HM Payson & Co. Cuts Position in Sysco Corporation (NYSE:SYY)

HM Payson & Co. decreased its stake in Sysco Corporation (NYSE:SYY) by 5.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,180 shares of the company’s stock after selling 980 shares during the quarter. HM Payson & Co.’s holdings in Sysco were worth $1,364,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of SYY. VELA Investment Management LLC boosted its position in shares of Sysco by 39.5% during the first quarter. VELA Investment Management LLC now owns 84,641 shares of the company’s stock valued at $6,351,000 after buying an additional 23,971 shares during the period. IFM Investors Pty Ltd lifted its stake in shares of Sysco by 11.6% during the 1st quarter. IFM Investors Pty Ltd now owns 98,361 shares of the company’s stock worth $7,678,000 after acquiring an additional 10,234 shares during the last quarter. OneDigital Investment Advisors LLC boosted its holdings in Sysco by 0.9% during the 1st quarter. OneDigital Investment Advisors LLC now owns 29,901 shares of the company’s stock valued at $2,244,000 after acquiring an additional 278 shares during the period. Calamos Advisors LLC grew its position in Sysco by 1.1% in the 1st quarter. Calamos Advisors LLC now owns 161,669 shares of the company’s stock valued at $12,132,000 after acquiring an additional 1,801 shares during the last quarter. Finally, Checchi Capital Advisers LLC increased its stake in Sysco by 3.0% in the first quarter. Checchi Capital Advisers LLC now owns 6,361 shares of the company’s stock worth $477,000 after purchasing an additional 186 shares during the period. Institutional investors own 83.41% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on SYY shares. Wall Street Zen raised shares of Sysco from a “hold” rating to a “buy” rating in a research note on Saturday. Sanford C. Bernstein set a $87.00 price objective on shares of Sysco and gave the company an “overweight” rating in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. upped their target price on shares of Sysco from $82.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 20th. Barclays decreased their price target on shares of Sysco from $87.00 to $77.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Finally, BMO Capital Markets decreased their price target on shares of Sysco from $82.00 to $77.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $83.00.

Sysco Stock Performance

Shares of NYSE:SYY opened at $76.88 on Friday. The company has a market capitalization of $37.27 billion, a price-to-earnings ratio of 19.92, a price-to-earnings-growth ratio of 2.33 and a beta of 0.81. Sysco Corporation has a 52 week low of $67.12 and a 52 week 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 firm has a 50 day moving average of $73.27 and a 200 day moving average of $73.28.

Sysco (NYSE:SYY) last issued 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 quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the firm earned $0.96 EPS. On average, sell-side analysts predict that Sysco Corporation will post 4.58 earnings per share for the current fiscal year.

Sysco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Thursday, July 3rd will be paid a $0.54 dividend. This is an increase from Sysco’s previous quarterly dividend of $0.51. The ex-dividend date is Thursday, July 3rd. This represents a $2.16 dividend on an annualized basis and a yield of 2.81%. Sysco’s payout ratio is 55.96%.

Insider Buying and Selling

In other news, Director Sheila Talton sold 356 shares of the company’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 transaction, the director directly owned 12,738 shares of the company’s stock, valued at approximately $902,359.92. This represents a 2.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.54% of the stock is owned by company insiders.

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.