Clifford Swan Investment Counsel LLC Acquires 35,012 Shares of Sysco Corporation (NYSE:SYY)

Clifford Swan Investment Counsel LLC boosted its stake in shares of Sysco Corporation (NYSE:SYY) by 16.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 250,439 shares of the company’s stock after purchasing an additional 35,012 shares during the quarter. Clifford Swan Investment Counsel LLC owned 0.05% of Sysco worth $18,793,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of SYY. Rialto Wealth Management LLC lifted its holdings in Sysco by 188.7% during the 1st quarter. Rialto Wealth Management LLC now owns 332 shares of the company’s stock worth $25,000 after buying an additional 217 shares in the last quarter. Parvin Asset Management LLC bought a new position in Sysco during the fourth quarter worth about $29,000. Golden State Wealth Management LLC grew its holdings in shares of Sysco by 48.4% during the 1st quarter. Golden State Wealth Management LLC now owns 429 shares of the company’s stock valued at $32,000 after purchasing an additional 140 shares during the last quarter. Capital A Wealth Management LLC bought a new stake in Sysco in the fourth quarter valued at $34,000. Finally, Ameriflex Group Inc. purchased a new position in Sysco during the fourth quarter worth about $35,000. 83.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on SYY. Morgan Stanley boosted their price target on shares of Sysco from $72.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Monday, July 14th. Wall Street Zen downgraded shares of Sysco from a “buy” rating to a “hold” rating in a report on Sunday, July 13th. Bank of America boosted their price objective on shares of Sysco from $81.00 to $93.00 and gave the company a “buy” rating in a research report on Friday. UBS Group cut their price target 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. Finally, Guggenheim reissued a “buy” rating and set a $82.00 price objective on shares of Sysco in a research report on Tuesday, July 8th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.23.

Insider Buying and Selling at Sysco

In related 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 transaction of $25,219.04. Following the completion of the sale, the director directly owned 12,738 shares of the company’s stock, valued at $902,359.92. This trade represents a 2.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Sysco Trading Up 0.2%

Shares of Sysco stock traded up $0.14 during trading hours on Monday, reaching $78.55. The stock had a trading volume of 74,389 shares, compared to its average volume of 3,238,747. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 6.37. Sysco Corporation has a 1 year low of $67.12 and a 1 year high of $82.23. The firm has a market capitalization of $38.08 billion, a price-to-earnings ratio of 20.35, a P/E/G ratio of 2.36 and a beta of 0.81. The firm has a 50 day simple moving average of $74.58 and a two-hundred day simple moving average of $73.28.

Sysco (NYSE:SYY) last issued its earnings results 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 return on equity of 107.96% and a net margin of 2.36%. The company had revenue of $19.60 billion during the quarter, compared to analyst estimates of $20.11 billion. During the same quarter in the previous year, the firm earned $0.96 earnings per share. The business’s revenue was up 1.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Sysco Corporation will post 4.58 earnings per share for the current 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 paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 2.75%. This is a positive change from Sysco’s previous quarterly dividend of $0.51. The ex-dividend date is Thursday, July 3rd. Sysco’s payout ratio is currently 55.96%.

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.