2,786 Shares in Sysco Co. (NYSE:SYY) Purchased by Red Door Wealth Management LLC

Red Door Wealth Management LLC purchased a new stake in shares of Sysco Co. (NYSE:SYY) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,786 shares of the company’s stock, valued at approximately $226,000.

Several other institutional investors have also recently made changes to their positions in the stock. Chicago Partners Investment Group LLC grew its stake in shares of Sysco by 1.8% in the fourth quarter. Chicago Partners Investment Group LLC now owns 7,150 shares of the company’s stock valued at $536,000 after buying an additional 124 shares in the last quarter. Hunter Associates Investment Management LLC increased its stake in shares of Sysco by 1.5% during the 4th quarter. Hunter Associates Investment Management LLC now owns 8,275 shares of the company’s stock worth $606,000 after purchasing an additional 125 shares during the last quarter. Bell Investment Advisors Inc raised its holdings in shares of Sysco by 8.2% in the 4th quarter. Bell Investment Advisors Inc now owns 1,722 shares of the company’s stock valued at $126,000 after purchasing an additional 131 shares during the period. Beacon Investment Advisors LLC lifted its stake in Sysco by 0.5% in the 4th quarter. Beacon Investment Advisors LLC now owns 24,680 shares of the company’s stock valued at $1,805,000 after purchasing an additional 133 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. grew its holdings in Sysco by 6.4% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 2,246 shares of the company’s stock worth $165,000 after purchasing an additional 135 shares during the period. Institutional investors and hedge funds own 83.41% of the company’s stock.

Sysco Trading Down 1.5 %

Shares of SYY stock opened at $71.39 on Monday. The stock has a market cap of $35.55 billion, a P/E ratio of 17.41, a price-to-earnings-growth ratio of 2.05 and a beta of 1.18. Sysco Co. has a 1 year low of $62.24 and a 1 year high of $82.89. The company has a current ratio of 1.34, a quick ratio of 0.77 and a debt-to-equity ratio of 5.77. The stock has a 50 day simple moving average of $73.94 and a 200 day simple moving average of $76.41.

Sysco (NYSE:SYY) last released its earnings results on Tuesday, April 30th. The company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. Sysco had a return on equity of 99.88% and a net margin of 2.66%. The firm had revenue of $19.38 billion during the quarter, compared to the consensus estimate of $19.74 billion. During the same period in the prior year, the company posted $0.90 EPS. The company’s revenue was up 2.7% compared to the same quarter last year. On average, research analysts predict that Sysco Co. will post 4.3 earnings per share for the current fiscal year.

Sysco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 5th will be issued a $0.51 dividend. This is a positive change from Sysco’s previous quarterly dividend of $0.50. This represents a $2.04 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Friday, July 5th. Sysco’s dividend payout ratio (DPR) is currently 48.78%.

Analyst Ratings Changes

Several research firms have issued reports on SYY. Barclays dropped their price objective on Sysco from $88.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, May 23rd. Morgan Stanley reduced their price objective on shares of Sysco from $84.00 to $82.00 and set an “equal weight” rating for the company in a research report on Thursday, May 23rd. BMO Capital Markets dropped their price objective on shares of Sysco from $90.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, May 23rd. JPMorgan Chase & Co. reduced their target price on shares of Sysco from $87.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, May 23rd. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Sysco from $90.00 to $86.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $84.90.

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.