Sysco Corporation (NYSE:SYY) Shares Purchased by Ballentine Partners LLC

Ballentine Partners LLC raised its position in Sysco Corporation (NYSE:SYY) by 10.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,169 shares of the company’s stock after purchasing an additional 1,219 shares during the quarter. Ballentine Partners LLC’s holdings in Sysco were worth $988,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of SYY. Rialto Wealth Management LLC boosted its holdings in Sysco by 188.7% in the 1st 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 last quarter. Parvin Asset Management LLC acquired a new position in Sysco in the 4th quarter valued at about $29,000. Flagship Wealth Advisors LLC acquired a new position in Sysco in the 4th quarter valued at about $31,000. Golden State Wealth Management LLC boosted its holdings in Sysco by 48.4% in the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company’s stock valued at $32,000 after purchasing an additional 140 shares during the last quarter. Finally, Capital A Wealth Management LLC acquired a new position in Sysco in the 4th quarter valued at about $34,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Sysco

In other Sysco news, Director Sheila Talton sold 356 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $70.84, for a total value of $25,219.04. Following the sale, the director directly owned 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 document filed with the SEC, which is available at this link. Corporate insiders own 0.54% of the company’s stock.

Sysco Price Performance

Shares of SYY opened at $76.80 on Monday. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week high of $82.23. The firm’s 50 day moving average price is $73.90 and its 200 day moving average price is $73.24. The company has a market cap of $37.23 billion, a P/E ratio of 19.90, a PEG ratio of 2.32 and a beta of 0.81. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 6.37.

Sysco (NYSE:SYY) last announced its earnings results 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 107.96% and a net margin of 2.36%. The business had revenue of $19.60 billion for the quarter, compared to analysts’ expectations of $20.11 billion. During the same period in the previous year, the company earned $0.96 earnings per share. Sysco’s quarterly revenue was up 1.1% on a year-over-year basis. On average, research analysts forecast that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be given a $0.54 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This is an increase from Sysco’s previous quarterly dividend of $0.51. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.81%. Sysco’s dividend payout ratio is currently 55.96%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on SYY shares. Barclays decreased their target price on shares of Sysco from $87.00 to $77.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Guggenheim restated a “buy” rating and issued a $82.00 price objective on shares of Sysco in a report on Tuesday, July 8th. JPMorgan Chase & Co. upped their price objective on shares of Sysco from $82.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, May 20th. Wall Street Zen lowered shares of Sysco from a “buy” rating to a “hold” rating in a report on Sunday. Finally, UBS Group decreased their price objective on shares of Sysco from $86.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $82.77.

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.