L.M. Kohn & Company Increases Stake in Sysco Corporation (NYSE:SYY)

L.M. Kohn & Company raised its position in shares of Sysco Corporation (NYSE:SYY) by 2.4% in the first quarter, Holdings Channel reports. The firm owned 7,929 shares of the company’s stock after acquiring an additional 188 shares during the quarter. L.M. Kohn & Company’s holdings in Sysco were worth $595,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of SYY. Vanguard Group Inc. boosted its stake in Sysco by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 61,519,424 shares of the company’s stock valued at $4,703,775,000 after purchasing an additional 429,711 shares during the last quarter. Invesco Ltd. boosted its position in shares of Sysco by 5.3% during the fourth quarter. Invesco Ltd. now owns 16,907,541 shares of the company’s stock valued at $1,292,751,000 after buying an additional 851,441 shares during the last quarter. Boston Partners increased its holdings in Sysco by 143.7% in the 4th quarter. Boston Partners now owns 12,184,114 shares of the company’s stock worth $930,296,000 after buying an additional 7,184,754 shares in the last quarter. Geode Capital Management LLC lifted its stake in Sysco by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 11,868,965 shares of the company’s stock valued at $905,120,000 after acquiring an additional 233,885 shares during the period. Finally, Capital Research Global Investors lifted its holdings in shares of Sysco by 27.3% during the 4th quarter. Capital Research Global Investors now owns 8,991,476 shares of the company’s stock valued at $687,488,000 after buying an additional 1,928,002 shares during the period. 83.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on SYY shares. Citigroup began coverage on Sysco in a research report on Thursday, May 22nd. They set a “neutral” rating and a $78.00 price objective for the company. Wall Street Zen downgraded Sysco from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 20th. Barclays dropped 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. Wells Fargo & Company decreased their price target 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. Finally, UBS Group dropped their price target on shares of Sysco from $86.00 to $83.00 and set a “buy” rating on the stock in a research note on Wednesday, April 30th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Sysco currently has a consensus rating of “Moderate Buy” and an average target price of $83.00.

Insider Buying and Selling

In other news, Director Sheila Talton sold 356 shares of the business’s 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 sale, the director now directly owns 12,738 shares in the company, valued at $902,359.92. The trade was a 2.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.54% of the stock is owned by company insiders.

Sysco Trading Down 0.4%

Shares of Sysco stock opened at $73.97 on Friday. The company has a debt-to-equity ratio of 6.37, a quick ratio of 0.76 and a current ratio of 1.26. The company has a fifty day moving average of $72.32 and a 200 day moving average of $73.62. The company has a market capitalization of $35.86 billion, a P/E ratio of 19.16, a P/E/G ratio of 2.39 and a beta of 0.81. Sysco Corporation has a fifty-two week low of $67.12 and a fifty-two week 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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.06). Sysco had a net margin of 2.36% and a return on equity of 107.96%. The company had revenue of $19.60 billion for the quarter, compared to analysts’ expectations of $20.11 billion. During the same period last year, the business earned $0.96 earnings per share. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 2.92%. This is a boost from Sysco’s previous quarterly dividend of $0.51. The ex-dividend date is Thursday, July 3rd. Sysco’s payout ratio is 52.85%.

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.