Advisors LLC purchased a new position in shares of Sysco in the 4th quarter worth approximately $31,000. Sherman Asset Management Inc. purchased a new stake in Sysco in the fourth quarter valued at about $31,000. Finally, SRS Capital Advisors Inc. raised its position in Sysco by 53.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after buying an additional 149 shares during the last quarter. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Sysco Price Performance

Shares of SYY opened at $75.97 on Tuesday. The stock has a fifty day moving average price of $72.49 and a 200 day moving average price of $73.45. The company has a market cap of $36.83 billion, a P/E ratio of 19.68, a PEG ratio of 2.42 and a beta of 0.81. The company has a debt-to-equity ratio of 6.37, a current ratio of 1.26 and a quick ratio of 0.76. Sysco Corporation has a 12 month low of $67.12 and a 12 month high of $82.23.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.06). The business had revenue of $19.60 billion for the quarter, compared to the consensus estimate of $20.11 billion. Sysco had a return on equity of 107.96% and a net margin of 2.36%. The company’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.96 earnings per share. On average, research analysts forecast that Sysco Corporation will post 4.58 earnings per share for the current year.

Sysco Increases Dividend

The firm 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 represents a $2.16 annualized dividend and a yield of 2.84%. 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 presently 52.85%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Wall Street Zen downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. 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 note on Wednesday, April 30th. Barclays lowered their price objective on Sysco from $87.00 to $77.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. JPMorgan Chase & Co. upped their target price on Sysco from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, May 20th. Finally, Sanford C. Bernstein set a $87.00 price objective on shares of Sysco and gave the company an “overweight” rating in a research note on Tuesday, April 22nd. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $83.00.

Insider Transactions at Sysco

In other news, Director Sheila Talton sold 356 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $70.84, for a total value of $25,219.04. Following the completion of the transaction, 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 filing with the SEC, which is accessible through the SEC website. 0.54% of the stock is 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.