Sysco Corporation (NYSE:SYY) Shares Bought by Cabot Wealth Management Inc.

Cabot Wealth Management Inc. boosted its position in shares of Sysco Corporation (NYSE:SYY) by 0.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 149,434 shares of the company’s stock after buying an additional 935 shares during the quarter. Cabot Wealth Management Inc.’s holdings in Sysco were worth $11,214,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC lifted its holdings in Sysco by 188.7% during the first quarter. Rialto Wealth Management LLC now owns 332 shares of the company’s stock valued at $25,000 after purchasing an additional 217 shares in the last quarter. Parvin Asset Management LLC purchased a new position in Sysco during the fourth quarter valued at $29,000. Flagship Wealth Advisors LLC purchased a new position in Sysco during the fourth quarter valued at $31,000. Sherman Asset Management Inc. purchased a new position in Sysco during the fourth quarter valued at $31,000. Finally, SRS Capital Advisors Inc. lifted its holdings in Sysco by 53.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 430 shares of the company’s stock valued at $33,000 after purchasing an additional 149 shares in the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Stock Performance

NYSE:SYY opened at $74.71 on Friday. The company’s 50-day moving average price is $72.41 and its 200-day moving average price is $73.59. 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 $36.21 billion, a P/E ratio of 19.35, a P/E/G ratio of 2.39 and a beta of 0.81. Sysco Corporation has a twelve month low of $67.12 and a twelve month high of $82.23.

Sysco (NYSE:SYY) last issued its earnings results on Tuesday, April 29th. The company reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.06). Sysco had a return on equity of 107.96% and a net margin of 2.36%. The firm had revenue of $19.60 billion for the quarter, compared to analysts’ expectations of $20.11 billion. During the same period last year, the firm earned $0.96 earnings per share. Sysco’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, sell-side analysts forecast 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. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.54 per share. The ex-dividend date is Thursday, July 3rd. This is an increase from Sysco’s previous quarterly dividend of $0.51. This represents a $2.16 dividend on an annualized basis and a yield of 2.89%. Sysco’s payout ratio is 52.85%.

Insiders Place Their Bets

In other Sysco news, Director Sheila Talton sold 356 shares of Sysco stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $70.84, for a total transaction of $25,219.04. Following the transaction, the director now directly owns 12,738 shares of the company’s stock, valued at $902,359.92. The trade was a 2.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.54% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SYY has been the topic of several recent analyst reports. Citigroup initiated coverage on shares of Sysco in a report on Thursday, May 22nd. They set a “neutral” rating and a $78.00 price objective on the stock. Wall Street Zen downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 20th. 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. Wells Fargo & Company decreased their price objective on shares of Sysco from $87.00 to $80.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. increased their price objective 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. According to MarketBeat, Sysco currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.00.

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.