Wimmer Associates 1 LLC Purchases 230 Shares of Sysco Co. (NYSE:SYY)

Wimmer Associates 1 LLC raised its position in Sysco Co. (NYSE:SYY) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,902 shares of the company’s stock after purchasing an additional 230 shares during the quarter. Wimmer Associates 1 LLC’s holdings in Sysco were worth $1,216,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Parvin Asset Management LLC bought a new position in Sysco in the fourth quarter valued at about $29,000. Stonebridge Financial Group LLC bought a new position in Sysco in the fourth quarter valued at about $31,000. Flagship Wealth Advisors LLC acquired a new stake in shares of Sysco in the fourth quarter valued at about $31,000. Sherman Asset Management Inc. acquired a new stake in shares of Sysco in the fourth quarter valued at about $31,000. Finally, SRS Capital Advisors Inc. increased its stake in shares of Sysco by 53.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after buying an additional 149 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SYY has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their price target on Sysco from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. UBS Group decreased their price target on Sysco from $86.00 to $83.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. Wells Fargo & Company decreased their target price on Sysco from $87.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Morgan Stanley decreased their target price on Sysco from $79.00 to $77.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 29th. Finally, Guggenheim reissued a “buy” rating and issued a $85.00 price objective on shares of Sysco in a research note on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $83.38.

Sysco Stock Down 0.0%

Shares of NYSE:SYY opened at $72.34 on Monday. The business’s 50 day moving average is $71.78 and its 200 day moving average is $74.03. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 5.66. Sysco Co. has a 12-month low of $67.12 and a 12-month high of $82.23. The stock has a market cap of $35.07 billion, a price-to-earnings ratio of 18.60, a PEG ratio of 1.88 and a beta of 0.80.

Sysco (NYSE:SYY) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.06). Sysco had a return on equity of 106.30% and a net margin of 2.40%. The business had revenue of $19.60 billion during the quarter, compared to analysts’ expectations of $20.11 billion. During the same period in the prior year, the firm posted $0.96 EPS. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, sell-side analysts forecast that Sysco Co. will post 4.58 earnings per share for the current fiscal year.

Sysco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be paid a $0.54 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This is a positive change from Sysco’s previous quarterly dividend of $0.51. This represents a $2.16 annualized dividend and a dividend yield of 2.99%. Sysco’s payout ratio is presently 55.96%.

Insider Buying and Selling at Sysco

In other Sysco news, Director Sheila Talton sold 356 shares of the business’s stock in a transaction 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 sale, the director now directly owns 12,738 shares in the company, valued at $902,359.92. The trade was a 2.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.54% of the company’s stock.

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.