Patron Partners LLC Purchases 1,185 Shares of Sysco Corporation (NYSE:SYY)

Patron Partners LLC lifted its stake in Sysco Corporation (NYSE:SYY) by 10.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,594 shares of the company’s stock after acquiring an additional 1,185 shares during the quarter. Patron Partners LLC’s holdings in Sysco were worth $945,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Rialto Wealth Management LLC grew its stake in shares of Sysco by 188.7% in the first quarter. Rialto Wealth Management LLC now owns 332 shares of the company’s stock worth $25,000 after acquiring an additional 217 shares during the period. Parvin Asset Management LLC bought a new position in shares of Sysco in the fourth quarter worth approximately $29,000. Sherman Asset Management Inc. bought a new position in shares of Sysco in the fourth quarter worth approximately $31,000. Flagship Wealth Advisors LLC bought a new position in shares of Sysco in the fourth quarter worth approximately $31,000. Finally, Golden State Wealth Management LLC boosted its position in shares of Sysco by 48.4% in the first quarter. Golden State Wealth Management LLC now owns 429 shares of the company’s stock worth $32,000 after purchasing an additional 140 shares during the period. 83.41% of the stock is currently owned by institutional investors.

Sysco Trading Up 0.8%

Shares of SYY opened at $75.16 on Friday. Sysco Corporation has a twelve month low of $67.12 and a twelve month high of $82.23. The company has a market cap of $36.43 billion, a P/E ratio of 19.47, a P/E/G ratio of 2.41 and a beta of 0.81. 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’s fifty day simple moving average is $72.80 and its 200-day simple moving average is $73.39.

Sysco (NYSE:SYY) last announced its earnings results 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). Sysco had a net margin of 2.36% and a return on equity of 107.96%. The firm had revenue of $19.60 billion during the quarter, compared to analysts’ expectations of $20.11 billion. During the same period in the prior year, the company posted $0.96 EPS. The company’s revenue 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 year.

Sysco Increases Dividend

The business also recently declared 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. The ex-dividend date is Thursday, July 3rd. This is a boost from Sysco’s previous quarterly dividend of $0.51. This represents a $2.16 dividend on an annualized basis and a dividend yield of 2.87%. Sysco’s dividend payout ratio is presently 52.85%.

Insider Transactions at Sysco

In other Sysco 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SYY. Barclays lowered their target price 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. UBS Group lowered their target price on shares of Sysco from $86.00 to $83.00 and set a “buy” rating on the stock in a report on Wednesday, April 30th. Wells Fargo & Company lowered their target price 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. Citigroup assumed coverage on shares of Sysco in a research note on Thursday, May 22nd. They set a “neutral” rating and a $78.00 price target on the stock. Finally, Sanford C. Bernstein set a $87.00 price target on shares of Sysco and gave the company an “overweight” rating in a research note on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $83.00.

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.