Flagship Harbor Advisors LLC Decreases Position in Sysco Corporation (NYSE:SYY)

Flagship Harbor Advisors LLC trimmed its holdings in shares of Sysco Corporation (NYSE:SYY) by 5.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,277 shares of the company’s stock after selling 259 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Sysco were worth $321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Sysco by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 61,519,424 shares of the company’s stock valued at $4,703,775,000 after purchasing an additional 429,711 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Sysco by 5.3% during the fourth quarter. Invesco Ltd. now owns 16,907,541 shares of the company’s stock worth $1,292,751,000 after buying an additional 851,441 shares during the period. Boston Partners grew its holdings in shares of Sysco by 143.7% during the fourth quarter. Boston Partners now owns 12,184,114 shares of the company’s stock valued at $930,296,000 after buying an additional 7,184,754 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Sysco by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 11,868,965 shares of the company’s stock valued at $905,120,000 after acquiring an additional 233,885 shares during the period. Finally, Capital Research Global Investors raised its stake in Sysco by 27.3% in the 4th quarter. Capital Research Global Investors now owns 8,991,476 shares of the company’s stock worth $687,488,000 after acquiring an additional 1,928,002 shares during the last quarter. 83.41% of the stock is owned by institutional investors and hedge funds.

Sysco Trading Down 1.0%

Shares of SYY opened at $75.13 on Thursday. The firm’s fifty day moving average is $72.67 and its two-hundred day moving average is $73.48. The stock has a market cap of $36.42 billion, a PE ratio of 19.46, a price-to-earnings-growth ratio of 2.46 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 Corporation has a 52-week low of $67.12 and a 52-week high of $82.23.

Sysco (NYSE:SYY) last released 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). Sysco had a return on equity of 107.96% and a net margin of 2.36%. The company had revenue of $19.60 billion for the quarter, compared to analyst estimates of $20.11 billion. During the same period last year, the firm posted $0.96 EPS. The business’s quarterly revenue was up 1.1% on a year-over-year basis. Research analysts forecast that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Increases Dividend

The business 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 dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 2.88%. The ex-dividend date is Thursday, July 3rd. This is a positive change from Sysco’s previous quarterly dividend of $0.51. Sysco’s dividend payout ratio (DPR) is 52.85%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on SYY shares. Sanford C. Bernstein set a $87.00 price objective on Sysco and gave the company an “overweight” rating in a report on Tuesday, April 22nd. Wall Street Zen downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. Citigroup started coverage on shares of Sysco in a research note on Thursday, May 22nd. They set a “neutral” rating and a $78.00 price objective for the company. Wells Fargo & Company dropped their price objective on shares of Sysco from $87.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Finally, UBS Group decreased their target price on shares of Sysco from $86.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.00.

Insider Activity at Sysco

In other Sysco news, Director Sheila Talton sold 356 shares of the firm’s 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 completion of the transaction, the director now owns 12,738 shares of the company’s stock, valued at $902,359.92. This trade represents a 2.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.54% of the stock is owned by insiders.

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.