Sysco Corporation (NYSE:SYY) Shares Sold by Paradiem LLC

Paradiem LLC lowered its position in shares of Sysco Corporation (NYSE:SYY) by 4.7% in the first quarter, Holdings Channel reports. The firm owned 156,345 shares of the company’s stock after selling 7,633 shares during the period. Sysco accounts for 3.2% of Paradiem LLC’s investment portfolio, making the stock its 10th biggest holding. Paradiem LLC’s holdings in Sysco were worth $11,732,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of 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 valued at $25,000 after buying an additional 217 shares during the period. Parvin Asset Management LLC acquired a new position in shares of Sysco in the 4th quarter valued at $29,000. Flagship Wealth Advisors LLC acquired a new position in shares of Sysco in the 4th quarter valued at $31,000. Sherman Asset Management Inc. acquired a new position in Sysco in the fourth quarter valued at about $31,000. Finally, SRS Capital Advisors Inc. grew its stake in 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 acquiring an additional 149 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Insider Transactions at Sysco

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 transaction of $25,219.04. Following the completion of the transaction, the director now directly owns 12,738 shares in the company, valued at $902,359.92. This represents a 2.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.54% of the company’s stock.

Sysco Trading Up 1.0%

NYSE:SYY opened at $74.71 on Friday. Sysco Corporation has a twelve month low of $67.12 and a twelve month high of $82.23. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 6.37. The business has a 50 day moving average price of $72.41 and a two-hundred day moving average price of $73.54. The company has a market cap of $36.21 billion, a P/E ratio of 19.35, a price-to-earnings-growth ratio of 2.42 and a beta of 0.81.

Sysco (NYSE:SYY) last announced its earnings results on Tuesday, April 29th. The company reported $0.96 EPS for the quarter, missing the consensus estimate of $1.02 by ($0.06). Sysco had a return on equity of 107.96% and a net margin of 2.36%. The business had revenue of $19.60 billion for the quarter, compared to analyst estimates of $20.11 billion. During the same quarter in the previous year, the company posted $0.96 EPS. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, analysts expect that Sysco Corporation will post 4.58 EPS for the current fiscal year.

Sysco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.89%. 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 is currently 52.85%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SYY shares. BMO Capital Markets decreased their target price on Sysco from $82.00 to $77.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. Wall Street Zen lowered Sysco from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 20th. Sanford C. Bernstein set a $87.00 price objective on Sysco and gave the company an “overweight” rating in a research report on Tuesday, April 22nd. UBS Group reduced their price target on shares of Sysco from $86.00 to $83.00 and set a “buy” rating for the company in a report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. upped 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 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 a consensus target price 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.