Harrington Investments INC Buys 738 Shares of Sysco Co. (NYSE:SYY)

Harrington Investments INC lifted its position in shares of Sysco Co. (NYSE:SYY) by 3.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,242 shares of the company’s stock after acquiring an additional 738 shares during the period. Harrington Investments INC’s holdings in Sysco were worth $1,819,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Rialto Wealth Management LLC grew its holdings in shares of Sysco by 188.7% during the first quarter. Rialto Wealth Management LLC now owns 332 shares of the company’s stock worth $25,000 after purchasing an additional 217 shares during the last quarter. Parvin Asset Management LLC bought a new stake in shares of Sysco during the 4th quarter valued at about $29,000. Stonebridge Financial Group LLC bought a new stake in Sysco in the fourth quarter worth approximately $31,000. Sherman Asset Management Inc. bought a new stake in Sysco in the fourth quarter worth approximately $31,000. Finally, Flagship Wealth Advisors LLC acquired a new position in shares of Sysco during the 4th quarter valued at $31,000. 83.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. 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. Wall Street Zen lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. Citigroup began coverage on Sysco in a research report on Thursday, May 22nd. They issued a “neutral” rating and a $78.00 price objective on the stock. BMO Capital Markets decreased their target price on Sysco from $82.00 to $77.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Finally, Wells Fargo & Company decreased their price target on shares of Sysco from $87.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Sysco presently has an average rating of “Moderate Buy” and a consensus price target of $83.00.

Sysco Stock Up 1.1%

NYSE SYY opened at $74.56 on Friday. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 5.66. The stock’s 50 day moving average is $71.67 and its 200 day moving average is $73.71. Sysco Co. has a 12 month low of $67.12 and a 12 month high of $82.23. The stock has a market cap of $36.15 billion, a PE ratio of 19.17, a P/E/G ratio of 1.88 and a beta of 0.81.

Sysco (NYSE:SYY) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.06). Sysco had a net margin of 2.40% and a return on equity of 106.30%. The business had revenue of $19.60 billion for the quarter, compared to the consensus estimate of $20.11 billion. During the same quarter last year, the business earned $0.96 EPS. Sysco’s revenue for the quarter was up 1.1% compared to the same quarter last year. Research analysts predict that Sysco Co. will post 4.58 EPS for the current fiscal year.

Sysco Increases Dividend

The business also recently declared 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 represents a $2.16 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Thursday, July 3rd. This is an increase from Sysco’s previous quarterly dividend of $0.51. Sysco’s dividend payout ratio (DPR) is currently 55.96%.

Insider Transactions at Sysco

In other news, Director Sheila Talton sold 356 shares of the business’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 directly owns 12,738 shares of the company’s stock, valued at approximately $902,359.92. The trade was a 2.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.54% of the company’s stock.

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.