Dover Advisors LLC Acquires Shares of 4,275 Sysco Co. (NYSE:SYY)

Dover Advisors LLC acquired a new stake in shares of Sysco Co. (NYSE:SYY) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,275 shares of the company’s stock, valued at approximately $321,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC purchased a new stake in shares of Sysco in the fourth quarter worth approximately $31,000. Leavell Investment Management Inc. raised its holdings in shares of Sysco by 9.7% in the fourth quarter. Leavell Investment Management Inc. now owns 5,667 shares of the company’s stock worth $433,000 after buying an additional 501 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of Sysco in the fourth quarter worth approximately $331,000. V Square Quantitative Management LLC raised its holdings in shares of Sysco by 7.2% in the fourth quarter. V Square Quantitative Management LLC now owns 7,566 shares of the company’s stock worth $578,000 after buying an additional 508 shares during the period. Finally, Asset Planning Inc purchased a new stake in shares of Sysco in the fourth quarter worth approximately $162,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SYY shares. Wells Fargo & Company reduced their price target on Sysco from $87.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. JPMorgan Chase & Co. increased their price objective on Sysco from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 20th. Wall Street Zen cut Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 20th. Sanford C. Bernstein set a $87.00 price objective on Sysco and gave the stock an “overweight” rating in a research note on Tuesday, April 22nd. Finally, BMO Capital Markets dropped their price objective on Sysco from $82.00 to $77.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $83.00.

Sysco Stock Down 1.5%

Sysco stock opened at $74.24 on Friday. The company has a debt-to-equity ratio of 5.66, a current ratio of 1.20 and a quick ratio of 0.68. The stock has a market capitalization of $35.99 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 1.88 and a beta of 0.81. Sysco Co. has a 1-year low of $67.12 and a 1-year high of $82.23. The business has a fifty day moving average price of $71.98 and a 200-day moving average price of $73.69.

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 analysts’ consensus estimates of $1.02 by ($0.06). The business had revenue of $19.60 billion during the quarter, compared to analyst estimates of $20.11 billion. Sysco had a return on equity of 106.30% and a net margin of 2.40%. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.96 EPS. Equities research analysts forecast that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be paid a $0.54 dividend. This is a positive change from Sysco’s previous quarterly dividend of $0.51. The ex-dividend date is Thursday, July 3rd. This represents a $2.16 dividend on an annualized basis and a yield of 2.91%. Sysco’s dividend payout ratio (DPR) is 55.96%.

Insider Buying and Selling

In related news, Director Sheila Talton sold 356 shares of the firm’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 completion of 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 at this link. 0.54% of the stock is currently owned by company 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.