Sysco Corporation (NYSE:SYY) Shares Purchased by Golden State Wealth Management LLC

Golden State Wealth Management LLC lifted its stake in Sysco Corporation (NYSE:SYY) by 48.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 429 shares of the company’s stock after purchasing an additional 140 shares during the quarter. Golden State Wealth Management LLC’s holdings in Sysco were worth $32,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Sysco by 0.7% in the fourth 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. increased its holdings in shares of Sysco by 5.3% in the fourth quarter. Invesco Ltd. now owns 16,907,541 shares of the company’s stock valued at $1,292,751,000 after purchasing an additional 851,441 shares during the last quarter. Boston Partners increased its holdings in shares of Sysco by 143.7% in the fourth quarter. Boston Partners now owns 12,184,114 shares of the company’s stock valued at $930,296,000 after purchasing an additional 7,184,754 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Sysco by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 11,868,965 shares of the company’s stock valued at $905,120,000 after purchasing an additional 233,885 shares during the last quarter. Finally, Capital Research Global Investors increased its holdings in shares of Sysco by 27.3% in the fourth quarter. Capital Research Global Investors now owns 8,991,476 shares of the company’s stock valued at $687,488,000 after purchasing an additional 1,928,002 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SYY shares. UBS Group lowered their price objective on Sysco from $86.00 to $83.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. BMO Capital Markets lowered their price objective on Sysco from $82.00 to $77.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Wall Street Zen lowered Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. Citigroup started coverage on Sysco in a research report on Thursday, May 22nd. They issued a “neutral” rating and a $78.00 price objective for the company. Finally, Barclays lowered their price objective on Sysco from $87.00 to $77.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.00.

Insider Transactions at Sysco

In related news, Director Sheila Talton sold 356 shares of Sysco 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 directly owned 12,738 shares in the company, valued at approximately $902,359.92. This trade represents a 2.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.54% of the company’s stock.

Sysco Trading Up 0.4%

NYSE:SYY opened at $77.67 on Thursday. The firm has a market cap of $37.65 billion, a PE ratio of 20.12, a price-to-earnings-growth ratio of 2.33 and a beta of 0.81. The stock has a fifty day moving average price of $73.06 and a 200 day moving average price of $73.33. Sysco Corporation has a 12-month low of $67.12 and a 12-month high of $82.23. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 6.37.

Sysco (NYSE:SYY) last released its 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 company had revenue of $19.60 billion during the quarter, compared to analysts’ expectations of $20.11 billion. Sysco had a net margin of 2.36% and a return on equity of 107.96%. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the business posted $0.96 earnings per share. Sell-side analysts anticipate 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. Investors of record on Thursday, July 3rd will be issued 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 dividend on an annualized basis and a yield of 2.78%. Sysco’s dividend payout ratio (DPR) is 52.85%.

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.