Hennion & Walsh Asset Management Inc. Increases Holdings in Sysco Co. (NYSE:SYY)

Hennion & Walsh Asset Management Inc. lifted its position in Sysco Co. (NYSE:SYY) by 1.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 66,461 shares of the company’s stock after purchasing an additional 1,067 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Sysco were worth $4,987,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Rialto Wealth Management LLC boosted its holdings in shares of Sysco by 188.7% in 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 during the period. Parvin Asset Management LLC purchased a new stake in shares of Sysco in the fourth quarter valued at approximately $29,000. Stonebridge Financial Group LLC purchased a new stake in shares of Sysco in the fourth quarter valued at approximately $31,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Sysco in the fourth quarter valued at approximately $31,000. Finally, Sherman Asset Management Inc. purchased a new stake in shares of Sysco in the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on Sysco from $82.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, May 20th. BMO Capital Markets lowered their target price on Sysco from $82.00 to $77.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Barclays lowered their target price on Sysco from $87.00 to $77.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. Wall Street Zen lowered Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. Finally, Sanford C. Bernstein set a $87.00 target price on Sysco and gave the stock an “overweight” rating in a report on Tuesday, April 22nd. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.00.

Sysco Stock Performance

Shares of SYY stock opened at $73.66 on Wednesday. The business’s fifty day simple moving average is $71.73 and its 200-day simple moving average is $73.72. The company has a market cap of $35.71 billion, a PE ratio of 18.94, a PEG ratio of 1.88 and a beta of 0.80. The company has a current ratio of 1.20, a quick ratio of 0.68 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.

Sysco (NYSE:SYY) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.96 earnings per share (EPS) 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 analyst estimates of $20.11 billion. Sysco had a return on equity of 106.30% and a net margin of 2.40%. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.96 earnings per share. Analysts expect 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. 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 2.93%. 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.

About Sysco

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.