Simon Quick Advisors LLC Cuts Stake in Sysco Co. (NYSE:SYY)

Simon Quick Advisors LLC reduced its holdings in shares of Sysco Co. (NYSE:SYY) by 19.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,052 shares of the company’s stock after selling 1,003 shares during the period. Simon Quick Advisors LLC’s holdings in Sysco were worth $304,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Rialto Wealth Management LLC grew its holdings in Sysco by 188.7% during the 1st quarter. Rialto Wealth Management LLC now owns 332 shares of the company’s stock worth $25,000 after acquiring an additional 217 shares in the last quarter. Parvin Asset Management LLC acquired a new position in Sysco during the 4th quarter worth approximately $29,000. Stonebridge Financial Group LLC acquired a new position in Sysco during the 4th quarter worth approximately $31,000. Sherman Asset Management Inc. acquired a new position in Sysco during the 4th quarter worth approximately $31,000. Finally, Flagship Wealth Advisors LLC acquired a new position in Sysco during the 4th quarter worth approximately $31,000. 83.41% of the stock is owned by hedge funds and other institutional investors.

Sysco Stock Down 1.5%

Shares of Sysco stock opened at $74.24 on Friday. The company has a market cap of $35.99 billion, a P/E ratio of 19.09, a PEG ratio of 1.88 and a beta of 0.81. The company has a debt-to-equity ratio of 5.66, a quick ratio of 0.68 and a current ratio of 1.20. Sysco Co. has a one year low of $67.12 and a one year high of $82.23. The firm has a fifty day moving average of $71.98 and a two-hundred day moving average of $73.67.

Sysco (NYSE:SYY) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.96 EPS 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 return on equity of 106.30% and a net margin of 2.40%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.96 EPS. On average, analysts forecast that Sysco Co. will post 4.58 earnings per share for the current year.

Sysco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.54 per share. The ex-dividend date is Thursday, July 3rd. This represents a $2.16 dividend on an annualized basis and a yield of 2.91%. This is an increase from Sysco’s previous quarterly dividend of $0.51. Sysco’s dividend payout ratio is presently 55.96%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SYY. Barclays lowered their target price on shares of Sysco from $87.00 to $77.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. Wall Street Zen cut shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. Citigroup began coverage on shares of Sysco in a report on Thursday, May 22nd. They issued a “neutral” rating and a $78.00 target price for the company. Wells Fargo & Company lowered their target price on shares of Sysco from $87.00 to $80.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. Finally, Sanford C. Bernstein set a $87.00 target price on shares of Sysco and gave the company an “overweight” rating in a report on Tuesday, April 22nd. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $83.00.

Insiders Place Their Bets

In other news, Director Sheila Talton sold 356 shares of the stock in a transaction dated 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 in the company, valued at $902,359.92. This trade represents a 2.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.