Mission Wealth Management LP Has $874,000 Holdings in Sysco Corporation (NYSE:SYY)

Mission Wealth Management LP increased its position in shares of Sysco Corporation (NYSE:SYY) by 41.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,650 shares of the company’s stock after buying an additional 3,424 shares during the period. Mission Wealth Management LP’s holdings in Sysco were worth $874,000 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 company. Rialto Wealth Management LLC raised 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 valued at $25,000 after purchasing an additional 217 shares during the period. Parvin Asset Management LLC acquired a new position in Sysco during the fourth quarter worth approximately $29,000. Flagship Wealth Advisors LLC bought a new stake in Sysco in the fourth quarter valued at approximately $31,000. Sherman Asset Management Inc. acquired a new stake in shares of Sysco in the fourth quarter valued at approximately $31,000. Finally, SRS Capital Advisors Inc. lifted its position in shares of Sysco by 53.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after buying an additional 149 shares during the last quarter. 83.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Barclays decreased their target price on Sysco from $87.00 to $77.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Citigroup started coverage on shares of Sysco in a report on Thursday, May 22nd. They issued a “neutral” rating and a $78.00 price objective on the stock. Wells Fargo & Company dropped their price objective on shares of Sysco from $87.00 to $80.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 30th. BMO Capital Markets reduced their target price on shares of Sysco from $82.00 to $77.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. increased their price target on shares of Sysco from $82.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, May 20th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $83.00.

Sysco Stock Down 0.7%

NYSE SYY opened at $74.25 on Wednesday. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 6.37. The company has a market cap of $35.99 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 2.42 and a beta of 0.81. The company has a 50 day moving average of $72.18 and a 200-day moving average of $73.63. Sysco Corporation has a 1-year low of $67.12 and a 1-year high of $82.23.

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 the consensus estimate of $1.02 by ($0.06). The company had revenue of $19.60 billion during the quarter, compared to analyst estimates of $20.11 billion. Sysco had a net margin of 2.36% and a return on equity of 107.96%. Sysco’s revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.96 earnings per share. On average, equities research analysts expect that Sysco Corporation will post 4.58 earnings per share for the current fiscal 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 dividend of $0.54 per share. This is a positive change from Sysco’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $2.16 annualized dividend and a dividend yield of 2.91%. Sysco’s dividend payout ratio (DPR) is currently 52.85%.

Insider Activity at Sysco

In other Sysco news, Director Sheila Talton sold 356 shares of the firm’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 sale, the director now owns 12,738 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. 0.54% of the stock is currently owned by 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.