Tolleson Wealth Management Inc. Acquires 1,715 Shares of Sysco Co. (NYSE:SYY)

Tolleson Wealth Management Inc. raised its holdings in Sysco Co. (NYSE:SYY) by 21.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,623 shares of the company’s stock after purchasing an additional 1,715 shares during the quarter. Tolleson Wealth Management Inc.’s holdings in Sysco were worth $736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Parvin Asset Management LLC bought a new position in shares of Sysco during the 4th quarter worth $29,000. Stonebridge Financial Group LLC bought a new position in shares of Sysco during the 4th quarter worth $31,000. Sherman Asset Management Inc. bought a new position in shares of Sysco during the 4th quarter worth $31,000. Flagship Wealth Advisors LLC bought a new position in shares of Sysco during the 4th quarter worth $31,000. Finally, SRS Capital Advisors Inc. grew its stake in shares of Sysco by 53.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock worth $33,000 after acquiring an additional 149 shares during the period. Institutional investors own 83.41% of the company’s stock.

Sysco Stock Performance

Shares of NYSE SYY opened at $72.34 on Friday. The stock has a market cap of $35.07 billion, a price-to-earnings ratio of 18.60, a P/E/G 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 1-year low of $67.12 and a 1-year high of $82.23. The stock’s 50-day moving average is $71.78 and its 200 day moving average is $74.04.

Sysco (NYSE:SYY) last announced 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 firm had revenue of $19.60 billion for the quarter, compared to analysts’ expectations of $20.11 billion. Sysco had a net margin of 2.40% and a return on equity of 106.30%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.96 earnings per share. On average, sell-side analysts anticipate that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.99%. This is a boost from Sysco’s previous quarterly dividend of $0.51. The ex-dividend date is Thursday, July 3rd. Sysco’s dividend payout ratio (DPR) is currently 55.96%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on SYY shares. StockNews.com cut Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. Guggenheim reissued a “buy” rating and set a $85.00 price objective on shares of Sysco in a report on Wednesday, January 29th. UBS Group dropped their price objective on Sysco from $86.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. JPMorgan Chase & Co. dropped their price objective on Sysco from $86.00 to $82.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Finally, Barclays dropped their price objective on Sysco from $87.00 to $77.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.38.

Insiders Place Their Bets

In other Sysco news, Director Sheila Talton sold 356 shares of Sysco stock in a transaction that occurred 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 transaction, the director now directly owns 12,738 shares of the company’s stock, valued at $902,359.92. The trade was a 2.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.54% of the company’s stock.

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.