Prudent Man Advisors LLC Has $489,000 Position in Sysco Corporation (NYSE:SYY)

Prudent Man Advisors LLC boosted its position in shares of Sysco Corporation (NYSE:SYY) by 5.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,511 shares of the company’s stock after purchasing an additional 361 shares during the quarter. Prudent Man Advisors LLC’s holdings in Sysco were worth $489,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Sysco by 0.7% during the fourth 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 period. Invesco Ltd. grew its holdings in 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 purchasing an additional 851,441 shares during the period. Boston Partners grew its holdings in Sysco by 143.7% during the fourth quarter. Boston Partners now owns 12,184,114 shares of the company’s stock valued at $930,296,000 after purchasing an additional 7,184,754 shares during the period. Geode Capital Management LLC grew its holdings in Sysco by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 11,868,965 shares of the company’s stock valued at $905,120,000 after purchasing an additional 233,885 shares during the period. Finally, Capital Research Global Investors grew its holdings in Sysco by 27.3% during the fourth quarter. Capital Research Global Investors now owns 8,991,476 shares of the company’s stock valued at $687,488,000 after purchasing an additional 1,928,002 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SYY. JPMorgan Chase & Co. boosted 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. Barclays cut their price target on shares of Sysco from $87.00 to $77.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th. Wall Street Zen lowered shares of Sysco from a “buy” rating to a “hold” rating in a research note on Sunday. BMO Capital Markets cut their price target on shares of Sysco from $82.00 to $77.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. 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. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $82.77.

Insiders Place Their Bets

In related news, Director Sheila Talton sold 356 shares of the business’s stock in a transaction on 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 directly owned 12,738 shares in the company, valued at approximately $902,359.92. The trade was a 2.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.54% of the company’s stock.

Sysco Stock Performance

Shares of SYY stock opened at $76.80 on Friday. The company’s fifty day simple moving average is $73.90 and its 200-day simple moving average is $73.27. 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 firm has a market cap of $37.23 billion, a PE ratio of 19.90, a P/E/G ratio of 2.32 and a beta of 0.81. Sysco Corporation has a 12 month low of $67.12 and a 12 month high of $82.23.

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

Sysco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 2.81%. This is an increase from Sysco’s previous quarterly dividend of $0.51. The ex-dividend date is Thursday, July 3rd. Sysco’s payout ratio is presently 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.