Bar Harbor Wealth Management Purchases 246 Shares of Sysco Co. (NYSE:SYY)

Bar Harbor Wealth Management lifted its position in Sysco Co. (NYSE:SYY) by 0.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 125,806 shares of the company’s stock after purchasing an additional 246 shares during the quarter. Bar Harbor Wealth Management’s holdings in Sysco were worth $9,440,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Rialto Wealth Management LLC grew its holdings in shares of Sysco by 188.7% in the 1st 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 in the 4th quarter worth about $29,000. Stonebridge Financial Group LLC bought a new stake in shares of Sysco in the 4th quarter worth about $31,000. Flagship Wealth Advisors LLC bought a new stake in shares of Sysco in the 4th quarter worth about $31,000. Finally, Sherman Asset Management Inc. bought a new stake in Sysco during the 4th quarter worth about $31,000. Institutional investors own 83.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SYY. Barclays decreased their price objective 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. BMO Capital Markets decreased their price objective on shares of Sysco from $82.00 to $77.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. 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. Wall Street Zen lowered shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. Finally, JPMorgan Chase & Co. increased 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. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.00.

Sysco Stock Performance

Sysco stock opened at $75.41 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. Sysco Co. has a 1 year low of $67.12 and a 1 year high of $82.23. The company has a market cap of $36.56 billion, a PE ratio of 19.39, a PEG ratio of 1.88 and a beta of 0.81. The company’s 50-day moving average is $71.85 and its two-hundred day moving average is $73.70.

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 business had revenue of $19.60 billion for the quarter, compared to analyst estimates of $20.11 billion. Sysco had a net margin of 2.40% and a return on equity of 106.30%. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.96 earnings per share. Equities analysts anticipate that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.86%. This is an increase from Sysco’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Thursday, July 3rd. Sysco’s dividend payout ratio (DPR) is currently 55.96%.

Insider Activity at Sysco

In related 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 now directly owns 12,738 shares in the company, valued at $902,359.92. This trade represents a 2.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.54% of the stock is currently owned by corporate insiders.

About Sysco

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.